SHORT COMMUNICATION
Strategic Planning of Regional Sustainable Development Using Factor Analysis Method
Marija Milenković 1  
,   Ashok Vaseashta 2  
,   Dejan Vasović 3  
 
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1
University of Niš, Univerzitetski trg 2, Niš, Serbia
2
International Clean Water Institute, Manassas, VA and NJCU – State University of New Jersey, NJ USA
3
University of Niš, Faculty of Occupational Safety in Niš, Čarnojevića 10a, Niš, Serbia
CORRESPONDING AUTHOR
Dejan Vasović   

Faculty of Occupational Safety in Niš, University of Niš, Čarnojevića 10a, Niš, Serbia
Submission date: 2020-02-24
Acceptance date: 2020-06-28
Online publication date: 2020-09-26
 
 
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ABSTRACT
Sustainable development of a regional and local community involves setting a strategic balance among economic, social, and environmental criteria (factors) of development. Due to their large number, physical quantity variance, and incompleteness, these factors have a limited, sometimes even conflicting and ineffectual application in producing a unified effect on development. This issue becomes resolvable through a modification of factor analysis by means of combining it with multi-criteria decision analysis (MCDA). The solutions thus obtained in the form of a ranking, with the top-ranked solution being the most favorable, constitute immense support for decision makers to use the proposed most favorable solution to formulate and implement their plan of development.
eISSN:2083-5906
ISSN:1230-1485