Search results for: strategic decisions.

Authors: Ivana Bulog

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Decision making is a vital part of the business world and any other field of human endeavor. Which way a business organization will take, and where that way will lead it, depends on broad range of decisions made by managers in the managerial structure. Strategic decisions are of the greatest importance for organizational success. Although much empirical research has been done trying to describe and explain its nature and effectiveness, knowledge about strategic decision making is still incomplete. This paper explores the nature of strategic decision making in particular setting - in Croatian companies. The main focus of this research is on the style that decision makers on strategic management level are following when making decisions of life importance for their companies. Two main decision making style that explain the way decision maker collects and processes available information and performs all the activities in strategic decision making process were empirical tested: rational and intuitive one. Besides analyzing their existence on strategic management level in Croatian companies, their effectiveness is analyzed as well. Results showed that decision makers at strategic management level are following both styles somewhat equally in order to function effectively, and that intuitive style is more effective when considering decisions outcomes.

Keywords: Decision making style, decision making effectiveness, strategic decisions.

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Authors: R. Chalal, A. R. Ghomari

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Preparation and negotiation of innovative and future projects can be characterized as a strategic-type decision situation, involving many uncertainties and an unpredictable environment. We will focus in this paper on the bidding process. It includes cooperative and strategic decisions. Our approach for bidding process knowledge capitalization is aimed at information management in project-oriented organizations, based on the MUSIC (Management and Use of Co-operative Information Systems) model. We will show how to capitalize the company strategic knowledge and also how to organize the corporate memory. The result of the adopted approach is improvement of corporate memory quality.

Keywords: Bidding process, corporate memory, Knowledge capitalization, knowledge acquisition, strategic decisions.

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Authors: S. Sabbour, H. Lasi, P. von Tessin

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The purpose of this study is two-fold. First, it attempts to explore potential opportunities for utilizing visual interactive simulations along with Business Intelligence (BI) as a decision support tool for strategic decision making. Second, it tries to figure out the essential top-level managerial requirements that would transform strategic decision simulation into an integral component of BI systems. The domain of particular interest was the application of visual interactive simulation capabilities in the field of supply chains. A qualitative exploratory method was applied, through the use of interviews with two leading companies. The collected data was then analysed to demonstrate the difference between the literature perspective and the practical managerial perspective on the issue. The results of the study suggest that although the use of simulation particularly in managing supply chains is very evident in literature, yet, in practice such utilization is still in its infancy, particularly regarding strategic decisions. Based on the insights a prototype of a simulation based BI-solution-extension was developed and evaluated.

Keywords: Business Intelligence, decision support, strategic decisions, simulation, SCM.

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Authors: A. K. Abdel-Fattah, A. B. El-Tawil, N. A. Harraz

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This paper focuses on the operational and strategic planning decisions related to the quayside of container terminals. We introduce an integrated operational research (OR) and system dynamics (SD) approach to solve the Berth Allocation Problem (BAP) and the Quay Crane Assignment Problem (QCAP). A BAP-QCAP optimization modeling approach which considers practical aspects not studied before in the integration of BAP and QCAP is discussed. A conceptual SD model is developed to determine the long-term effect of optimization on the system behavior factors like resource utilization, attractiveness to port, number of incoming vessels to port and port profits. The framework can be used for improving the operational efficiency of container terminals and providing a strategic view after applying optimization.

Keywords: Operational research, system dynamics, container terminal, quayside operational problems, strategic planning decisions.

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Authors: Kemalettin Eryeşil, Aykut Bedük, Mehtap Fındık

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The aim of this study is to determine the effect of strategic management implementations on the institutionalization levels. In this regard a field study has been made over 31 stone quarry enterprises in cement producing sector in Konya by using survey method. In this study, institutionalization levels of the enterprises have been evaluated regarding three dimensions: professionalization, management approach, participation in decisions and delegation of authority. According to the results of the survey, there is a highly positive and statistically significant relationship between the strategic management implementations and institutionalization levels of the enterprises. Additionally,-considering the results of regression analysis made for establishing the relationship between strategic management and institutionalization levels- it has been determined that strategic management implementations of the enterprises can be used as a variable to explain the institutionalization levels of them, and also strategic management implementations of the enterprises increase the institutionalization levels of them.

