Evaluating strategic alternatives: An analytical model

Madjid Tavana, Snehamay Banerjee

Research output: Contribution to journalArticlepeer-review

9 Scopus citations

Abstract

The amount of information involved in strategic decision making and the computational limitations of human decision makers makes strategy selection a difficult task. Various approaches from sheer intuition to computerized decision systems have been proposed for strategy selection. In this paper we present an analytical model which systematically evaluates a series of strategic alternatives by decomposing environmental opportunities and threats into internal, transactional, and contextual segments. Judgments about opportunities and threats are used to obtain two composite weighted scores measuring the risk and return associated with each strategic alternative. The proposed system puts the decision maker and the computer into an interactive partnership by providing a formal and systematic approach to strategy selection while using the computer to manage complex logical processes and vast amounts of information.

Original languageEnglish (US)
Pages (from-to)731-743
Number of pages13
JournalComputers and Operations Research
Volume22
Issue number7
DOIs
StatePublished - Aug 1995
Externally publishedYes

All Science Journal Classification (ASJC) codes

  • Computer Science(all)
  • Modeling and Simulation
  • Management Science and Operations Research

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