Abstract:

Although the literature currently presents a number of methodologies and procedures in decision making theory, there are still decision-makers who question the usefulness of using these multi-criteria decision-making methods, and rather rely on their own intuition. In this paper we performed a comprehensive analysis of the results we obtained. We compared and analysed the overall order of enterprises based on the calculated financial analysis indicators using TOPSIS and PROMETHEE methods. Each method uses a different approach, which means that the results can often differ from one another. In a PROMETHEE method we do not count with specific value of criteria (indicator), but, we assign functions to two pair of criteria that return the value from the interval <0.1>, therefore it can not happen that we get in such a way as distorted result as according to TOPSIS method. Despite these disadvantages, methods of multi-critetial decision-making are effective ways of eliminating and minimizing the degree of subjectivity. That is precisely why the management of enterprise should apply them in the decision situations.