Keywords: Institutionalization, Management, Strategic Management.

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Authors: Terezie Bartusková, Jitka Baňařová, Zuzana Kusněřová

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Importance of strategic planning is unquestionable. However, the practical implementation of a strategic plan faces too many obstacles. The aim of the article is explained the importance of strategic planning and to find how companies in Moravian-Silesian Region deal with strategic planning, and to introduce the model, which helps to set strategic goals in financial indicators area. This model should be part of the whole process of strategic planning and can be use to predict the future values of financial indicators of the company with regard to the factor, which influence these indicators.

Keywords: Planning of Potentials, Planning of Strategic Objectives, Portfolio Planning, Significant Factors, Strategic Planning.

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Authors: D. Danesh, M. J. Ryan, A. Abbasi

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Project Portfolio Management (PPM) is an essential component of an organisation’s strategic procedures, which requires attention of several factors to envisage a range of long-term outcomes to support strategic project portfolio decisions. To evaluate overall efficiency at the portfolio level, it is essential to identify the functionality of specific projects as well as to aggregate those findings in a mathematically meaningful manner that indicates the strategic significance of the associated projects at a number of levels of abstraction. PPM success is directly associated with the quality of decisions made and poor judgment increases portfolio costs. Hence, various Multi-Criteria Decision Making (MCDM) techniques have been designed and employed to support the decision-making functions. This paper reviews possible options to enhance the decision-making outcomes in organisational portfolio management processes using the Analytic Hierarchy Process (AHP) both from academic and practical perspectives and will examine the usability, certainty and quality of the technique. The results of the study will also provide insight into the technical risk associated with current decision-making model to underpin initiative tracking and strategic portfolio management.

Keywords: Analytic hierarchy process, decision support systems, multi-criteria decision-making, project portfolio management.

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Authors: M. D. Nayeri, M. M. Mashhadi, K. Mohajeri

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Defining strategic position of the organizations within the industry environment is one of the basic and most important phases of strategic planning to which extent that one of the fundamental schools of strategic planning is the strategic positioning school. In today-s knowledge-based economy and dynamic environment, it is essential for universities as the centers of education, knowledge creation and knowledge worker evolvement. Till now, variant models with different approaches to strategic positioning are deployed in defining the strategic position within the various industries. Balanced Scorecard as one of the powerful models for strategic positioning, analyzes all aspects of the organization evenly. In this paper with the consideration of BSC strength in strategic evaluation, it is used for analyzing the environmental position of the best-s Iranian Business Schools. The results could be used in developing strategic plans for these schools as well as other Iranian Management and Business Schools.

Keywords: Strategic planning, Strategic position, Balancedscorecard, Higher education institutions.

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Authors: Dimitrios J. Dimitriou

Abstract:

The decades after the end of the second War provide evidence that infrastructures investments contibute to economic development, on terms of productivity and income growth. In order to force productivity and increase competitiveness the financing of large transport infrastructure projects are on the top of the agenda in strategic planning process. Such a decision may take form some days to some decades and stakeholders as well as decision makers need tools in order to estimate the economic impact on natioanl economy of such an investment. The key question in such decisions is if the effects caused by the new infrastructure could be able to boost economic development on one hand, and create new jobs and activities on the other. This paper deals with the review of estimation of the mega transport infrastructure projects economic effects in economy.

Keywords: Economic impact, transport infrastructure, strategic planning.

