...MANAGEMENT, VOL. 49, NO. 1, FEBRUARY 2002 59 R&D Project Selection Using the Analytic Network Process Laura M. Meade and Adrien Presley Abstract—The analytic network process (ANP) is presented as a potentially valuable method to support the selection of projects in a research and development (R&D) environment. This paper first discusses the requirements of the R&D project selection problem, which requires the allocation of resources to a set of competing and often disparate project proposals. Among the factors complicating this task is the need to make the decision within the framework of an enterprise’s strategic objectives and organizational structure while considering and integrating financial and strategic benefits of each project. The paper discusses the use of the ANP, a general form of Saaty’s analytic hierarchy process, as a model to evaluate the value of competing R&D project proposals. A generic ANP model developed by the authors, which includes in its decision levels the actors involved in the decision, the stages of research, categories of metrics, and individual metrics, is presented. The paper concludes with a case study describing the implementation of this model at a small high-tech company, including data based on the actual use of the decision making model. Index Terms—Analytic hierarchy process, analytic network process, multicriteria decision making, project selection, R&D management, R&D projects. I. INTRODUCTION OR MANY firms, especially those...
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...Examining The Elements of Thought & Right Questions Participating in a changing and increasingly complex society requires citizens to process large amounts of information and to operate effectively in ambiguous and unstructured situations. Such work demands thinking and thoughtful people. (Grant, 1988, p. 36) The importance of critical thinking is directly linked to the ability to make sound, informed decisions. The results of those decisions could have a major impact not just in regards to Homeland Security, but also in a person’s daily life. There are two major methodologies of critical thinking, both being unique and similar within their own right. From Dr. Richard Paul and Dr. Linda Elder there are the “Elements of Thought” which are eight. While from M. Neil Browne and Stuart M Keeley comes the “Right Questions” which are ten in number. In the “Elements of Thought” from Dr. Richard Paul and Dr. Linda Paul we find eight seemingly simple questions that should be asked in order to either make the best decision possible and/or to process the available information effectively. What is the author’s purpose? What is the author’s point of view? What assumptions are made? What are the implications? What evidence is provided? What are inferences or conclusions? What are the basic concepts? What are the key questions? (Elder & Paul, 2007) From these questions a reader, listener, or an analyst is given a template with which the critical thinking process should take...
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...ISAHP 2007, Viña Del Mar, Chile, August 3-6, 2007 SUPPLY CHAIN MANAGEMENT IN THE TEXTILE INDUSTRY: A SUPPLIER SELECTION MODEL WITH THE ANALYTICAL HIERARCHY PROCESS Asli Koprulu 1 aslik@ipekyol.com Process Management Director Ipekyol Tekstil ve Tic. San. A.S. Kazım Orbay Cd. 43 Bomonti Sisli 34381 Istanbul Turkey M. Murat Albayrakoglu albayrak@bilgi.edu.tr Coordinator, Business Informatics Program Istanbul Bilgi University Kurtulus Deresi Cd. 47 Dolapdere 34440 Istanbul Turkey Keywords: Supply-chain management (SCM), apparel industry, vendor selection, analytic hierarchy process (AHP) Summary: The aim of this study is to emphasize the importance the vendor selection problem and its relation to the supply chain strategy and goals. First, the current conditions of the textile or apparel industry are analyzed and the key factors for a successful supply chain considering the globalization of the industry are discussed. An analytical hierarchy process (AHP) model that an apparel company can use for the selection of suppliers is presented and a supplier relationship management (SRM) strategy is created based on the results of the model. In addition, strategic priorities for the supplier selection problem are identified and weights are developed to select the right supplier that fits the company’s strategy. Finally, the outcome and the implications of the model for implementation are discussed. 1. Introduction In today’s world of globalization many apparel retailers are building...
