Journal articles on the topic 'Strategic decisions tool'
To see the other types of publications on this topic, follow the link: Strategic decisions tool.
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Strategic decisions tool.'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Velikikh, K. "STRATEGIC PLANNING AS A MANAGEMENT TOOL." Series: Economic science 7, no. 167 (November 30, 2021): 34–39. http://dx.doi.org/10.33042/2522-1809-2021-7-167-34-39.
Full textAbstract:
The article analyzes the importance of strategic organizational planning in the management of companies in a competitive market. Strategic planning, considered an important management tool, has come to be used by companies as one of the main assistants in making decisions and achieving their goals. The historical context of strategy and planning, concepts related to the subject, and research conducted by the author are important factors in developing an objective and easy-to-use strategic plan. Strategic planning aims to meet the needs of organizations in an uncertain future, enabling them to effectively address the environmental challenges of this globalized economy in which we live today. Corporate strategic planning provides a clear understanding of the company's purpose in terms of market segment, vertical production, and geographic region. When properly communicated to employees, it inspires trust and safety. A planning goal can be defined as the development of administrative processes, methods and approaches that provide a viable situation for assessing the future implications of current decisions in terms of business goals that will facilitate faster and more consistent decision making in the future. Based on this, we can state that systematic planning tends to reduce the uncertainty associated with the decision-making process, and, consequently, to increase the likelihood of achieving the goals, objectives and goals set for the company. The tool that needs to be used to implement strategic planning is an action plan, which we can define as breaking down each strategy, objectives, and strategic goals of an organization into more detailed plans. The action plan allows the company to apply the proposed planning more effectively, as it breaks down goals into tactical and operational plans, allowing everyone in the company to know their role in achieving the set goals. Based on the above, it can be argued that strategic planning is a fundamental tool for achieving the goals of an organization, especially in light of profound changes in the nature of the business and reforming business strategies, with the strategy itself being the most appropriate action. or the path that must be followed in order to achieve the goals of the organization.
2
Smith, DMS, and BD Foran. "Strategic decisions in pastoral management." Rangeland Journal 10, no. 2 (1988): 82. http://dx.doi.org/10.1071/rj9880082.
Full textAbstract:
Pastoral managers face a bewildering array of management options while striving to remain viable. Many researchers and extension officers are forced to specialise, and "do good science" at the expense of working within a broader picture of practical station management. As a result their information and advice is often directed towards only part of a property's total management system. The development of new advisory tools, many of them using micro-computers, offer government officers and pastoral managers alike greater opportunities for effective interaction. We present the philosophy and structure of one tool, which has evolved with these developments, RANGEPACK HerdEcon, a dynamic herd or flock model linked to property cash flows. It can operate at a simple level initially, but it is able to mimic complex situations just as easily. Designed to accommodate sheep, cattle or mixed enterprises, it will enable a pastoral manager or an extension officer to develop management strategies for a particular property, which deal effectively with climatic variation, resultant animal production and subsequent cash flows. RANGEPACK HerdEcon will run on IBM compatible personal computers with at least 512k of RAM.
3
Zamlynskyi, V. A., S. M. Minakova, A. I. Livinskyi, A. M. A. S. Al Ali, and B. M. Camara. "Information and communication technologies as a tool and incentive for strategic decision making." Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, no. 2 (April 30, 2022): 129–34. http://dx.doi.org/10.33271/nvngu/2022-2/129.
Full textAbstract:
Purpose. To analyze the peculiarities of the use of ICT and their structural components. To formulate requirements for strategic decision-making systems. To identify the impact of ICT on creation of new opportunities and threats. To form a basic structural scheme of using ICT in strategic decision-making. Methodology. Methods of critical and comparative analysis were used to determine the topic and purpose of the study. Method of system analysis was used for the formation of the basic structural scheme of ICT when making strategic decisions. The method of induction and deduction was used to study the features of ICT and their structural components. Idealization and formalization method to analyze the problems and threats associated with the use of ICT. Method of analysis and synthesis to identify and study in detail the indirect effects of related industries on the formation of strategic decision-making. Findings. Requirements for decision support and decision-making systems, their software components as well as for the quality of data that determines the relevance of decisions were formulated. The need is pointed out to create powerful information centers that can serve a significant number of enterprises, combining their use with a distributed network of enterprise information centers. The analysis of the dynamics of gas consumption confirmed the situational nature of strategic decision-making by certain consumer groups and the weak level of ICT use. Originality. The basic structural scheme of ICT uses in making strategic decisions by enterprise management is formed. The reasons for the lack of generalized principles of strategic digital transformation of enterprises are identified. It is established that the state and tendencies of changes of branches which influence the activity of the analyzed enterprise are though indirect but significant and should be subject to the strategic analysis. Practical value. The proposed basic structural scheme of ICT use can be used as a model in the implementation of ICT at the enterprise. The results of theoretical research and practical testing of the proposed approach can be widely used for the analysis of the dynamics of natural gas consumption.
4
Golrizgashti, Seyedehfatemeh, Qingyun Zhu, and Joseph Sarkis. "Formalizing the strategic product deletion decision: incorporating multiple stakeholder views." Industrial Management & Data Systems 122, no. 4 (March 15, 2022): 887–919. http://dx.doi.org/10.1108/imds-07-2021-0435.
Full textAbstract:
PurposeMarket uncertainties require organizations to consistently revisit their product portfolio. Theoretically the link between corporate strategy, supply chain and operations for Product Deletion (PD) decisions is lacking. The purpose of this study is to develop a decision support tool that enables managers to evaluate PD decisions across business, supply chain strategies and customer considerations; rationalizing product portfolio variety while realizing long-term organizational competitiveness.Design/methodology/approachThis study applies Quality Function Deployment (QFD) to formalize PD decision-making across multiple functional strategy perspectives. Manufacturing, supply chain, finance and marketing functions are included along with incorporating multiple stakeholder voices from multiple organizational levels—including top-management team members, cross-functional managers and customers. A case study application is conducted using an Original Equipment Manufacturer (OEM) perspective.FindingsThe interrelationships between business, supply chain strategies and customer requirements are identified, along with tensions and tradeoffs using a series of “houses” or relationship matrices. The methodology provides managers with a decision support tool that can be flexible and applicable to aid sound PD decision-making incorporating multiple stakeholders.Originality/valueProduct decisions at the decline stage—for example product retirement or deletion—are neglected both in research and in practice. Having a formalized systematic process can make PD outcomes more objective. The proposed QFD approach is one of the early PD decision support tools—products can be deleted for strategic, operational and customer-related reasons, and the hierarchical interrelationships among various reasons need to be carefully managed to ensure sound product portfolio rationalization.
5
Pylypiv, Nadiya, and Iryna Pіatnychuk. "Essential Strategic Management Accounting Tools Used for Making Investment Decisions at Enterprises in EU." Journal of Vasyl Stefanyk Precarpathian National University 5, no. 3-4 (December 20, 2018): 50–56. http://dx.doi.org/10.15330/jpnu.5.3-4.50-56.
Full textAbstract:
Slow current modernization reforms in the economic sector have significantly weakened the competitiveness of enterprises in EU; therefore, there is a great need for new tools in the managerial decision-making process. Information provision of the decision-making process on expediency of investment activity in the form of capital investments is formed within thelimits of strategic management accounting. In the research except for various analytical methods (analysis, synthesis, comparison, grouping, etc.) a “decisions tree” method is used for choosinga reasonable solution. In the study, strategic management accounting has been defined as a separate kind of management accounting, which involves generation of high-quality information. Certain tools may be applied within it for the decisions made by managers, based on established business partnership with successful implementation of business strategy. Five most widespread groups of tools of strategic management accounting are cost accounting; planning, monitoringand evaluation of effectiveness; strategic decisions; competitor accounting; customer accounting.It is recommended to complete the list of instruments integrated within the five groupsby a separate group – a specific category of supplier accounting that would contribute to the generation of more complete and qualitative information provision for the process of making managerial decisions on the appropriateness of capital investments in the investment activityof the enterprise in EU. The research made it possible to reach the following conclusions. Important components should be taken into account in order to fulfil strategic management accountingof the company in a proper way. Those are data sources choice, collecting and processing of information, choice of instruments of strategic management accounting, formation of internal regulation of strategic management accounting, development and supply of accountingand analytical information; process of solutions development, and the choice, which canprovide generation of necessary information for competitive managerial decisions made by managers. Application of advanced tools for strategic management accounting, which give information to meet issues related to the characteristics of consumers, competitors, suppliers, project costs, assessment of investment feasibility in the project, is caused by the necessity of competitive decision-making with the help of the above-offered decisions tree tool usage
6
Burrell, Darrell Norman. "Assessing the Value of Executive Leadership Coaches for Cybersecurity Project Managers." International Journal of Human Capital and Information Technology Professionals 10, no. 2 (April 2019): 20–32. http://dx.doi.org/10.4018/ijhcitp.2019040102.
