An integrated CRITIC‐EDAS approach for assessing enterprise crisis management effectiveness based on Weibo

Abstract

AbstractIn the digital age, social media (such as Weibo, Twitter), as a rich source of data, has become a vital platform for businesses to communicate and engage with their audiences. In this paper, we investigate crisis management effectiveness for enterprises using social media. To achieve this goal, a CRITIC‐EDAS (the abbreviation for criteria importance through inter‐criteria correlation‐evaluation based on distance from average solution) evaluation approach is proposed. First, from the perspective of Weibo, an evaluation index system for the effectiveness of enterprise crisis management is constructed based on the analysis of the factors affecting the effectiveness of enterprise crisis management. Then, the CRITIC method is used to determine the weights of the evaluation index, and the EDAS method is utilized to calculate the enterprise crisis management effectiveness value based on the weights of the evaluation index. Finally, a case study about four enterprises' crisis events is applied to verify the feasibility of the CRITIC‐EDAS approach. Furthermore, some existing problems of enterprise crisis management are summarized and some strategies of enterprise crisis management for these problems are provided.