Assessing Potential of Organizations with Fuzzy Entropy

Assessing the performance of organizations in the near future has been a challenging problem because of the factors of subjective assessment of the uncertainty. To cater to such applications, a novel form of fuzzy entropy is proposed to unify the concepts of fuzzy entropy and the conventional Shannon’s entropy. The proposed entropy provides a direct and convenient framework to quantify the uncertainty associated with a firm in the near future. It is also shown that the proposed form is amenable in extending the fuzzy entropy functions to the probabilistic-fuzzy domain. Thus, the proposed form of fuzzy entropy finds a special significance in the human decision-making problems. A case study illustrates the applicability of the proposed functions in assessment of future performance of a firm.