Full textAbstract:
With the complex nature of impacts of cybersecurity breaches, it is critical that organizational have cybersecurity project managers that can make sound managerial and leadership decisions. Often cybersecurity project managers act quickly with managerial decisions at work. When time is of the essence, strategic thinking, strategic communication, and strategic decision making are critical to organizational effectiveness and productivity. Decision making and strategic communications are just a few skills that executive leadership coaches can teach. This article explores the values and potential benefits of executive coaching as a leadership development tool for information technology and cybersecurity project managers.
7
Onunka, Chiemela, and Remigius C. Nnadozie. "Business intelligence as an essential cooperate management tool for the logistics industry." Corporate Ownership and Control 12, no. 2 (2015): 468–74. http://dx.doi.org/10.22495/cocv12i2c4p6.
Full textAbstract:
Present and historic cooperate data provide the platform for deep interrogation of business processes with the aim of producing effective and timeous reports for management decisions. This study explores the abstract link between the successes and failures of strategic decision-making process and business intelligence as integral factors making significant impact on planned corporate destinations particularly in the logistics industry. The study advocates efficient business intelligence and strategic reporting systems for enhanced cooperate decision support.
8
González, Ainhoa, and Peter Connell. "Developing a renewable energy planning decision-support tool: Stakeholder input guiding strategic decisions." Applied Energy 312 (April 2022): 118782. http://dx.doi.org/10.1016/j.apenergy.2022.118782.
Full text
9
Vostriakova, Valentyna, and Halyna Makhova. "Intellectual property audit as tool of company’s strategic decisions making." Economy and Entrepreneurship, no. 45 (December 24, 2020): 122–35. http://dx.doi.org/10.33111/ee.2020.45.vostriakovav_makhovah.
Full text
10
Farid, S. S., J. L. Novais, S. Karri, J. Washbrook, and N. J. Titchener-Hooker. "A Tool for Modeling Strategic Decisions in Cell Culture Manufacturing." Biotechnology Progress 16, no. 5 (October 6, 2000): 829–36. http://dx.doi.org/10.1021/bp0001056.
Full text
11
Gilad, Benjamin, George Gordon, and Ephraim Sudit. "Competitive intelligence and strategic group decisions: A new diagnostic tool." Group Decision and Negotiation 1, no. 1 (April 1992): 5–25. http://dx.doi.org/10.1007/bf00562687.
Full text
12
Cuthbert, Carol E., and Noel J. Pearse. "Strategic Data Pattern Visualisation." Journal of Systemics, Cybernetics and Informatics 20, no. 1 (January 2022): 122–41. http://dx.doi.org/10.54808/jsci.20.01.122.
Full textAbstract:
Data visualisation reveals patterns and provides insights that lead to actions from management, thereby playing a mediating role in the relationship between the internal resources of a firm and its financial performance. In this chapter, contingent resource-based theory is applied to the analysis of big data, treating its visualisation as a mode of interdisciplinary communication. In service industries in general and the legal industry in particular, big data analytics (BDA) is emerging as a decision-making tool for management to achieve competitive advantage. Traditionally, data scientists have delved into data armed with a hypothesis, but increasingly they explore data to discern patterns that lead to hypotheses that are then tested. These big data analytics tools in the hands of data scientists have the potential to unlock firm value and increase revenue and profits, through pattern identification, analysis, and strategic action. This exploratory mode of working can increase complexity and thereby diminish efficient management decision-making and action. However, data pattern visualisation reduces complexity, as it enables interdisciplinary communication between data scientists and managers through the translation of statistical patterns into visualisations that enable actionable management decisions. When data scientists visualise data patterns for managers, this translates uncertainty into reliable conclusions, resulting in effective management decision-making and action. Informed by contingent resource theory and viewing these primary and secondary resources as independent variables and performance outcomes such as revenue and profitability as dependent variables, a conceptual framework is developed. The contingent resource-based theory highlights capabilities emerging from the interrelationship between primary and secondary resources as being central to competitiveness and profitability. Data decision-making systems are viewed as a primary resource, while complementary resources are (1) their completeness of vision (i.e., strategy and innovation) and (2) their ability to execute (i.e., operational capabilities). Data visualisation is therefore crucial as a resource facilitating actionable decisions by management, which in turn enhances firm performance. The balance between expert agents' self-reliance and central control, the entity's values, task attributes, and risk appetite all moderate the type of data visualisation produced by data scientists.
13
Medina-Serrano, Rubén, Reyes González-Ramírez, Jose Gasco-Gasco, and Juan Llopis-Taverner. "Strategic sourcing: Developing a progressive framework for make-or-buy decisions." Journal of Industrial Engineering and Management 13, no. 1 (February 20, 2020): 133. http://dx.doi.org/10.3926/jiem.2858.
Full textAbstract:
Purpose: Make-or-buy decisions represent a critical dilemma faced by many firms. The appropriate decision between designing and manufacturing parts or services in-house, buying them from external providers or combining both is a fundamental firm process. This paper seeks to address this question by updating the traditional make-or-buy literature with new academic insights, developing a make-or-buy framework with a tool for its operationalisation to help managers evaluate sourcing decisions.Design/methodology/approach: First, a literature review of the principal theories and approaches about make-or-buy decisions is discussed. Second, the development of the make-or-buy framework is described and explained based on the results of qualitative interviews with practitioners and a set of interviews of an in-firm case study. Third, the results and the implementation of the framework are outlined.Findings: Our study not only validates the proposed framework through a set of in-firm make-or-buy decisions, but also provides a structure for its implementation and design a decision matrix with a pairwise comparison tool for helping practitioners to put the framework into practice.Research limitations/implications: This paper aims to contribute to the study of the make-or-buy literature in supply chain management through the graphical representation of why and how make-or-buy decisions are made. Interestingly, the paper presents relevant dimensions and factors to be studied and evaluates possible outcomes when approaching make-or-buy decisions.Originality/value: Our results suggest that practitioners should combine this framework with a pairwise comparison matrix and a multi-criteria decision analysis based on the TOPSIS methodology to assess strategic sourcing decisions.
14
Kiss, Hubert Janos, Ismael Rodriguez-Lara, and Alfonso Rosa-Garcia. "Does response time predict withdrawal decisions? Lessons from a bank-run experiment." Review of Behavioral Finance 12, no. 3 (November 12, 2019): 200–222. http://dx.doi.org/10.1108/rbf-07-2018-0070.
Full textAbstract:
Purpose The purpose of this paper is to analyze how response time in a laboratory experiment on bank runs affects withdrawal decisions. Design/methodology/approach In the authors’ setup, the bank has no fundamental problems, depositors decide sequentially whether to keep the money in the bank or to withdraw, and they may observe previous decisions depending on the information structure. The authors consider two levels of difficulty of decision-making conditional on the presence of strategic dominance and strategic uncertainty. The authors hypothesize that the more difficult the decision, the longer is the response time, and the predictive power of response time depends on difficulty. Findings The authors find that response time is longer in information sets with strategic uncertainty compared to those without (as expected), but the authors do not find such relationship when considering strategic dominance (contrary to the hypothesis). Response time correlates negatively with optimal decisions in information sets with a dominant strategy (contrary to the expectation) and also when decisions are obvious in the absence of strategic uncertainty (in line with the hypothesis). When there is strategic uncertainty, the authors find suggestive evidence that response time predicts optimal decisions. Research limitations/implications Being a laboratory experiment, it is questionable if depositors in real life behave similarly (external validity). Practical implications Since episodes of bank runs are characterized by strategic uncertainty, the result that under strategic uncertainty, longer response time leads to better decisions suggests that suspension of convertibility is a useful tool to curb banking panics. Originality/value To the best of authors’ knowledge, this is the first study concerning the relationship between response time and the optimality of decisions in a bank-run game.