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...CONSUMER BUYING BEHAVIOR TOWARDS MOBILE PHONE BUYING AMONG UMP ABSTRACT Consumer buying behavior refers to the buying behavior of the individuals and households who buy goods and services for personal consumption. Factors affecting how customers make decisions are extremely complex. There are many factors that can affect this process as a person works through the purchase decision. According to the black box model of consumer behavior, there are two main stimuli that is related to buyers response towards buying a certain product, in this research; mobile phone. But, which one can be much more influencing than the other in terms of buying decisions. But, which one can be much more influencing than the other in terms of buying decisions. Based on the black box model of consumer behavior, this research’s objectives are to find out the relationship between environmental factors with buyers decision making process. This study also intends to compare the two elements in environmental factors in terms influencing buying decisions to find out which stimuli is the main stimuli that mostly influence consumers mobile phone buying decisions. A survey questionnaire were conducted among 100 randomly chosen UMP students. INTRODUCTION According to Kotler and Armstrong (2001), consumer buying behavior refers to the buying behavior of the individuals and households who buy goods and services for personal consumption. Consumers around the world are different in various factors...
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...BUYING BEHAVIOR TOWARDS MOBILE PHONE BUYING AMONG UMP STUDENTS : MARKETING VERSUS ENVIRONMENTAL STIMULI. ABSTRACT Consumer buying behavior refers to the buying behavior of the individuals and households who buy goods and services for personal consumption. Factors affecting how customers make decisions are extremely complex. There are many factors that can affect this process as a person works through the purchase decision. According to the black box model of consumer behavior, there are two main stimuli that is related to buyers response towards buying a certain product, in this research; mobile phone. But, which one can be much more influencing than the other in terms of buying decisions. But, which one can be much more influencing than the other in terms of buying decisions. Based on the black box model of consumer behavior, this research’s objectives are to find out the relationship between environmental factors with buyers decision making process. This study also intends to compare the two elements in environmental factors in terms influencing buying decisions to find out which stimuli is the main stimuli that mostly influence consumers mobile phone buying decisions. A survey questionnaire were conducted among 100 randomly chosen UMP students. INTRODUCTION According to Kotler and Armstrong (2001), consumer buying behavior refers to the buying behavior of the individuals and households who buy goods and services for personal consumption. Consumers around...
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...Concepts of Decision Making MMPBL/500 Foundations of Problem Based Learning Abstract Key concepts of decision making are a vital part of keeping a company successful and happy employees. There are many areas to take into consideration when applying these decisions. To begin managers must apply their critical thinking skills. As a manager you must choose a decision making concept. Then analyze the concept that is going to be used. Also take a close look at the symptoms and problems. As a manager some of these decisions need to be made immediately and other decisions may allow more time for consideration. Actually, managers sometime ignore the problems all together, leading to poor business (J.Champion and J.James). Decision Stages There are stages in order to make a decision. To begin the manager needs to identify and diagnose the problem. Usually a manager realizes some discrepancy in the current stage of the business and what the desired state of the business and what it needs to be. After the manager makes the decision he must believe the resources and abilities necessary for problem solving exist (Bateman, S. & Snell, S. (2004). Next the decision must be implemented. In some cases the individuals involved in making the decision will implement it, other times they will delegate it to other staff members. Evaluating the Decision Evaluating the decision is to collect information on how the decision is working. Decision making help a manager...
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...II, IMECS 2012, March 14 - 16, 2012, Hong Kong Criteria Weighting and 4-P Planning in Marketing Using Analytic Network Process Elif ALAYBEYOĞLU, Y.Esra ALBAYRAK, Tuncay GÜRBÜZ Abstract— The first of two major functions of the enterprises is producing goods and services, and the second is selling them. The relationship between production and consumption shows that marketing plays an important role in enterprises. Nowadays, the concept of marketing is customeroriented and aims to meet the needs and expectations of customers to increase their satisfaction. And the basics of marketing decisions are the choice of appropriate target markets, their analysis and the creation of strategic marketing plans with the elements of the marketing mix. While creating a marketing strategy, an enterprise must consider many factors. The creation of the strategy begins by deciding what the overall objective of the enterprise should be. The next step is to choose a strategy for the offering that will be most effective in the market. In this study, marketing strategies and marketing decisions in the new-product-development process will be observed, the criteria that are effective in this process will be defined and in order to reflect the real life situations as much as possible, the interactions among criteria will also be taken in consideration and Analytic Network Process (ANP) will be used to handle those interactions. Keywords—Marketing, Strategy Selection, ANP company image in the market...
