Evaluation of vendors ranking by EATWOS approach

2014 ◽  
Vol 11 (3) ◽  
pp. 290-311 ◽  
Author(s):  
Ankit Bansal ◽  
Rajesh Kr. Singh ◽  
Siddhant Issar ◽  
Jayson Varkey
Keyword(s):  
Decision Making ◽  
Efficiency Measurement ◽  
Strategic Decision ◽  
Data Envelopment ◽  
National Capital Region ◽  
Content Type ◽  
Analysis Technique ◽  
Improvement Potential ◽  
National Capital ◽  
The Given

Purpose – In order to improve the supply chain performance, organizations need to improve the efficiency of vendors. Although many techniques are used for vendor efficiency measurement, there is a lack of research about defining satisficing level to analyze improvement potential of vendors. The purpose of this paper is to incorporate satisficing level of some outputs to determine efficiency improvement potential of existing vendors. Design/methodology/approach – Method used in this paper is an extension of Data Envelopment Analysis, which has been used frequently for efficiency measurement of Decision Making Units. This method is known as Efficiency Analysis Technique with Output Satisficing (EATWOS), which has been mainly used in the field of economics for efficiency measurement. Findings – A case illustration of a National Capital Region of Delhi, India, based manufacturer and distributor of packaged drinking water is depicted to portray the practical application of EATWOS in vendor efficiency evaluation and their relative ranking. This method has helped in evaluating the improvement potential in performance of given vendors and helping in strategic decision making for the given organization Research limitations/implications – In case of more variables, this method becomes more complex to get the solution. Second, sometimes difference in vendors ranking without and with satisficing concept is very less, as in this case. Therefore, recording and analysis of output data of vendors should be done very carefully. Practical implications – Major implications of this study is that while selecting vendors, organizations should also try to understand improvement potential for given vendors by applying satisficing concept as given in this research. This approach helps in analyzing improvement potentials of suppliers. Originality/value – This paper explores an innovative approach to rank vendors on basis of certain criteria after considering the satisficing concept and improvement potentials of vendors.

Understanding how the contextual variables influence political behaviour in strategic decision-making

2014 ◽  
Vol 7 (3) ◽  
pp. 226-250 ◽  
Author(s):  
Said Elbanna ◽  
Ioannis C. Thanos ◽  
Vassilis M. Papadakis
Keyword(s):  
Decision Making ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Strategic Decisions ◽  
Empirical Examination ◽  
Content Type ◽  
Political Behaviour ◽  
Practitioner Education ◽  
The Impact ◽  
Practical Implications

Purpose – The purpose of this paper is to enhance the knowledge of the antecedents of political behaviour. Whereas political behaviour in strategic decision-making (SDM) has received sustained interest in the literature, empirical examination of its antecedents has been meagre. Design/methodology/approach – The authors conducted a constructive replication to examine the impact of three layers of context, namely, decision, firm and environment, on political behaviour. In Study 1, Greece, we gathered data on 143 strategic decisions, while in Study 2, Egypt, we collected data on 169 strategic decisions. Findings – The evidence suggests that both decision-specific and firm factors act as antecedents to political behaviour, while environmental factors do not. Practical implications – The findings support enhanced practitioner education regarding political behaviour and provide practitioners with a place from which to start by identifying the factors which might influence the occurrence of political behaviour in SDM. Originality/value – The paper fills important gaps in the existing research on the influence of context on political behaviour and delineates interesting areas for further research.

Selection of lean manufacturing systems using the PROMETHEE

2008 ◽  
Vol 3 (1) ◽  
pp. 40-70 ◽  
Author(s):  
G. Anand ◽  
Rambabu Kodali
Keyword(s):  
Decision Making ◽  
Lean Manufacturing ◽  
Manufacturing Systems ◽  
Strategic Decision ◽  
Computer Integrated Manufacturing ◽  
Preference Ranking ◽  
Manufacturing Strategy ◽  
Manufacturing Companies ◽  
Content Type

PurposeIn recent years, many manufacturing companies are attempting to implement lean manufacturing systems (LMS) as an effective manufacturing strategy to survive in a highly competitive market. Such a process of selecting a suitable manufacturing system is highly complex and strategic in nature. The paper aims to how companies make a strategic decision of selecting LMS as part of their manufacturing strategy, and on what basis such strategic decisions are made by the managers.Design/methodology/approachA case study of a small‐ and medium‐sized enterprise is presented, in which the managers are contemplating on implementing either computer integrated manufacturing systems (CIMS) or LMS. To supplement the decision‐making process, a multi‐criteria decision making (MCDM) model, namely, the preference ranking organisation method for enrichment evaluations (PROMETHEE) is used to analyse how it will impact the stakeholders of the organisation, and the benefits gained.FindingsAn extensive analysis of PROMETHEE model revealed that LMS was the best for the given circumstances of the case.Research limitations/implicationsThe same problem can be extended by incorporating the constraints (such as financial, technical, social) of the organisation by utilising an extended version of PROMETHEE called the PROMETHEE V. Since, a single case study approach has been utilised, the findings cannot be generalized for any other industry.Practical limitations/implicationsThe methodology of PROMETHEE and its algorithm has been demonstrated in a detailed way and it is believed that it will be useful for managers to apply such MCDM tools to supplement their decision‐making efforts.Originality/valueAccording to the authors’ knowledge there is no paper in the literature, which discusses the application of PROMETHEE in making a strategic decision of implementing LMS as a part of an organisation's manufacturing strategy.