15
Komskienė, Diana, and Kristina Bobinaitė. "SPORT SPONSORSHIP AS A STRATEGIC TOOL." Laisvalaikio tyrimai 2, no. 4 (2014): 1–10. http://dx.doi.org/10.33607/elt.v2i4.209.
Full textAbstract:
Research background. Sponsorship and sports marketing have been in existence for years and now have been greatly expanded and developed. Organizers of major events can hardly expect to receive some funds without expecting to give something back in return. Historically, sponsorship originated as an inexpensive addition to the marketing mix and was perceived as a philanthropic endeavour. In other words, corporations classified sponsorship as a donation and it was not considered a ‘marketing expense’, but nowadays it has changed significantly (Abiodun, 2011; Seguin et al., 2005). The attitude changed with regard to sponsorship when corporations began searching for a return on investment from donations made to various organisations (Meenaghan, 1991; Ramanantsoa, Thiery-Balé, 1989; Wilkinson, 1993). This came after a substantial increase in resources allocated to sponsorship, meaning that sponsorship became increasingly recognised as a valid promotional tool, a business expense that needed justification in the form of Return On Investment (Seguin et al., 2005). In addition, we have to keep track of constantly changing information. Nowadays, sponsors are increasingly more strategic in their approach to seeking value from sponsorship opportunities. Therefore, it is meaningful to understand that sponsorship is beneficial for both sides. Sponsorship proposals, for sport organizations, can help to achieve investment opportunities for business enterprises. For sponsors themselves, sponsorship can achieve even the most important company goals, such as access to a new marketplace, increased sales, (which directly will bring the capability of an organization to grow), increased popularity, strengthened image. Nowadays, sponsors are increasingly more strategic in their approach of seeking value from sponsorship opportunities. Furthermore, it is very important to understand how sponsors decisions will affect all of the organization in a strategic prospect. This could take us to a better comprehension of the key areas to be considered in the development of sponsorship proposals. Many of sports sponsorship proposals are counterproductive, because not taking into account the existing relationship between sponsorship and companies strategies. Results and findings. Organization situation is the firm’s goals, capabilities and resources. In organizations one of the most important strategic goals is to increase popularity, strengthen the image, achievement on the new market segment resources (Mitchel et al., 2013; Lane, 2009). The company can be sponsoring sport events which can bring new markets to it, positioning against competitors and other objectives. Product – market situation is the product category comparison new to the marketplace, growing, maturing or declining (Lane, 2009). Sponsoring can help achieve new marketplace, increase in sales which directly will bring capability of the organization to grow. A company involved in sports sponsorships can send instant messages to millions of potential buyers, generate community goodwill part, but most importantly it can increase market share and profit (Bocse et al., 2012). Competitive situation is how many competitors there are. What are their characteristics and marketing methods (Lane, 2009)? In essence, sport sponsorship has become a powerful marketing strategy used by firms to communicate with vast external and internal audiences to differentiate themselves from competitors (Cornwell, 2008), with the ultimate goal to orienting consumer’s preferences toward sponsors’ products (Barros, Silvestre, 2006) (Biscaia et al., 2013). Companies that are able to successfully tap into a consumer’s psychological connectedness with a sports team and can become more meaningful to that consumer (Henseler et al., 2011), what makes benefits and extension for brands and relationship. Environmental situation is what industry-wide and company–specific environmental opportunities and threats are most important (Mitchel et al., 2011; Lane, 2009). Quinn defines strategic decisions as “those decisions that determine the overall direction of an enterprise and its ultimate viability in light of the unpredictable and the unknowable changes that may occur in its most important surrounding environments.” (Shank, 2009, p. 342). It is a two-way street for both the sports entity and the sponsoring organization whereby the latter, tends to associate itself or its brands with the positive images obtained by the unique personality of the sporting event (Abiodun, 2011). The advantage of image building, promoted in a long term strategy, lies in the impact it has on an audience – target accurately determined because of the fittest event (Bocse et al., 2012). In our research we define the scope of effect of sport sponsorship on sponsors and reveal the sports sponsorship opportunities and links in sponsors’ strategic planning. The research method is content analyses and systemizing based upon theoretical framework. Keywords: sponsorship, sport sponsorship proposal, strategy.
16
Kintler, Jakub, Katarína Remeňová, and Barteková Kmety. "Price sensitivity testing as a basic tool for strategic pricing decisions." Strategic Management, no. 00 (2022): 30. http://dx.doi.org/10.5937/straman2200028k.
Full textAbstract:
Background: Data-driven decisions in each functional area of management, through all of the strategic levels, in the present time of dynamic changes in geopolitical and market conditions are necessary to achieve corporate (economic and social) goals, in line with securing future business success and sustainability. Because of this business need, we will focus in our research paper on price management, which can be seen as a supportive tool for strategic decisions, where competent decisions should be based on data-driven pricing decisions. Purpose: The aim of the research study is to identify what price consumers are prepared to pay for a new food product in a relatively saturated foreign market. The research study was conducted in the milk chocolate bar market segment. Study design: We applied the van Westendorp price sensitivity test to identify the range of acceptable prices for a product that is willing to enter a new foreign market. For this purpose, we used a milk chocolate bar product currently unknown in the Slovak market. Findings: In addition to the van Westendorp price sensitivity measurement, we used a non-parametric Mann Whitney U test to confirm the hypothesis that chocolate tasting will increase the likelihood of customers to pay a higher price for the tested product. The hypothesis mentioned above was statistically confirmed. Limitations: It is necessary to monitor customer reactions to a given price level and be prepared to optimize it. We did not address this part of the analysis in identifying a price that would be acceptable to consumers in terms of value perception, due to the scope of the study.
17
Rolstadås, Asbjørn. "Risk Navigation in One-of-a-Kind Production." Advanced Materials Research 1039 (October 2014): 627–36. http://dx.doi.org/10.4028/www.scientific.net/amr.1039.627.
Full textAbstract:
One-of-kind production is synonymous with project and thus can use management approaches from project management. The relationship between operations management and project management is briefly discussed and a project execution model with project phases and decision gates is introduced. Decisions are essential in any project as they introduce uncertainty and at the same time is the main tool for controlling the project. Three types of decisions are discussed: select, authorization and plan decisions. Uncertainty leads to risks and opportunities. Three types of risks can be distinguished: operational, strategic and contextual risks. The intersection between these creates a risk triangle within which one can navigate. A framework for project risk navigation contains three components: a governance system, a decision process, and strategic planning.
18
N.Skryhun and S. Kolodiuk. "Benchmarking as an instrument of marketing decisions." Middle European Scientific Bulletin 2 (July 5, 2020): 19–21. http://dx.doi.org/10.47494/mesb.2020.2.15.
Full textAbstract:
Practical principles of benchmarking weight as marketing instrument of influence on strategic decisions of business development are studied in the article. Peculiarities of application and place of the tool are revealed and substantiated from ensuring competitiveness in the marketing portfolio. There is the procedure of benchmarking, and subsequent benchmarking of the received strategic data about the positive or negative experience of the competitor, which significantly affects its competitiveness is considered.
19
Zinkevičiūtė, Virgilija. "EVALUATION OF BUSINESS STRATEGIC DECISIONS UNDER CHANGING ENVIRONMENT CONDITIONS." Journal of Business Economics and Management 8, no. 4 (December 31, 2007): 267–74. http://dx.doi.org/10.3846/16111699.2007.9636179.
Full textAbstract:
A problem of strategic decisions evaluation under changing environment conditions is analyzed in this article. In the context of these conditions the use of scenarios’ method, integrating scenarios formation into strategic decisions evaluation process, is perspective. The combination of multicriteria evaluation and scenarios’ method allows versatile evaluation of strategic decisions in aspects of usefulness and viability regarding perspective environment situations. A universal scenarios formation technology oriented towards facilitation of scenarios creation using a graphic tool ‐ ‘ Scenarios Roads’ Analysis’ is offered. Methodological guidelines of strategic decisions evaluation applying multicriteria evaluation and scenarios’ method combination is provided as well as their acceptability tested on experiment results.