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Authors: Wuttigrai Ngamsirijit

Abstract:

Talent management in today’s modern organizations has become data-driven due to a demand for objective human resource decision making and development of analytics technologies. HR managers have been faced with some obstacles in exploiting data and information to obtain their effective talent management decisions. These include process-based data and records; insufficient human capital-related measures and metrics; lack of capabilities in data modeling in strategic manners; and, time consuming to add up numbers and make decisions. This paper proposes a framework of talent management through integration of talent value chain and human capital analytics approaches. It encompasses key data, measures, and metrics regarding strategic talent management decisions along the organizational and talent value chain. Moreover, specific predictive and prescriptive models incorporating these data and information are recommended to help managers in understanding the state of talent, gaps in managing talent and the organization, and the ways to develop optimized talent strategies.    

Keywords: Decision making, human capital analytics, talent management, talent value chain.

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Authors: C. Ardil

Abstract:

This paper considers a comparative analysis of multiple criteria decision making analysis methods for strategic, tactical, and operational decisions in military fighter aircraft selection for the air force fleet planning. The evaluation criteria governing the decision analysis process are determined from the literature for the three existing military combat aircraft. Military fighter aircraft selection problem is structured using "preference analysis for reference ideal solution (PARIS)” approach in multiple criteria decision analysis (MCDMA). Systematic comparisons were made with existing MCDMA methods (PARIS, and TOPSIS) to verify the stability and accuracy of the results obtained. The proposed integrated MCDMA systematic approach is expected to address the issues encountered in the aircraft selection process. The comparative analysis results show that the proposed method is an effective and accurate tool that can help analysts make better strategic, tactical, and operational decisions.

Keywords: aircraft, military fighter aircraft selection, multiple criteria decision making, multiple criteria decision making analysis, mean weight, entropy weight, MCDMA, PARIS, TOPSIS, Saab Gripen, Dassault Rafale, Eurofighter Typhoon

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Authors: Lucie Valečková

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In contemporary global and dynamically developing environment there is a need of the strategic planning fundamental. It is complicated, but at the same time important process from the point of view of continual keeping of competitive advantage. The aim of the paper is formulation of strategic goals for the needs of the small enterprises. There will be used Balanced Scorecard as a balanced system of the indicators for the clearing and transferring vision into particular goals. In particular perspectives the theme will be focused on strategic goals. Consequently will be mention the concept of the competitiveness IDINMOSU. This connect to Balanced Scorecard.

Keywords: Corporate strategic management, strategic goals, Balanced Scorecard, strategic operations

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Authors: S. Madhavi, K. Baala Srinivas, G. Bharath, R. K. Indhuja, M. Kowser Chandini

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Game theory is the study of how people interact and make decisions to handle competitive situations. It has mainly been developed to study decision making in complex situations. Humans routinely alter their behaviour in response to changes in their social and physical environment. As a consequence, the outcomes of decisions that depend on the behaviour of multiple decision makers are difficult to predict and require highly adaptive decision-making strategies. In addition to the decision makers may have preferences regarding consequences to other individuals and choose their actions to improve or reduce the well-being of others. Nash equilibrium is a fundamental concept in the theory of games and the most widely used method of predicting the outcome of a strategic interaction in the social sciences. A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. On the other hand, no player in the game would take a different action as long as every other player remains the same.

Keywords: Game Theory, Nash Equilibrium, Rules of Dominance.

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Authors: Anita D. Adamu, Winston M. W. Shakantu

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Maintenance management is no longer a stand-alone activity. It has now assumed a strategic position in many organisations that have recognised its importance in achieving primary goals and a key aspect of effective management of facilities. This paper aims at providing an understanding of the role and function of strategic management in creating and sustaining an effective maintenance management system in an organisation. The background provides an articulated concept and principles of strategic management. The theoretical concepts paved way for a conceptual framework for which strategic management can be integrated into the maintenance management system of an organisation to improve effectiveness in the maintenance of facilities.

Keywords: Facilities, maintenance management, organisations, strategic management.

