Using Gray Relation Analysis and Entropy Methods in Ranking Corporate's Social Responsibility: Evidence from Iranian Pharmaceutical Companies

Analyzing corporate social responsibility (CSR) is a multi-criteria problem. This paper firstly introduces gray relation and entropy weighting methods in order to find a solution to analyze and rank corporations from this point of view. The proposed technique that conducted through combining these two methods, will become more reliable decision making criterion. Furthermore, since in literature there are different dimensions suggested for CSR, entropy method is used to determine the relative importance of each dimension. Awareness-raising questionnaire prepared by the social responsibility unit of European Commission was used to measure corporate responsibility. By applying these methods, 10 active pharmaceutical material and products manufacturing corporations were investigated and in terms of paying attention to social responsibilities, Pars Daro corporation placed first. This technique not only helps corporations to diagnose their weaknesses and strengths, but also helps them to know their position against competitors and make better decisions to promote corporate rank in social responsibility.