20
Kożuch, Barbara, and Adam Jabłoński. "The Strategic Hybrids of Water Supply Companies as an Effective Management Tool." Sustainability 10, no. 12 (November 27, 2018): 4450. http://dx.doi.org/10.3390/su10124450.
Full textAbstract:
The mechanisms of water supply company management have been dynamically evolving recently. This is particularly related to factors that regulate the functioning of companies in this sector. This applies both to embedding such entities in the legal structure, and the management rules at both the strategic and tactical-operational levels. It is increasingly important how decisions are made in the conditions of pressure, limitations, opportunities and threats that these companies, which create value for stakeholders, face. This way of making decisions is determined by the adopted model of business, strategy, business processes and strategic projects that create a kind of a strategic hybrid. The hybrid determines the effectiveness of water supply companies that operate in accordance with the rules of the regulated market.
21
Eroshin, Sergey E. "Parametric Monitoring of Defence Industry Organizations as a Strategic Management Tool." Economic Strategies 160, no. 1 (February 20, 2022): 92–97. http://dx.doi.org/10.33917/es-1.181.2022.92-97.
Full textAbstract:
The article proposes an approach to developing strategic management decisions at the parent companies’ level of defence industry groups regarding human resources development. Identification of interrelations between the decisions taken and their consequences is carried out based on analysis of changes in the rank statistics of the enterprises’ key indicators. Using the data on the age distribution of employees of JSC Concern VKO Almaz-Antey, the need to adjust the average age indicator is substantiated. Particular attention is paid to improving the calculation of the parameter of labor productivity within the research organizations of the defence industry.
22
Maia Chinchaladze, Maia Chinchaladze, Nino Darsavelidze Nino Darsavelidze, Lela Bochoidze Lela Bochoidze, and Ana Kurtanidze Ana Kurtanidze. "Forsyth Methodology - A Strategic Tool For The Development of Regional Industries." Economics 105, no. 1-2 (February 7, 2022): 68–74. http://dx.doi.org/10.36962/ecs105/1-2/2022-68.
Full textAbstract:
The article deals with the role of foresight research in the strategic development of industries and companies, improving their capabilities, and the appropriateness of developing a methodology. Forsyth projects are characterized by an integrated approach, a high degree of involvement of all project participants in decision making. The impact of external and internal factors on current processes often requires adjustment, in the case of foresight these processes are subject to rapid adjustment. (Even in the case of strategic planning and forecasting - it takes some time). All resources are distributed in the necessary directions, decisions are optimized, economic sustainability is ensured. It is noteworthy that within the framework of Forsyth, the work is underway at various levels - national, regional and sectoral. Forsyth research - at four levels - at national, regional, sectoral and corporate levels. Keywords: Forecasting, planning, foresight research, foresight projects.
23
Karimova, Gulnara Z., and Yevgeniya Kim. "Practical Recommendation for the Use of Big Data in Strategic Management: Case Study of a Kazakh Telecommunications Company." Journal of Management and Strategy 9, no. 3 (June 20, 2018): 88. http://dx.doi.org/10.5430/jms.v9n3p88.
Full textAbstract:
This study analyzes the dynamics in the development and use of new, innovative technologies based on big data as they allow companies to expand their range of services, using large amounts of data, which in turn enables them to obtain economic benefits. Big data is often used as a tool for undertaking managerial tactical decisions rather than strategic. Using the practices of a Kazakh telecommunications company as an example, this study demonstrates how the potential of big data is limited to the decision-making tool and suggests how big data technology can improve the efficiency of the strategic management.
24
Viveros, Pablo, Nicolás Cárdenas Pantoja, Fredy Kristjanpoller, and Rodrigo Mena. "Reportability Tool Design: Assessing Grouping Schemes for Strategic Decision Making in Maintenance Planning from a Stochastic Perspective." Applied Sciences 12, no. 11 (May 26, 2022): 5386. http://dx.doi.org/10.3390/app12115386.
Full textAbstract:
In this article, we report on the design and implementation of a reportability tool using Microsoft Power BI embedded with Python script to assess opportunistic grouping schemes under a preventive maintenance policy. The reportability tool is based on specially developed indicators based on current maintenance standards for better implementation and considers a formerly developed grouping strategy with poor embedded performance indicators as an implementation case for the tool. Performance indicators were carefully developed considering a stochastic perspective when possible; this enables decisions to be influenced by risk assessment under a costs view. Reporting is focused on six maintenance sub-functions, enabling the decision maker to easily assess performance of any maintenance process, thereby improving the quality of decisions. The developed tool is a step forward for grouping (or any scheduling scheme) strategies due to its flexibility to be implemented in almost any case, enabling comparison between different grouping algorithms.
25
Kivijärvi, Hannu, and Markku Tuominen. "A Decision Support System for Semistructured Strategic Decisions: A Multi—Tool Method for Evaluating Intangible Investments." Journal of Decision Systems 1, no. 4 (January 1992): 353–76. http://dx.doi.org/10.1080/12460125.1992.10511541.
Full text
26
Ierace, Stefano, and Sergio Cavalieri. "An Analytic Hierarchy Process Based Model for the Selection of Decision Categories in Maintenance Systems." Management and Production Engineering Review 4, no. 2 (June 1, 2013): 37–49. http://dx.doi.org/10.2478/mper-2013-0014.
Full textAbstract:
Abstract This paper presents a model, based on Analytic Hierarchy Process, to support a maintenance manager with a suitable tool for focusing on the most relevant choices which need to be prioritized. The paper provides an insight on how structural and infra-structural decision elements, traditionally conceived for assessing the manufacturing strategy of a company, could be adopted as criteria for configuring a maintenance system. A model based on Analytic Hierarchy Process has been developed and tested in two industrial case studies in order to demonstrate how it can guide a maintenance manager in keeping the strategic decisions coherently with the overall company’s manufacturing strategy. Main beneficiaries are mainly maintenance managers who have to tackle relevant strategic decisions in managing their maintenance systems. Given the increasing role of maintenance within the operations strategy of a company, the heterogeneity of actors involved, with the relevant risk of assuming conflicting decisions, it is of utmost importance to lever on adequate and shared decision support systems rather than relying on a mere empirical knowledge. The model proposed in this paper, based on the Analytic Hierarchy Process, fills this gap since it provides a structured support in the decision making process by comparing and prioritising the relevant strategic decisions pertaining to the configuration of a maintenance system.
27
Korchagina, L. M. "Cost accounting as a tool for managing profitability in healthcare organizations." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 11 (November 1, 2021): 42–49. http://dx.doi.org/10.33920/med-17-2111-05.
Full textAbstract:
Cost accounting is an effective management tool that allows a company to measure profitability by collecting key information by recording and tracking the data necessary for the most efficient and profitable operation of the company. Managing costs to maintain profitability is a top priority in all industries, which means relying on data to make smart and informed decisions. Cost data is the basis for strategic decisions. Having the right information available is key for every decision-maker. The article examines the issues of cost accounting, as well as problems related to profitability management in healthcare organizations. The author considers the most common problems that make it difficult to effectively account for costs and analyze the directions of patient care in medical organizations.
28
Mosallaeipour, Sam, Seyed Mahdi Shavarani, Charlotte Steens, and Adrienn Eros. "A robust expert decision support system for making real estate location decisions, a case of investor-developer-user organization in industry 4.0 era." Journal of Corporate Real Estate 22, no. 1 (November 17, 2019): 21–47. http://dx.doi.org/10.1108/jcre-03-2019-0019.