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Authors: M. M. Mashhadi, K. Mohajeri, M. D. Nayeri

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Positioning the organization in the strategic environment of its industry is one of the first and most important phases of the organizational strategic planning and in today knowledge-based economy has its importance been duplicated for higher education institutes as the centers of education, knowledge creation and knowledge worker training. Up to now, various models with diverse approaches have been applied to investigate organizations- strategic position in different industries. Regarding the essential importance and strategic role of quality in higher education institutes, in this study, a quality-oriented approach has been suggested to positioning them in their strategic environment. Then the European Foundation of Quality Management (EFQM) model has been adopted to position the top Iranian business schools in their strategic environment. The result of this study can be used in strategic planning of these institutes as well as the other Iranian business schools.

Keywords: Strategic planning, Strategic positioning, Quality, EFQM model, Higher education institutions.

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Authors: Elias O. Tembe, Hussain A. Al-Salamin

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There is decagram of strategic decisions of operations and production/service management (POSM) within operational research (OR) which must collate, namely: design, inventory, quality, location, process and capacity, layout, scheduling, maintain ace, and supply chain. This paper presents an architectural configuration conceptual framework of a decagram of sets decisions in a form of mathematical complete graph and abelian graph. Mathematically, a complete graph is undirected (UDG), and directed (DG) a relationship where every pair of vertices is connected, collated, confluent, and holomorphic. There has not been any study conducted which, however, prioritizes the holomorphic sets which of POMS within OR field of study. The study utilizes OR structured technique known as The Analytic Hierarchy Process (AHP) analysis for organizing, sorting and prioritizing(ranking) the sets within the decagram of POMS according to their attribution (propensity), and provides an analysis how the prioritization has real-world application within the 21st century.

Keywords: AHP analysis, Decagram, Decagon, Holomorphic.

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Authors: K. Eryesil, O. Esmen, A. Beduk

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In this study, it has been studied to determine the relationship between business performance and strategic flexibility, which is defined to be the strategic choice that provides the ability of rapidly responding the changes of the dynamic environment of the companies, for having competitive advantages. In this context a field study has been conducted over 56 companies, which are active in informatics and electronics sectors in TEKNOKENT. As a result of the study it has been determined that; strategic flexibility has an effect on business performance and there is a positive and statistically significant relationship between strategic flexibility and business performance.

Keywords: Sustainable Competition Advantage, Strategic Flexibility, Firm Performance, TEKNOKENT.

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Authors: F. Demir

Abstract:

Strategic Management is highly critical for all types of organizations. This paper examines maturity level of strategic management practices of public and private sector organizations in Turkey, and presents a conceptual model for assessing the maturity of strategic management in any organization. This research focuses on R&D intensive organizations (RDO) because it is claimed that such organizations are more innovative and innovation is a critical part of the model. The Strategic management maturity model (S-3M) is basically composed of six maturity levels with five different dimensions. Based on 63 organizations, the findings reveal that the average maturity of all organizations in the sample group is three out of five. It corresponds to the stage of ‘performed’. Results simply show that the majority of organizations from various industries and sectors implement strategic management activities; however, they experience multiple challenges to optimize strategic management processes and integrate organizational components with business strategies. Briefly, they struggle to become an innovative organization.

Keywords: Strategic management, innovation, developing countries, research and development.

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Authors: Alireza Azimi Sani

Abstract:

This paper discusses the design characteristics management accounting systems should have to be useful for strategic planning and control and provides brief introductions to strategic variance analysis, profit-linked performance measurement models and balanced scorecard. It shows two multi-period, multiproduct models are specified, can be related to Porter's strategy framework and cost and revenue drivers, and can be used to support strategic planning, control and cost management.

Keywords: Accounting, balanced scorecard, profit-linked, strategic management, variance analysis.

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Authors: Frantisek Jezek, Jan Sedlacek

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This paper is concerned with the role strategic management plays in higher education and the methods it entails. Using the University of West Bohemia and the Czech Republic as examples, the paper describes the methods used in furthering strategic objectives within institutions and their different parts (faculties, institutes). The nature of the demands faced by the university dictates the need for a strategic framework which defines the basic objectives and parameters of tertiary education and research in a local, regional and national context. Sharing strategies with a wider range of actors (universities, cities, regions, the practical sphere) is key to laying the foundations for more efficient cooperation.