scholarly journals Construction of capital procurement decision making model to optimize supplier selection using Fuzzy Delphi and AHP-DEMATEL

2018 ◽  
Vol 25 (5) ◽  
pp. 1528-1547 ◽  
Author(s):  
Anil Kumar ◽  
Amit Pal ◽  
Ashwani Vohra ◽  
Sachin Gupta ◽  
Suryakant Manchanda ◽  
...  
Keyword(s):  
Decision Making ◽  
Automobile Industry ◽  
Supplier Selection ◽  
Selection Process ◽  
Strategic Decision ◽  
Extensive Literature ◽  
Content Type ◽  
Fuzzy Delphi ◽  
Selection For ◽  
Decision Making Model

Purpose Supplier selection for capital procurement is a major strategic decision for any automobile company. The decision determines the success of the company and must be taken systematically with the utmost transparency. The purpose of this paper is to construct capital procurement decision-making model to optimize supplier selection in the Indian automobile industry. Design/methodology/approach To achieve the stated objective, a combined approach of fuzzy theory and AHP-DEMATEL is applied. Evaluation parameters are identified through an extensive literature review and criteria validation has been introduced through a Fuzzy Delphi method by using fuzzy linguistic scales to handle the vagueness of information. AHP is employed to find the priority weight of criteria, although an inter-relationship map among criteria is not possible through AHP alone since it considers all criteria as independent. To overcome this, DEMATEL is used to establish cause-effect relationships among criteria. Findings The results show that the total cost of ownership (TOC) is the first weighted criterion in supplier selection for capital procurement, followed by manufacturing flexibility and maintainability, then conformity with requirement. The cause-effect model shows that supplier profile, TOC, service support and conformity with requirement are in the cause group and are considered to be the most critical factors in selecting the supplier. Originality/value The study’s outcome can help the automobile industry to optimize their selection process in selecting their suppliers for capital procurement; the proposed model can provide guidelines and direction in this regard.

scholarly journals Women on corporate boards and allocation of capital raised through IPOs

2019 ◽  
Vol 57 (3) ◽  
pp. 547-568 ◽  
Author(s):  
Bazeet Olayemi Badru ◽  
Nurwati A. Ahmad-Zaluki ◽  
Wan Nordin Wan-Hussin
Keyword(s):  
Decision Making ◽  
Governance Structure ◽  
Capital Allocation ◽  
Strategic Decision ◽  
Corporate Boards ◽  
Content Type ◽  
Investment Opportunities ◽  
Women On Corporate Boards ◽  
The Impact ◽  
A Company

Purpose The purpose of this paper is to examine whether the differences in men and women, such as risk aversion in decision making, can influence the amount of capital that the board of directors can allocate for investment opportunities. Design/methodology/approach This study sampled 212 IPOs over the period of 2005–2015 and employed the OLS and the quantile regression techniques to examine the impact of female directors on capital allocation. Findings The results show that women on corporate boards have a positive influence on the amount of capital an IPO company can allocate for investment opportunities. These findings suggest that the investment strategies of women in an emerging financial market, like Malaysia, may differ from women in other financial markets. Practical implications The presence of women on corporate boards plays an important role in board involvement in a company’s strategic decision at the time of the IPO. Therefore, regulators and IPO issuers should pay close attention to the corporate governance structure of a company at the time of an IPO. In addition, investors and other stakeholders of a company may consider women on corporate boards as an important factor in financing and investment decisions. Originality/value Despite several studies that have examined the influence of women on corporate boards on corporate outcomes, globally, the presence of women on corporate boards and their influence on corporate decision-making related to allocation of capital to investment opportunities, have not been fully explored in the IPO literature.