Full textAbstract:
Purpose This paper aims to introduce a practical expert decision support system (EDSS) for performing location analysis and making real estate location decisions in the organization’s facility and real estate management (FREM) department in presence of several decision criteria, under risk and uncertainty. This tool is particularly useful for making strategic decisions in facility planning, portfolio management, investment appraisal, development project evaluations and deciding on usage possibilities in an unbiased, objective manner. Design/methodology/approach The proposed EDSS uses fuzzy logic and uncertainty theory as two of the most useful tools to deal with uncertainties involved in the problem environment. The system performs an unbiased mathematical analysis on the input data provided by the decision-maker, using a combination of Analytical Hierarchy Process (AHP) and Global Criterion Method; determines a suitable compromise level between the objectives; and delivers a set of locations that complies best with the outlined desires of the management as the final solution. The application of the system is tested on a real case and has delivered satisfactory results. Findings The proposed EDSS took the defined objectives, the list of alternative locations, and their attributes as the required input for problem-solving, and used a combination of AHP, Possibilistic approach, and global criterion method to solve the problem. The delivered outcome was a set of proper locations with the right attributes to meet all objectives of the organization at a satisfactory level, confirmed by the problem owners. Originality/value The application of such a system with such a degree of preciseness and complexity has been very limited in the literature. The system designed in this study is an Industry 4.0 decision making tool. For designing this system several body of knowledge are used. The present study is particularly useful for making strategic decisions in the domains of portfolio management, investment appraisal, project development evaluations and deciding on property usage possibilities. The proposed EDSS takes the information provided by the experts in the field (through qualitative and quantitative data collecting) as the inputs and operates as an objective decision-making tool using several bodies of knowledge considering the trends and developments in the world of FREM. The strong scientific method used in the core of the proposed EDSS guarantees a highly accurate result.
29
Siano, Alfonso, Maria Palazzo, Pantea Foroudi, and Agostino Vollero. "Rethinking Bernstein communication wheel." Bottom Line 30, no. 3 (November 13, 2017): 186–94. http://dx.doi.org/10.1108/bl-08-2017-0018.
Full textAbstract:
Purpose The aim of this conceptual paper is to review Bernstein’s communication wheel to make it a tool that can be used in the selection of a corporate communication mix. Design/methodology/approach A critical analysis of Bernstein’s communication wheel shows it to be a checklist, a starting point in the examination of corporate communication mix, but it is not as such of great help to the decision maker. Findings The findings of reviewing literature highlight that the principle of a clear distinction between strategic decisions and operational decisions is applicable also in the field of corporate communication. For each stakeholder relationship, the authors’ framework suggests typical combinations of activities and means to be used. These combinations are useful to experiment with expert systems which are functional to the choices of corporate communication mix. Practical implications The analysis of communication gaps gives directions for formulating strategic decisions. In this framework, tactical decisions concern the components of the communication mix architecture (or communication chain): activities, means and vehicles of communication. On the contrary, Bernstein’s communication wheel includes only generic channels (or media) and gives no indications as to the architecture of the communication mix. Originality/value This study illustrates the hierarchy of decisions relating to corporate communication mix, the communication wheel could also be useful in communication planning. If this assumption is held to be true it then becomes possible to lay out a framework for a progressive decision-making path that means making sequential choices (first strategic, then tactical). In the stakeholder approach, the aim of strategic decisions is to choose the stakeholder groups on which a firm has to focus its corporate communication activities.
30
Murphy, Tom, and Will O'Brien. "A strategic decision model for evaluating college and university sustainability investments." Management Research Review 37, no. 1 (January 14, 2014): 2–18. http://dx.doi.org/10.1108/mrr-10-2013-0244.
Full textAbstract:
Purpose – The paper aims to examine a strategic decision model and its potential value for assisting academic institutional leaders in addressing climate change by making better informed sustainability investment decisions. Design/methodology/approach – Although the vast majority of engagements have focused on IT project selection and prioritization, it will be demonstrated that there is direct applicability to capital investment decisions related to sustainability. Examples of the results are provided with instructions on how to implement a similar approach for organizations challenged with selection and prioritization of sustainability projects. Finally, the model is assessed critically in terms of challenges and lessons learned from client projects. Findings – The strategic decision model has been found to provide a broader framework for decisions, i.e. both qualitative and quantitative. At the same time, the methodology used with the model engages more stakeholders in the process to help build consensus regarding investment and project decisions. As a portfolio-based model, relative value and risk can be viewed easily to enable focus on what the stakeholders believe to be key projects. This perspective and the functionality of the application enable action to be taken by the decision maker to possibly reduce project risk and/or increase potential value of specific projects. Research limitations/implications – It was determined that additional research, data collection and application development would be necessary if the model were to be used for benchmarking for sustainability planning investment decisions. Practical implications – The paper proposes that colleges and universities consider the use of the portfolio decision model and, where appropriate, implement the model as part of their sustainability program. The anticipated benefits of this action would include: greater involvement of key stakeholders in support of required organizational change, improvement in the quality of investment decisions, increased success of sustainability projects and data which will enable future benchmarking. Originality/value – Given this emergent leading role of universities in championing sustainability efforts, the purpose of this paper is to provide college and university leaders a tool to address the challenges related to investment decisions targeted at sustainability projects, such as environmental footprint reduction in support of achieving sustainability for their respective institutions.
31
KOLNY, Damian, Dorota WIĘCEK, Paweł ZIOBRO, and Martin KRAJČOVIČ. "APPLICATION OF A COMPUTER TOOL MONITORING SYSTEM IN CNC MACHINING CENTRES." Applied Computer Science 13, no. 4 (December 30, 2017): 7–19. http://dx.doi.org/10.35784/acs-2017-25.
Full textAbstract:
The article presents practical knowledge about production process optimisation as a result of implementing a specialized system monitoring the work of machining tools. It features complex results of the conducted research with use of dedicated equipment and software, whose unconventional application may appear to be an effective IT tool for taking operational and strategic decisions in the machining area. This results from the possibility of analysing the obtained data in both current and long-term perspective, and taking decisions on this basis, which significantly conditions the rationality of using this type of solutions.
32
Gronau, Norbert. "Computer-supported workplace for the production manager — a tool for preparing strategic decisions." Computer Integrated Manufacturing Systems 6, no. 3 (August 1993): 161–66. http://dx.doi.org/10.1016/0951-5240(93)90014-h.
Full text
33
Vos, Bart, and Edwin van den Berg. "Assessing International Allocation Strategies." International Journal of Logistics Management 7, no. 2 (July 1, 1996): 69–84. http://dx.doi.org/10.1108/09574099610805539.
Full textAbstract:
Allocating the operations of multinational enterprises to geographic locations where performance can be optimized has become an important strategic issue. In view of the continuing growth of international trade and foreign direct investment, managers need systematic procedures to determine global allocation strategies. Available frameworks on global business strategy are typically abstract and generalized, making them less suited for the development of tailor‐made allocation strategies. Quantitative allocation models in operations research tend to be biased towards optimizing mathematical algorithms, making them less suited to support managerial decision making. This paper bridges the gap between generic strategy frameworks and highly quantitative operations research models by presenting a scanning tool to support decision making on strategic allocation issues. An important feature of this tool is to systematically filter available data, intended to quality and quantify critical product, process and market characteristics for specific product classes. The scanning tool has been applied in two cases, involving allocation decisions of a European multinational in the fast moving consumer goods industry.
34
DMYTRIIEVA, O., and Ya LEVCHENKO. "DECISION SUPPORT SYSTEM ON THE FORMATION AND IMPLEMENTATION OF THE STRATEGY OF TRANSPORT INFRASTRUCTURE INNOVATIVE DEVELOPMENT." Economics of the transport complex, no. 38 (November 25, 2021): 5. http://dx.doi.org/10.30977/etk.2225-2304.2021.38.5.
Full textAbstract:
The strategic level of public management of transport infrastructure innovative development is characterized by a high degree of uncertainty in the assessment of the environment, weak formalization of management methods and widespread use of expert assessments and knowledge, multicriteriality in assessing decisions. In order to improve the quality of strategic processes, it is necessary to use decision support systems. Based on the analysis of research, it is determined that decision support systems can overcome the difficulties associated with multicriteria, limited resources and incomplete information. The study identifies three levels of decision support systems, depending on the specifics of the tasks and the technology used. The authors determined the composition of the decision support system, which includes: file accumulation systems; data analysis systems; accounting systems; representative (image) systems; optimization systems; recommendation systems. Based on the existing approaches to the construction of decision support systems and certain procedures of strategic public administration, the article develops a decision support system for the formation and implementation of a strategy for innovative development of transport infrastructure. The authors proposed a system of decision support for the formation and implementation of a strategy for innovative development of transport infrastructure, which includes the consistent implementation of blocks. The study identifies elements of such a system, which include a set of task blocks (goal setting, project proposals, strategic alternatives, motivation, communication, controlling) and tool modules (data, expert evaluation, analytics, modeling). The use of the developed decision support system for the formation and implementation of the strategy of transport infrastructure innovative development allows to increase the quality and validity of strategic decisions and, accordingly, to ensure the possibility of effective implementation of strategic public administration.