Keywords: Strategy, strategic plan, university, university environment.

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Authors: Kusumaphorn Sompong, Helen Lawton Smith, Barbara Igel

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This paper provides a key driver-based conceptual framework that can be used to improve a firm-s success in commercializing technology and in new product innovation resulting from collaboration with other organizations through strategic alliances. Based on a qualitative study using an interview approach, strategic alliances of entrepreneurs in the food processing industry in Thailand are explored. This paper describes factors affecting decisions to collaborate through alliances. It identifies four issues: maintaining the efficiency of the value chain for production capability, adapting to present and future competition, careful assessment of value of outcomes, and management of innovation. We consider five driving factors: resource orientation, assessment of risk, business opportunity, sharing of benefits and confidence in alliance partners. These factors will be of interest to entrepreneurs and policy makers with regard to further understanding of the direction of business strategies.

Keywords: Managing collaboration, strategic alliance, technology commercialization, innovation.

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Authors: Z. Liu, K. Cao

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Strategic spatial planning, which is taken as an effective and competitive way for the governors of the city to improve the development and management level of a city, has been blooming in recent years all over the world. In the context of globalization and informatization, strategic spatial planning must transfer its focus on three different levels: global, regional and urban. Internal and external changes in environmental conditions lead to new advances in strategic planning both theoretically and practically. However, such advances or changes respond differently to cities on account of different dynamic mechanisms. This article aims at two cities of Tianjin in China and Melbourne in Australia, through a comparative study on strategic planning, to explore the differentiation of mechanisms in urban planning making. By comparison and exploration, the purpose of this article is to exhibit two different planning worlds between western and Chinese in a new way nowadays.

Keywords: Differentiation, Tianjin China, Melbourne Australia, strategic planning.

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Authors: Jieun Kim, Haejin Cho, Yongtae Park, Yoonjo Kim, Jeonghwan Jeon

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As creative economy is important theme for national policy, many countries have been raising investments through national R&D programs. Since not all of programs are aligned with the ultimate vision and R&D investment is one of the most decisive elements, the strategic fit of national R&D programs should be evaluated for effective resource allocation. This study aims at identifying the factors of strategic fit of national R&D program on the creative economy policy. For this purpose, the balanced scorecard (BSC) model for R&D is utilized to translate national strategic objectives into a set of coherent performance factors.

Keywords: Balanced scorecard, Creative economy, National R&D program, Strategic fit.

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Authors: Eileen M. J. Knight

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This study examines the structural and systematic processes of the Human Resources Division at The University of the West Indies, St. Augustine, Trinidad and Tobago for evidence of incorporation of the University's 2012- 2017 Strategic Plan. In conducting the study the structure of the Human Resources Management Division and its functions were carefully reviewed and measured against the strategic direction of the organisation. Findings indicate disconnect between these areas as there is apparent failure of the Human Resources Division to totally align its mandate with that of the organisation-s strategic direction. This action serves to threaten the viability of the organisation and its efficiency and effectiveness as an institution. The recommendations being put forward are for the realignment of the Human Resources Management Division and for its focus to mirror that of the organisation and the organisation-s goals and objectives. This may entail a restructuring of the Division.

Keywords: Commonwealth Caribbean, Realignment, Region, Strategic Plan.

