Rethinking Decision-Making Strategies and Tools: Emerging Research and Opportunities

Rethinking Decision-Making Strategies and Tools: Emerging Research and Opportunities explores the need to re-arrange and re-evaluate established decision-making tools, proposing a new matrix with eight quadrants of the dynamic SWOT analysis. It considers three dimensions: Actual – Potential, Positive – Negative, and Internal – External, and offers applications in relevant case studies from various industries and firms.

Format: Hardback
Length: 128 pages
Publication date: 16 February 2024
Publisher: Emerald Publishing Limited

Rethinking Decision-Making Strategies and Tools: Emerging Research and Opportunities delves into the examination of established decision-making tools, highlighting the need for their re-arrangement and re-evaluation. The authors propose a novel matrix, consisting of eight quadrants, incorporating the dynamic SWOT analysis. This updated tool also takes into account three dimensions: Actual – Potential, Positive – Negative, and Internal – External. Numerous relevant case studies are provided, along with examples from diverse industries and firms, to illustrate the multifaceted nature of decision-making tools and theories. This text offers readers a valuable platform to compare, contrast, and understand how decision-making strategies and tools are delivered differently across regions of the world. It incorporates an intriguing blend of theory, primary research findings, and practical insights, making it appealing to students, academics, and practitioners alike.

Introduction:
In today's dynamic and rapidly changing business environment, effective decision-making is crucial for organizations to succeed. Traditional decision-making tools and theories have been widely used, but there is a growing recognition of the need to rethink and enhance these approaches. This paper aims to explore emerging research and opportunities in the field of decision-making strategies and tools, with a particular focus on their re-arrangement and re-evaluation.

Existing Decision-Making Tools and Theories:
Established decision-making tools and theories have played a significant role in shaping organizational decision-making processes. These include the SWOT analysis, which assesses an organization's Strengths, Weaknesses, Opportunities, and Threats. Other popular tools include the PEST analysis, which examines Political, Economic, Social, and Technological factors, and the Decision Tree analysis, which helps identify and evaluate alternative solutions.

Re-arrangement and Re-evaluation of Decision-Making Tools:
While these tools and theories have been effective in many cases, there is a growing recognition of the necessity to re-arrange and re-evaluate them. The changing business landscape, technological advancements, and evolving customer needs require a more dynamic and comprehensive approach to decision-making. The authors propose a new matrix, consisting of eight quadrants, incorporating the dynamic SWOT analysis.

New Matrix with Eight Quadrants:
The new matrix includes four quadrants for Strengths, Weaknesses, Opportunities, and Threats, as well as four quadrants for Actual – Potential, Positive – Negative, and Internal – External dimensions. This expanded framework aims to provide a more holistic and comprehensive view of decision-making, taking into account the interdependencies between different factors.

Three Dimensions:
The new tool also considers three dimensions: (1) Actual – Potential, (2) Positive – Negative, and (3) Internal – External. These dimensions help organizations assess the real-world impact of their decisions, as well as the potential benefits and risks associated with different options.

Applications of the Revised Matrix:
Applications of the revised matrix are offered in a range of relevant case studies, along with examples from a wide range of industries and firms. These case studies illustrate the many dimensions of decision-making tools and theories, and how they can be applied in different contexts.

Comparison and Contrast:
Readers will be able to compare, contrast, and comprehend whether the 'decision-making strategies and tools from different lenses are delivered similarly, or otherwise, in different parts of the world. The text includes an interesting mix of theory, primary research findings, and practice that will appeal to students, academics, and practitioners alike.

Conclusion:
In conclusion, the rethinking of decision-making strategies and tools is an ongoing process that requires organizations to adapt to the changing business landscape. The proposed new matrix with eight quadrants and three dimensions offers a promising approach to decision-making, providing a more comprehensive and holistic view of the decision-making process. By incorporating a range of relevant case studies and examples, this text provides readers with a valuable platform to compare, contrast, and understand how decision-making strategies and tools are delivered differently across regions of the world.

Weight: 314g
Dimension: 160 x 238 x 14 (mm)
ISBN-13: 9781837972050