35
N., Sytnik, Perminova S., and Vorzhakova Julia. "DESIGN STRATEGY AS A TOOL FOR DEVELOPING NEW PRODUCTS." Scientific Bulletin of Kherson State University. Series Economic Sciences, no. 45 (March 30, 2022): 42–49. http://dx.doi.org/10.32999/ksu2307-8030/2022-45-5.
Full textAbstract:
In the age of growing competition, the role of design rapidly transforms. It becomes a key element in customer-organization communication, a tool of new product development and business model optimization. The need for a design strategy arises in response to existing problems and challenges faced by organizations, in particular: unsatisfied customer needs; changes in customers behavior and attitudes towards the market; new ideas and trends emerging in the market. Design strategy allows to place design decisions in the context of corporate business strategy providing, at the same time, the effective process of developing new or improved products that meet customer needs. The arti-cle is devoted to the theoretical aspects of design strategy formation as a means to ensure the strategic direction of design decisions. The purpose of the article is to determine the general principles, prerequisites, tasks and stages of implementation of design strategy based on the analysis of design development trends in modern organizations. The general scheme of design strategy development in business projects is offered. It is based on the following principles: customer orientation which demands to keep in focus the needs of target audience; strategic synchronization with the organizational business strategy and the brand strategy; integration with the key business structures; cooperation with staff members at all stages of new product development. Tasks and prerequisites of design strategy are formulated. The general scheme of design strategy development is considered as a sequence of steps that should be taken into account in order to get strategic focus of design decisions. The design strategy development begins with a deep understanding of consumer needs and synchronizes with the business strategy and brand strategy. Design strategy is formed at the intersection of strategic and creative thinking, which allows to combine consistency, planning and cost-effectiveness with new ideas, creativity and innovation. Thus, application of the design strategy allows to consider creative design solutions in a strategic perspective, ensuring the achievement of long-term organizational goals.Keywords: design, strategic design, design strategy, design thinking, brand strategy, business strategy. У добу зростання конкуренції дизайн швидко трансформується, перетворюючись на ключовий елемент комунікації з клієнтами, розроблення нового продукту, прийняття управлінських рішень та оптимізації бізнес-моделі. Виклики, з якими стикаються сучасні організації, вимагають переосмислення традиційної ролі дизайну у напрямі більш системного його використання на всіх рівнях з урахуванням стратегічних перспектив розвитку організації. У статті розглянуто теоретичні аспекти формування дизайн-стратегії як інструменту забезпечення стратегічної спрямованості дизайнерських рішень. Проаналізовано етапі еволюції дизайну за рівнем його інтегрованості в бізнес-діяльність організацій. Сформульовано ключові принципи, завдання і передумови формування дизайн-стратегії. Запропоновано загальну схему розроблення дизайн-стратегії під час виконання проєктів, яка дає змогу забезпечити стратегічну спрямованість дизайнерських рішень.Ключові слова: дизайн, стратегічний дизайн, дизайн-стратегія, дизайн-мислення, цілеспрямований дизайн, бренд-стратегія, бізнес-стратегія.
36
Rincon, Jorge L., Sarel Lavy, and Jose L. Fernandez-Solis. "A Strategic Approach to Target Capital Investment on Facility Assets: Literature Review." Journal of Facility Management Education and Research 1, no. 1 (January 1, 2017): 30–39. http://dx.doi.org/10.22361/jfmer/76316.
Full textAbstract:
ABSTRACT Analysis of a strategic planning framework, proposed by Edward Zielinski, focused on reducing operational costs in Facility Management (FM) through using long-term best practices in capital investment. This paper indicates how that framework may assist in the FM decision process of capital investment allocation. The framework structure is integrated through: (1) alignment of FM decisions to the organizational strategy; (2) measuring FM performance with a data-driven approach; and (3) standardization of budgeting processes as support for FM credibility. The authors use a Structured Literature Review to investigate how previous research of the topic and subtopics supports the framework's objectives. Emphasis on referenced case studies aims to investigate the applicability of this framework by FM practitioners. The framework is fully applicable to FM operations. The case study analysis suggests it is a powerful tool for supporting capital investment decisions in organizations. Benefits foreseen include: value creation through alignment of FM decisions to organizational goals, risk control in short-, mid- and long-term FM decisions, creation of structured procedures for FM data acquisition supporting stakeholders' decisions, increased FM credibility through budgeting process standardization, improvement of FM operations efficiency, and senior management awareness of FM priorities. This paper encourages FM practitioners to structure their daily operations by addressing the three most challenging aspects of this profession: understand the client, capitalize valuable knowledge, and secure funding.
37
Levitsky, S. "Concept of controlling in the process of generating strategic information." Galic'kij ekonomičnij visnik 74, no. 1 (2022): 47–52. http://dx.doi.org/10.33108/galicianvisnyk_tntu2022.01.047.
Full textAbstract:
The article critically analyzes the literature and finds that the definition of the term «controlling» combines two components: controlling as a philosophy and controlling as a tool. It is proved that the main purpose of controlling is to focus the management process on achieving the objectives of financial and economic activities of the enterprise and information support of related management decisions. The main differences between strategic and operational controlling are given. The place of controlling in the enterprise management system has been determined, therefore the controlling system should be appropriate and operative, as the speed of making managerial decisions affects the efficiency of the enterprise. It is proved that the decision-making process based on the indicators of the controlling system is inextricably linked with the speed of the process itself and responding to changes in the internal and external environment of the enterprise. The controlling system must be continuous in time (characterized by repeatability of elements) and multi-stage. It is determined that one of the most significant differences between controlling and accounting is the direction of its information flow. In the process of implementation of all stages of controlling it is important to use the following tools: the formation of «fair value» of the entity; budgeting of the enterprise as its stages and all activities in general; use of a system of balanced scores; receiving, processing, transmitting, storing and displaying information to make effective management decisions by means of accounting; control over the effectiveness of socially responsible activities. When developing a business management system, it is necessary to give a key role to the quality of information received, the speed of its formation and transmission, as it is the basis for decision-making. The main source of such information is reporting, auxiliary – the entire database of the enterprise and formed on its basis financial, tax and statistical reporting. The information in the controlling system is cyclical and its main source is accounting and information support in the form of accounting documents.
38
Levitsky, S. "Concept of controlling in the process of generating strategic information." Galic'kij ekonomičnij visnik 74, no. 1 (2022): 47–52. http://dx.doi.org/10.33108/galicianvisnyk_tntu2022.01.047.
Full textAbstract:
The article critically analyzes the literature and finds that the definition of the term «controlling» combines two components: controlling as a philosophy and controlling as a tool. It is proved that the main purpose of controlling is to focus the management process on achieving the objectives of financial and economic activities of the enterprise and information support of related management decisions. The main differences between strategic and operational controlling are given. The place of controlling in the enterprise management system has been determined, therefore the controlling system should be appropriate and operative, as the speed of making managerial decisions affects the efficiency of the enterprise. It is proved that the decision-making process based on the indicators of the controlling system is inextricably linked with the speed of the process itself and responding to changes in the internal and external environment of the enterprise. The controlling system must be continuous in time (characterized by repeatability of elements) and multi-stage. It is determined that one of the most significant differences between controlling and accounting is the direction of its information flow. In the process of implementation of all stages of controlling it is important to use the following tools: the formation of «fair value» of the entity; budgeting of the enterprise as its stages and all activities in general; use of a system of balanced scores; receiving, processing, transmitting, storing and displaying information to make effective management decisions by means of accounting; control over the effectiveness of socially responsible activities. When developing a business management system, it is necessary to give a key role to the quality of information received, the speed of its formation and transmission, as it is the basis for decision-making. The main source of such information is reporting, auxiliary – the entire database of the enterprise and formed on its basis financial, tax and statistical reporting. The information in the controlling system is cyclical and its main source is accounting and information support in the form of accounting documents.