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Authors: Kaveh Mohammad Cyrus, Shadi Sanagoo

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MABENA model is a complementary model in comparison with traditional models such as HCMS, CMS and etc. New factors, which have effects on preparation of strategic plans and their sequential order in MABENA model is the platform of presented road map in this paper.Study review shows, factors such as emerging new critical success factors for strategic planning, improvement of international strategic models, increasing the maturity of companies and emerging new needs leading to design a new model which can be responsible for new critical factors and solve the limitations of previous strategic management models. Preparation of strategic planning need more factors than introduced in traditional models. The needed factors includes determining future Critical Success Factors and competencies, defining key processes, determining the maturity of the processes, considering all aspects of the external environment etc. Description of aforementioned requirements, the outcomes and their order is developing and presenting the MABENA model-s road map in this paper. This study presents a road map for strategic planning of the Iranian organizations.

Keywords: Competitive Advantage, Process Maturity, StrategicPlanning, Strategic potential

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Authors: Juha Kettunen

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The purpose of this study is to visualize the strategic network of higher education institutions and its strategic directions. The strategy map of the balanced scorecard approach is developed to describe the strategic objectives and their causal relationships in higher education. The empirical part of the study presents the survey results of the desired strategic directions of the network obtained from the teachers and other staff of the member institutions. Research and development projects are the most important form of activity in the network, but education and many other forms also turn out to be important. The results of this study support the argument that a strategic innovation alliance is a suitable and useful way to promote collaboration among European higher education institutions. The results of the study can be used by those who wish to promote such international collaboration among higher education institutions.

Keywords: Balanced scorecard, higher education, social networking, strategic planning.

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Authors: S. Velmurugan, K. B. Akhilesh

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In the past few decades, researchers have witnessed a paradigm shift in Human Resource Management-from individual performance to organizational outcomes with the role of Human resource (HR) managers becoming increasingly significant to the organization. In such a context, it is important to examine HR practices from a strategic perspective on the sustained competitive advantage (SCA) of the organizations. The present study explores how Indian organisations look at their human resources strategically when faced with competitive environment. Also, it explores strategic initiatives being taken to manage human resources within the organisations and how these initiatives promote SCA in terms of enhancing the overall customer-centric delivery of goods and services.

Keywords: Strategic HRM, Strategic HRM Initiatives, Consequences, and Sustained Competitive Advantage.

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Authors: G. Chung, B. Choi

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Very few studies have examined performance implications of strategic alliance announcements in the information technologies industry from a resource-based view. Furthermore, none of these studies have investigated resource congruence and alliance motive as potential sources of abnormal firm performance. This paper extends upon current resource-based literature to discover and explore linkages between these concepts and the practical performance of strategic alliances. This study finds that strategic alliance announcements have provided overall abnormal positive returns, and that marketing alliances with marketing resource incongruence have also contributed to significant firm performance.

Keywords: Event study methodology, resource-based theory, resource relatedness, strategic alliance.

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Authors: Ahmad Ghayoumi, Mehdi Ghayoumi

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Intelligent schools are those which use IT devices and technologies as media software, hardware and networks to improve learning process. On the other hand Strategic management is a field that deals with the major intended and emergent initiatives taken by general managers on behalf of owners, involving utilization of resources, to enhance the performance of firms in their external environments. Here, we present a model Strategic Management System that has been applied on some schools and have made strict improvement.

Keywords: Intelligent school, Strategic management system, Learning station, Teaching station

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Authors: L. N. A. C. Jayawardena, Ales Gregar

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Emotional Intelligence (EI) has been identified as an important factor for corporate success. However, there are few empirical findings on the impact of Strategic EI per se. The ooverall objective of the study was to empirically examine the relationship between the Strategic EI and Transformational Leadership style of managers. Sixty four managers were selected from the banking industry in Czech Republic. Genos EI Inventory, and the Multifactor Leadership Questionnaire – Form 5X-Short were employed as the major research instruments of the study. Descriptive and inferential analyses of survey data were conducted using SPSS software. Variations were observed among the components of Strategic EI between males, and females. Study concludes positive a relationship between Strategic EI of Czech managers and their transformational leadership style. Improving awareness and usage of EI, will contribute to facilitate career success through enhanced levels of transformational leadership of managers.

Keywords: Strategic Emotional Intelligence, Transformational leadership, Socio-demographic factors.

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