Towards a BIM-based approach for improving maintenance performance in IBS building projects

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zul-Atfi Bin Ismail
Keyword(s):  
Decision Making ◽  
Good Practice ◽  
Maintenance Management ◽  
Strategic Decision ◽  
Building Information Modelling ◽  
Content Type ◽  
Information Modelling ◽  
Building Information ◽  
Conventional Methods

PurposeThe contemporary practice of conventional maintenance for industrialised building system (IBS) constructions suffers from poor service delivery and defect repetition. A key problem impeding the widespread adoption of emerging technologies is the lack of competent contractors to support the effectiveness of the technology implemented in conventional methods and to ensure returns on investment. The shortcomings of conventional methods are assessed from the perspective of IBS buildings. This paper aims to identify the different system approach using Building Information Modelling (BIM) technology that is equipped with decision making processes.Design/methodology/approachThis paper describes the establishment of key problem areas, the elements involved in implementing good practice and the requirements for integrating maintenance management processes and information databases in the maintenance management system.FindingsConventional methods have little emphasis on defect diagnosis tools. They also enhance inadequate strategic decision-making in the analysis of information when attempting to improve the maintenance project outcomes for IBS construction. The characteristics identified in a case study of IBS buildings are presented and analysed.Originality/valueThe conclusions and recommendations drawn from the analysis of the IBS case study are discussed, synthesised and deliberated upon. The approach presented in this paper integrates various aspects of building information modelling technology to facilitate improved execution of IBS maintenance activities.

Implementing asset data management in power companies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Elizaveta Gavrikova ◽  
Irina Volkova ◽  
Yegor Burda
Keyword(s):  
Decision Making ◽  
Data Management ◽  
Electric Power ◽  
Organizational Context ◽  
Corporate Strategy ◽  
Strategic Decision ◽  
Content Type ◽  
Operational Level ◽  
Asset Data

PurposeThe purpose of this paper is to design a framework for asset data management in power companies. The authors consider asset data management from a strategic perspective, linking operational-level data with corporate strategy and taking into account the organizational context and stakeholder expectations.Design/methodology/approachThe authors conducted a multiple case study based on a literature review and three series of in-depth interviews with experts from three Russian electric power companies.FindingsThe main challenge in asset data management for electric power companies is the increasing amount and complexity of asset data, which is frequently incomplete or inaccurately collected, hard to translate to managerial language, focused primarily on the operational level. Such fragmented approach negatively affects strategic decision-making. The proposed framework introduces a holistic approach, provides context and accountability for decision-making and attributes data flows, roles and responsibilities to different management levels.Research limitations/implicationsThe limitations of our study lie in the exploratory nature of case study research and limited generalization of the observed cases. However, the authors used multiple sources of evidence to ensure validity and generalization of the results. This article is a first step toward further understanding of the issues of transformation in power companies and other asset intensive businesses.Originality/valueThe novelty of the framework lies in the scope, focus and detailed treatment of asset data management in electric power companies.

Impact assessment of contemporary international and national accounting standards adoption: evidence from Greek hotels

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nikolaos Iason Koufodontis ◽  
Stella Zounta ◽  
Maria Papagiouvanni
Keyword(s):  
Decision Making ◽  
Accounting Standards ◽  
Strategic Decision ◽  
International Accounting ◽  
Property Management ◽  
International Accounting Standards ◽  
Legal Form ◽  
Macroeconomic Factors ◽  
Content Type ◽  
Mandatory Adoption

PurposeThis paper aims to offer new insights on how the adoption of contemporary international accounting standards can affect the financial performance of a hotel. It provides significant input for strategic decision making in property management, especially in countries where hotels properties are given a choice between different accounting standards.Design/methodology/approachData was collected from 3-, 4- and 5- star hotels in Greece, through primary research with questionnaires, filled by hotel financial managers. Greece was selected because hotels can choose between national and international accounting standards; therefore, the research could focus on actual factors beyond mandatory adoption.FindingsMicroeconomic factors such as category or legal form of the hotel in combination with other factors can affect the perceived benefits of the selected accounting standards. Macroeconomic factors such as the overall tourism development of the destination also affect the perceived impact.Research limitations/implicationsThe research was targeted at hotel executives with knowledge and participation in decision making regarding accounting standards. This requirement limited the sample since all hotels do not have a financial manager position.Practical implicationsThe new knowledge can be utilized in property management as an element of hospitality strategic planning for improved assessment of anticipated effects resulting from the adoption of specific accounting standards.Originality/valueThe research fills a gap in existing knowledge by introducing elements not previously examined; additionally, it expands previous knowledge from other sectors to hospitality and tourism, while verifying or rejecting past findings.