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...IS 312 Notes 10/2/12 Chapter 6 The Business Benefits of High-Quality Information * Information is everywhere in an organization * Employees must be able to obtain and analyze the many different levels, formats, and granularities of organizational information to make decisions * Changing the structures of information systems databases are much more costly and harder to do than by just building it right the first time * Transaction processing system, records sales * Point of sales example with organizational boundaries * Successfully collecting, compiling, sorting, and analyzing information can provide tremendous insight into how an organization is performing * Information Granularity: Extend of details within the information (fine, detailed, coarse and abstract). 2 Primary type of Information: Transactional and Analytical Transactional information (data) = encompasses all of the information (data) contained within a single business process or unit of work, and its primary purpose is to support the performing of daily operational tasks (for repetitive decision making) * Airline tickets, sales receipts (Model 6-8 chart) Analytical information – encompasses all organizational information (data), and its primary purpose is to support the performing of managerial analysis tasks (such as: whether the organization should build a new manufacturing plant or hire additional sales personnel) * 1/3 of all organizational content is...
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...Decision making is a vital component of small business success. Decisions that are based on a foundation of knowledge and sound reasoning can lead the company into long-term prosperity; conversely, decisions that are made on the basis of flawed logic, emotionalism, or incomplete information can quickly put a small business out of commission (indeed, bad decisions can cripple even big, capital-rich corporations over time). All businesspeople recognize the painful necessity of choice. Furthermore, making these choices must be done in a timely fashion, for as most people recognize, indecision is in essence a choice in and of itself—a choice to take no action. Ultimately, what drives business success is the quality of decisions, and their implementation. Good decisions mean good business. The concept of decision making has a long history; choosing among alternatives has always been a part of life. But sustained research attention to business decision making has developed only in recent years. Contemporary advances in the field include progress in such elements of decision making as the problem context; the processes of problem finding, problem solving, and legitimation; and procedural and technical aids. THE ELEMENTS OF DECISION MAKING THE PROBLEM CONTEXT All decisions are about problems, and problems shape context at three levels. The macrocontext draws attention to global issues (exchange rates, for example), national concerns (the cultural orientations toward decision processes...
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...Application MGT350 - Critical Thinking: Strategies in Decision Making January 9, 2011 Dave Ball Abstract Critical thinking is an important part of everyday life. Many decision models have been created to support critical thinking. Those models are based on three core elements, framing or identifying the problem, gathering and qualifying supporting information to support a decision, and evaluating the decision. By applying these critical thinking techniques the benefits of critical thinking can be realized. This paper will briefly discuss critical thinking, its importance and benefits, and present the reader with a real-world example of critical thinking. Critical Thinking Application Critical thinking is defined by Paul and Elder (2006) as “thinking explicitly aimed at well-founded judgment, utilizing appropriate evaluative standards in an attempt to determine the true worth, merit, or value of something” (Section Introduction, p. xxiv). Critical thinking assists a decision maker to make the right decision based on the information available. Decisions are an everyday part of life. Some believe that an average person could make as many as 40,000 decisions in an average day. Whereas not all of these decisions require critical thinking skills, many decisions that directly affect those around us should apply critical thinking techniques to ensure an informed decision is reached. The University of Phoenix decision model is a set of techniques that can assist individuals...
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...democratic systems have bureaucratic structures that drive the process of decision-making. Foreign policy decisions are executed in a top-down bureaucracy. Modern leaders depend heavily on advisors, department and agency heads, and their bureaucratic staff for information that is vital to foreign policy decisions (p. 556). Bureaucracies are not powerful unless they are backed by Congress and the president’s support. They seek their legitimacy through the acceptance of their recommendations by both the Congress and the president. In part, their effectiveness arises from whether the small group surrounding the president approves of them. Small group dynamics approach is more likely to occur in groups that are cohesive aka exhibit a high level of amiability among each other. Group Cohesiveness is an essential element of small group dynamics. It is stronger when there is a sense of loyalty between everyone. For e.g. in the decision to go to Iraq in the first Gulf War, President Bush picked people who he was very close to, like Cheney, Gates and Scowcroft. They worked together since the Ford administration (about 14 years). The second important element is Group Insulation which means the lack of other parties involved in the process of decision-making. There’s little to no outside sources of information or opinion, the inner group gets to decide without intervention from the outside....