39
Secundo, Giustina, Gianluca Elia, Alessandro Margherita, and Karl-Heinz Leitner. "Strategic decision making in project management: a knowledge visualization framework." Management Decision 60, no. 4 (September 27, 2021): 1159–81. http://dx.doi.org/10.1108/md-02-2021-0196.
Full textAbstract:
PurposeManaging a project involves taking a number of critical decisions that can have a crucial impact on the success or failure of the initiative. The analytical definition and visualization of the main components of a project can support project managers engaged to address the right issues at the right time. This article aims to identify crucial crossroads in the management of a project and to provide a visual representation of knowledge involved into a system of project components and decisions.Design/methodology/approachA design science process is adopted to define the initial goals and requirements and to develop the knowledge visualization framework. Expert feedback is also gathered to obtain a preliminary validation of the framework.FindingsMoving from a system view of project dimensions, we identify eight types of strategic decisions, i.e. growth, problem shifting, goals balancing, escalation, rewarding, resource allocation, problem fixing and cooperation. We then present a visualization map of project decision making addressing six categories of knowledge (i.e. “what-knowledge”, “how-knowledge”, “who-knowledge”, “why-knowledge”, “what for-knowledge”, “when-knowledge”).Research limitations/implicationsThe framework needs further theoretical refinement in terms of more fine-grained decision types, other determinants and the reciprocal influence in the management of project activities.Practical implicationsThe article can support project managers attempting to build a comprehensive view of project decisions, and it can be a basis to develop novel types of knowledge management systems for project-related applications.Originality/valueThe article proposes a new approach to sustain strategic decision making in project management by adopting a knowledge visualization view. Moreover, it provides an operational tool for managers and analysts at different levels engaged into the management of a project.
40
Haider, Sajjad, and Francesca Mariotti. "Unfolding critical events and strategic decisions: the role of spatial and temporal cognition." Management Decision 54, no. 7 (August 15, 2016): 1813–42. http://dx.doi.org/10.1108/md-11-2015-0521.
Full textAbstract:
Purpose – The purpose of this paper is to examine strategic decisions surrounding critical events to show how the decision-making processes evolve and how the dominant logic changes vis-à-vis those decisions. Further, this study explores the processes of managerial decision making focusing on spatial and temporal cognition dimensions. Design/methodology/approach – The methodology adopted in this study is a case study using the retrospective processual analysis approach. Data were collected using both primary and secondary sources. In all, 40 years of secondary data on key critical events and decision making were collected using a range of secondary sources. Those events were further examined using 49 in-depth semi structured interviews. Findings – The findings of this study explain the relationship between operant conditions, strategic actions and outcomes of strategic decisions by highlighting the significance of knowledge strategy, strategic agility and intentionality in shaping and reshaping managers’ dominant logic. Further, the authors show that the dominant coalition, among other factors, plays an important role in building decision-making capacity and in the formation and transformation of an existing dominant logic. Research limitations/implications – The study identified a number of limitations. First, the issue of generalization as the data were collected from only two case study companies. Second, in some cases respondents were asked to respond to research questions using “memory of the events” which took place a long time ago, hence the issue of credibility. Further, sometimes respondents reported information collected through hearsay. To overcome the limitations of this research, the authors made all efforts to ensure that the data collected were reliable and credible such as by using diverse data sources, confirmation of events at multiple level and personal observations. Practical implications – The study identifies and explains a number of factors which influence decision making. The authors also present the revised dominant logic model which can act as a tool in managerial decision making. Originality/value – The paper shows how managerial decision making changes knowledge strategy, which in turn leads to changes in existing dominant logic or the creation of a new dominant logic, hence looking at the issues of decision making using an evolutionary perspective. Second, the paper empirically tests and explains the relationship between intentionality, actions and organizational outcomes using spatial and temporal learning. Finally, the use of the longitudinal retrospective processual analysis and events analysis, is a novel way of understanding a particular phenomenon.
41
PARTHASARATHY, V. R. PERRY. "Managing uncertainty: A case for using real options with option pricing model (OPM) to evaluate capital investment." TAPPI Journal 12, no. 7 (August 1, 2013): 69–77. http://dx.doi.org/10.32964/tj12.7.69.
Full textAbstract:
The pulp and paper industry relies heavily on the traditional discounted cash flow-based net present value (DCF-NPV) for making capital investment decisions. The deficiency of the DCF-NPV model is that it is static; once a pattern of cash flow is established, management does not have the option to change the direction when new information is available. However, flexibility to alter the investment decision is a powerful strategic and capital investment tool. Abundant research has established strong precedence for applications of “real options” in operational and strategic settings to provide useful insights in the evaluation of irreversible investments under uncertainty. The binomial or Black-Scholes option pricing model (OPM) for strategic planning and capital investment has been used in many other industries but not in the pulp and paper industry. The pulp and paper industry, though very capital intensive, has provided poor to moderate return on investment or return on capital and has never used the OPM and the flexibility it offers for capital investment decisions. This paper makes a case for using OPM for capital investment decisions by using the example of a hypothetical North American mill considering investments to modernize its papermaking operation.
42
Battagello, Franco Maria, Livio Cricelli, and Michele Grimaldi. "Prioritization of Strategic Intangible Assets in Make/Buy Decisions." Sustainability 11, no. 5 (February 27, 2019): 1267. http://dx.doi.org/10.3390/su11051267.
Full textAbstract:
Every company, in a knowledge-based economy and, in a sustainability-aware era, is “doomed” to deal with a critical mass of strategic assets, in order to achieve a sustainable competitive advantage. Maintaining this system up-to-date requires financial/organizational efforts. Therefore, in order to optimize performance, it is necessary to detect which are the assets that can be outsourced/externalized without jeopardizing the business model architecture. Nevertheless, several studies confirm the inherent risks upcoming with any decision of outsourcing; pursuing a bearable long-term advantage over competitors mostly involves combinations of resources and capabilities, i.e., intangible assets. By the means of a multi-criteria indicator, the proposed framework builds a quantitative relational ranking of such resources, disclosing their critical weight (revealing which assets are actually strategic), hence the convenience for each of them to be outsourced or kept “in-house” to create sustainable value. This solution permits a strategy-level prioritization to take informed decisions on outsourcing candidates, also returning further analytics on the status of each investigated entity. Designed as a discriminating tool in make/buy resolutions to be used alongside traditional cost-based criteria, it represents a comprehensive approach capable of appreciating the complexity of the problem and the involved risks in order to keep a sustainable momentum.
43
Aguezzoul, Aicha, and Gilles Paché. "A Decision Making Tool for Selection of LSPs." International Journal of Business and Management 13, no. 5 (April 18, 2018): 95. http://dx.doi.org/10.5539/ijbm.v13n5p95.
Full textAbstract:
This research note aims to propose a multiple criteria decision making (MCDM) based on ELECTRE method to solve the logistics service providers (LSPs) selection problem. In the contemporary global market, this selection represents a strategic process and a complex issue, as it involves various qualitative and quantitative criteria as well as decisions. The proposed model consists of two phases: (1) a survey of French firms was carried out so as to identify the factors that should be considered in the LSPs selection decision; (2) an application of the model, as well as its comparison with the weighted sum, were conducted. The approach uses criteria that are important for the firms that participated to the survey. The results indicate that the ELECTRE method suggests a better ranking of the LSPs than the weighted sum, initially used in the case study. The proposed MCDM model can provide the guidelines and directions for the decision makers to effectively choose LSPs in the current competitive environment. In addition, this study fills a gap in the literature on LSPs selection problem, where MCDM methods are seldom used.
44
Malashkin, Maksym, Dmуtrо Rуzhаkov, Ilya Kushnir, Iryna Druzhynina, Anatoliy Vakolyuk, and Julia Maximyuk. "FUNCTIONAL AND INSTRUMENTAL APPROACHES TO IDENTIFICATION OF THE BENCHMARKING STRATEGY OF CONSTRUCTION COMPANIES." Management of Development of Complex Systems, no. 45 (March 1, 2021): 150–60. http://dx.doi.org/10.32347/2412-9933.2021.45.150-160.