Mitchell’s Brewery: entrepreneurship challenges in the South African craft beer industry

2018 ◽  
Vol 8 (4) ◽  
pp. 1-35
Author(s):  
Geoff Bick ◽  
Fezile Sidubi
Keyword(s):  
Decision Making ◽  
South African ◽  
Work Experience ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
The South ◽  
School Students ◽  
Content Type ◽  
Craft Beer ◽  
Beer Industry

Learning outcomes They are as follows: to identify strategic growth opportunities for SMEs in the South African craft beer industry; to understand the complexities associated with operating a craft beer SME in the South African alcohol sector and analyse the SME’s strategic decision-making process that happens as a result; to understand the challenges and identify opportunities for entrepreneurship and growth in an emerging economy and niche segment; to develop a differentiation strategy for a small player in a competitive market; and to impart industry-specific knowledge and insight on the craft brewing industry. Case overview/synopsis The case is centred on the challenges that Hein Swart, managing director of Mitchell’s Brewery, is facing in sustaining business operations amid heavy regulations and increasing competition from existing craft breweries. In addition, there is the entry of a different type of competitor into the South African market that did not exist previously. The case narrative broadly presents several industry themes that interact with each other and create the existing complexities. Complexity academic level This case is targeted at postgraduate business school students with some work experience who want to build their critical thinking, business management and strategic decision-making skills such as Masters of Business Administration (MBA) and Executive MBA academic programmes, and also delegates on Executive Education programmes. The case is expected to be used as a case study for courses in entrepreneurship and strategic management; however, it can also be applied in strategic marketing courses. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 3: Entrepreneurship

scholarly journals M&As get another assist: when CEOs add intuition to the decision mix

2019 ◽  
Vol 41 (3) ◽  
pp. 57-65 ◽  
Author(s):  
Hannu Kuusela ◽  
Siiri Koivumäki ◽  
Mika Yrjölä
Keyword(s):  
Decision Making ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Strategic Decisions ◽  
Group Interactions ◽  
Content Type ◽  
Individual Level ◽  
Top Executives ◽  
Positive Effects

Purpose The purpose of this paper is to analyze the use of intuition in successful merger and acquisition (M&A) decisions. M&As are strategic decisions that can create growth, open up new markets and strengthen the company’s position and competence portfolio. Strategic decisions involve, by their very nature, considerable investments and have company-wide and long-lasting implications. At the same time, the decision-makers have access to large amounts of data from various sources, but these data are often uncertain and inaccurate and entail numerous assumptions. Therefore, M&A decisions are only rational to a degree, and emotional elements, such as intuition, likely play a significant role. Design/methodology/approach Acknowledging how critically important, but also how difficult, M&As are, the authors analyzed nine instances (cases) of successful acquisitions, in which the executives believed that the role of intuition was critical. Findings The findings show that intuition in strategic decision-making emerges on three levels: individual, collective and environmental. Practical implications This paper encourages top executives to proactively acknowledge and take advantage of intuition in their strategic decision-making. It proposes a framework to help with these endeavors. Originality/value This paper contributes by highlighting that intuition is not just a factor on an individual level; it can also surface from group interactions as well as the environment. Surprisingly, all the executives interviewed spoke of the positive effects that intuition can have on acquisition decisions. This is in contrast to the dominant view that considers intuition as nonrational and even as a form of bias.

Impact of family involvement on strategy and CEO compensation

2019 ◽  
Vol 10 (3) ◽  
pp. 189-212
Author(s):  
Manika Kohli ◽  
Suveera Gill
Keyword(s):  
Decision Making ◽  
Panel Data ◽  
Family Involvement ◽  
Ceo Compensation ◽  
Family Firms ◽  
Corporate Strategy ◽  
Dynamic Panel Data ◽  
Growth Strategy ◽  
Strategic Decision ◽  
Content Type

Purpose As widely known and well established, strategic decision-making at family firms is an interface between business interests and family considerations. The purpose of this paper is to understand the underlying basis of decision-making in setting corporate strategy and designing chief executive officer (CEO) compensation at founder- vis-à-vis descendant-led family firms in the Indian pharmaceutical sector. Design/methodology/approach A sample of 106 BSE-listed pharmaceutical companies have been studied over the period 2012–2017 resulting in a total of 636 firm-year observations. Impact of family involvement in business (FIB) on corporate strategy and CEO compensation has been analysed by constructing multivariate panel data regression models. To deal with the problem of endogeneity, Arellano-Bond (1991) dynamic panel data estimation procedure has moreover been conducted. Findings Supporting stewardship theory, founder-owned and governed firms have been found to favour “growth” strategy and distribute “conservative” executive pay, thereby exerting a positive moderating impact on the strategy-compensation linkage. On the contrary, descendants/second-generation entrepreneurs have put forth a “conservative” stance for growth and innovation, and have rather been observed to favour a “liberal” compensation policy, thereby showcasing the application of behavioural agency theory. Originality/value The research is a novel attempt to unravel the interaction between corporate strategy and CEO compensation in a family firm backdrop carried out in the context of an emerging economy. The study, moreover, adopted an all-encompassing definition of FIB (ownership, management and governance).

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