Modelling Business and Management Systems Using Fuzzy Cognitive Maps: A Critical Overview

A critical overview of modelling Business and Management (B&M) Systems using Fuzzy Cognitive Maps is presented. A limited but illustrative number of specific applications of Fuzzy Cognitive Maps in diverse B&M systems, such as e business, performance assessment, decision making, human resources management, planning and investment decision making processes is provided and briefly analyzed. The limited survey is given in a table with statics of using FCMs in B&M systems during the last 15 years. The limited survey shows that the applications of Fuzzy Cognitive Maps to today’s Business and Management studies has been steadily increased especially during the last 5-6 years. Interesting conclusions and future research directions are highlighted.