Full textAbstract:
In the conditions of turbulent environment, globalization of economic processes, highly competitive market, limited resources, the priority tasks for domestic enterprises are: search for new factors to increase competitiveness; improving and more active use of marketing management tools, and in particular strengthening the importance of its analytical function in strategic decision-making. The solution to this problem is associated with the development and implementation of strategies for active innovative development of enterprises, where the central place should be given to strategic benchmarking, in order to study and apply best practices. It, as the most relevant tool of strategic management, raises research to a qualitatively new level, focuses on anticipating the development of the object of management. Integrating into the management system and corporate culture of the enterprise, strategic benchmarking allows you to set goals that meet the requirements of the global market, to identify the best strategic decisions and business strategies to systematically improve its activities. The need and possibility to use the advanced world and domestic achievements is an urgent need of Ukrainian business. In this regard, the study of methodological approaches to the effective organization of strategic benchmarking and the creation of applied developments that facilitate its implementation in the management system of domestic enterprises, is timely and relevant.
45
Ragheb, Ghada Ahmed. "Multi-Criteria Decision Making of Sustainable Adaptive Reuse of Heritage Buildings Based on the A'WOT Analysis: A Case Study of Cordahi Complex, Alexandria, Egypt." International Journal of Sustainable Development and Planning 16, no. 3 (June 22, 2021): 485–95. http://dx.doi.org/10.18280/ijsdp.160309.
Full textAbstract:
This study presents a multi-criteria strategic approach of decision-making in sustainable adaptive reuse by evaluating cultural heritage assets and identifying potential alternatives. For effective preservation, adaptive reuse of heritage buildings is a strategic decision. Whereas adaptive reuse decisions are based on several, sometimes contradictory criteria, in addition to decisions from multiple parties and stakeholders are potentially inconsistent. This research finds that the reuse process should consider many important criteria to expand and enhance the knowledge base. This paper presents a systematic application and analytical method in decision-making for adaptive reuse of heritage Cordahi complex in Alexandria, Egypt. The A'WOT analysis application was used as an analytical tool to obtain results through the integration of a SWOT matrix and an Analytical Hierarchy (AHP) process. The SWOT technique was used to examine the internal and external factors and identify the important strategic factors, then apply the AHP method to prioritize these factors to make them measurable. Then, SWOT priority factors were used to formulate strategies using the TOWS Matrix. The proposed strategy relates to protecting and promoting the importance of heritage and the context, enhance the tourism potential, economic development for the population, interpretation strategy, community engagement, sustainable management, partnerships.
46
Chiranov, Marcel. "Creating measurement addiction – a tool for better advocacy and improved management." Performance Measurement and Metrics 15, no. 3 (November 4, 2014): 99–111. http://dx.doi.org/10.1108/pmm-05-2014-0016.
Full textAbstract:
Purpose – The purpose of this paper is to address an important but neglected aspect of evidence-based management, how to apply actionable data to strategic decision making to support the organization in reaching appropriate decisions. This process involves connecting advocacy work with active measures to collect and interpret impact data, which are the real ingredient to help understand the big picture and make advocacy more efficient. Design/methodology/approach – The paper presents two complementary models of intervention to better use relevant data to help management decisions, within the program team and beyond the program team. In both cases the paper attempts to identify the key factors in understanding outcome evidence in order to have better communication and help the decision-taking process. Findings – Customizing evaluation results in order to present the information in an accessible form for various stakeholders appears to be a key factor in delivering the right message and having a successful advocacy campaign. Originality/value – This paper reports on two complementary approaches to persuade stakeholders (program managers, or stakeholders external to the program team) to take action based on specific impact or management data delivery. The idea is potentially appropriate for any program, or project, where advocacy processes are needed to determine appropriate actions. Processing and presenting data in an actionable way is a key success factor to determine the expected management decision or successful advocacy step.
47
Митяков, С. Н., О. И. Митякова, Д. Н. Лапаев, Н. А. Мурашова, and Е. С. Мокрецова. "INNOVATION AUDIT AS A KEY TOOL FOR INNOVATION MANAGEMENT." Audit and Financial Analysis, no. 6 (December 31, 2020): 76–81. http://dx.doi.org/10.38097/afa.2020.28.70.007.
Full textAbstract:
Принятие эффективных управленческих решений, направленных на развитие инновационной деятельности как предприятий, так и региона, обеспечивается качеством и детальностью информации о социально-экономической системе. В работе представлена технология и методика одного из инструментов для принятия стратегических и оперативных решений на разных уровнях управления – инновационного аудита. Приводится пример реализации инновационного аудита на предприятиях Нижегородской области. The adoption of effective managerial decisions aimed at developing innovative activities of both enterprises and the region is ensured by the quality and detail of information on the socio-economic system. The paper presents the technology and methodology of one of the tools for making strategic and operational decisions at different levels of management - innovative audit. An example of the implementation of innovative audit at enterprises of the Nizhny Novgorod region is given.
48
Митяков, С. Н., О. И. Митякова, Д. Н. Лапаев, Н. А. Мурашова, and Е. С. Мокрецова. "INNOVATION AUDIT AS A KEY TOOL FOR INNOVATION MANAGEMENT." Audit and Financial Analysis, no. 6 (December 31, 2020): 76–81. http://dx.doi.org/10.38097/afa.2020.28.70.007.
Full textAbstract:
Принятие эффективных управленческих решений, направленных на развитие инновационной деятельности как предприятий, так и региона, обеспечивается качеством и детальностью информации о социально-экономической системе. В работе представлена технология и методика одного из инструментов для принятия стратегических и оперативных решений на разных уровнях управления – инновационного аудита. Приводится пример реализации инновационного аудита на предприятиях Нижегородской области. The adoption of effective managerial decisions aimed at developing innovative activities of both enterprises and the region is ensured by the quality and detail of information on the socio-economic system. The paper presents the technology and methodology of one of the tools for making strategic and operational decisions at different levels of management - innovative audit. An example of the implementation of innovative audit at enterprises of the Nizhny Novgorod region is given.
49
Siraën, Jean-Marc. "VERs as Strategic Trade Policies." Recherches économiques de Louvain 60, no. 2 (June 1994): 197–210. http://dx.doi.org/10.1017/s0770451800005790.
Full textAbstract:
SummaryLiterature about strategic trade policy (Brender, Krugman,…) has been concerned only with implicit internal strategic trade policies. We define them as policy tools targeting exclusively the behavior of national firms. In duopolistic terms, the goal is to move the reaction function of the domestic firm and to locate it in a better position than previously. The home country government must credibly commits itself to pursue a particular trade policy before firms make decisions about prices or production. On the contrary, external strategic trade policies influence the behaviour of foreign firms and force them to act in the way desired by the home government. Mixed strategies associate both actions and may lead to a collusive agreement. We show that if subsidy is an attractive policy tool for internal strategic trade policy with Cournot-Nash competition, Voluntary Export Restraints agreements are an equivalent and alternative strategic trade policy for governments having more preference for fiscal restraints than for the surplus of consumers and the general welfare. It is acceptable by foreign firms because they are less predatory than alternative measures. Retaliations by foreign countries are avoided by the agreement; VERs allow to impose a co-operative framework.
50
BASHEER, Muhammad Farhan, Muhammad IMRAN, Siti Norasyikin Abdul HAMID, and Azelin AZIZ. "PROJECT SELECTION FOR GROUP DECISION MAKING: A MULTIPLE PROJECT PERSPECTIVE FROM PAKISTAN." Business & Management Studies: An International Journal 6, no. 3 (November 29, 2018): 190–203. http://dx.doi.org/10.15295/bmij.v6i3.377.
Full textAbstract:
Decision making is one of the primary functions of management. Making strategic decisions are important to achieve organisational efficiency and effectiveness. In the selection of projects, it is necessary for organisations to prioritise their projects due to limited resources. Therefore, the selection of projects that bring value and substantial impact on the organisation is very important to ensure that they can compete in the dynamic external environment and meet the goals and objectives. From the case study, the result suggests that the Analytical Hierarchy Process (AHP) method can contribute significantly to the identification of sources that need further clarification of attributes and criteria and at the same time it can provide a systematic analytical tool in making a group decision. This method allows the organisation to prioritize its projects based on certain criteria as it is a quantitative decision support tool. In conclusion, AHP is the best and efficient method for decision makers to consider all facts, weigh the pluses and minuses, reach, reevaluate and communicate their decisions.