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...for instance a competitive bidding process when a request for bidding has been received by an engineering & contracting company and the decision to bid has been made – the main objective of the proposal manager is to achieve an effective trade-off between the bid competitive value on the side of the client expectations and the project baseline in term of time/ cost / performance constraints on the side of the utilisation of the internal resources. Since project final performance depends primarily on risk analysis and management, a “risk driven approach” to Project Management appears to be necessary, particularly during the project early phase when only scarce information is available and contractual obligations are to be taken. In this context, both “internal” risk (e.g. probability of cost overrun) and “external” risk (e.g. probability of winning) must be taken into account. The paper presents the PRIMA (Project RIsk Management - IST-1999-10193) research project aiming at implementing such a “risk driven approach” to Project Management through the development of a Risk Management Corporate Memory and a Decision Support System allowing for collecting, storing, sharing, using company knowledge both in terms of data records and experts knowledge in order to improve the company capability of project risk analysis and management. 1. Introduction The most critical phase in the project life cycle is the conceptual phase or bidding process, since only scarce information is available...
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...MT&O 2 Organization Theory and Design - Richard L. Daft Organization Theory and Design Richard L. Daft LEESTOETS 1 ....................................................................................................................................... 2 PAGE 3 – 31: ORGANIZATIONS AND ORGANIZATION THEORY ............................................................... 2 PAGE 161 – 173: BUREAUCRACY AND AUTHORITY .............................................................................. 3 PAGE 201 – 220: ORGANIZATION STRUCTURE ...................................................................................... 4 PAGE 441 – 461: POWER AND POLITICS ................................................................................................ 4 LEESTOETS 2 ....................................................................................................................................... 6 PAGE 58 – 69: EFFECTIVENESS ............................................................................................................. 6 PAGE 81 – 106: ENVIRONMENT ............................................................................................................ 7 PAGE 119 – 149: TECHNOLOGY ............................................................................................................ 7 PAGE 201 – 233: STRUCTURE (ZIE LEESTOETS 1).................................................................................. 8 PAGE 249 – 258: STRUCTURE ..................
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...PLANNING Decision-making and planning is said to be having the same characteristics in process however, planning is more integrative of a complex of forces and values harmonizing a breadth of goal and sub goals that is longer in term while decision-making is composite. It incorporates a statement of problem to be treated, a formulation and evaluation of imaginable alternative responses and the selection among them. Planners strive to learn of the practical difficulties awaiting their work progress. They must persuade their clients to accept their plan. Their decision must reflect consistent consideration of benefits and penalties and that it is devoted to what is good. We have two major extreme planning models. First is the rational planning model which seeks to construct an objectively ‘best’ plan and to maximize the role of the planner as expert. Goals are defined and priorities set among the desired consequence of policy. Alternatives are analyzed and the best will be chosen, one most likely and economically attainable. The experts’ crucial role would be in acquiring and assessing technical information and in selecting alternative. While the public's function is to define the goals then the planner advises how to best reach them. Second is the advocacy model which claims that alternative policies inevitably restrict value choices, properly within the realm of politics, rather than the preserve of experts. It believes that the public should be involved throughout the planning...
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...Mazes, Oxford University Press, NY. Abstract In the early sections of “Looking Up and Looking Around” Jackall seeks to explain the reasons behind inadequate decision making processes and ability. The circumstances and environments that cultivate ‘decision-making paralysis’ and a lack of individual decision making ability are explained. Numerous examples and reasons are outlined to communicate a manager’s fear of failure, reluctance to make decisions and inability to make effective decisions when required at all hierarchical levels. If a decision must be made, particularly for an unexpected situation or problem, there is a tendency to look up, at superior’s intents and desires, and look around, at the general consensus of peers, before making any decisions. Jackall also explains managerial short term focus, the corporate culture of self interest and the reasons for each. In particular, he explains the manager’s interest in their progression and preference for short term, self promoting, often political, decisions over rational decisions that benefit the organisation in the long term. These passages show that personal ambition prevents good, rational decisions being made. Jackall also shows how this extends to the blaming of others and changing jobs in order to avoid being accountable for the consequences of previous decisions or strategies that enabled individual corporate progression. In essence, if you ‘outrun your mistakes’ through promotion or transfer, you will succeed no matter...
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