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The purpose of this paper is to explore the system requirements model. According to the concept of loss costs of Type I and Type II errors, it can define the optimal decision line, and reduce overall loss costs. Moreover, it can decrease the probability of Type I and Type II error by the systems thinking, and it can effectively reduce overall loss costs.

The paper proposed a system demand model and constructed a decision‐making system thinking model as well as a decision‐making performance management model using the principle of system demand. Types of decision‐making errors were analyzed to set judgments on the error risk and establish a model of improvement evaluation key factors, in order to reduce decision‐making error risk and enhance decision quality. It also constructed the improved decision‐making to assess the key factors, to reduce the risk of making errors in order to improve the quality of decision‐making.

Optimistic decision‐makers (risk takers) tend to make Type II errors, whereas pessimistic decision makers (conservatives) tend to make Type I errors. Financial depressions are the time for optimistic decision makers (risk takers) and boom periods are the time for pessimistic decision makers (conservatives).

The concept of the loss cost of two decision‐making errors and related cost function models were proposed. Decision makers could make decisions with a more stable model, taking into consideration false alarms and the cost function of errors in order to determine the position of the decision‐making line. It could effectively reduce decision‐making error costs and increase the precision of decision‐making.

This paper proposes a decision support model that can be used to help decide the destination of defective products, for mass production industries. The objective of this model is to reduce the cost of the defect, and consequently reduce the total quality costs.

The decision model was developed based on the theory of quality costs and decision-making models, considering the practical aspects of reality through data collection, observation and experience in Industrial Pole of Manaus (Brazil) industries. A decision model adjusted to reality assists in the construction of the decision process, indicating the facts, data collection and the planning of the actions to choose the best alternative.

The specific contributions of this research are: (1) define a sequential structure of actions, effects and costs associated with defective items; (2) allow a comprehensive approach to failure costs, including various elements of lost opportunity costs; (3) minimize failure costs, and consequently reduce total quality costs, without necessarily investing in prevention and assessment; (4) describe the use and application of the built theory; (5) identify the quality cost elements most representative in existence of defective items; and (6) identify improvement points in the management of possible future defective items.

Much of the work of implementation of quality cost models do not emphasize the analysis of the destination of defective items. Also, there are no studies that use decision models with identification, accounting and evaluation of effects and criteria of quality, productivity and cost to define the destination of manufacture defective items.

In every manufacturing company, irrespective of size, product and other variables, management are constantly involved in quality‐related decisions which have a direct effect on product quality. An analytical method is described for assessing an organisation's approach to quality management. On application, managers are provided with information on the reality of their quality assurance activities. An overview of some of the issues involved in decision making is provided, followed by an outline of the research methodology, and, finally, the “method” is presented with some results arising from its application.

The study of international business has become increasingly important in recent years. So important that the American Assembly of the Collegiate Schools of Business (AACSB) has called for the internationalisation of business curricula. In 1992 and beyond, successful business people will treat the entire world as their domain. No one country can operate in an economic vacuum. Any economic measures taken by one country can affect the global economy. This book is designed to challenge the reader to develop a global perspective of international business. Globalisation is by no means a new concept, but there are many new factors that have contributed to its recently accelerated growth. Among them, the new technologies in communication and transport that have resulted in major expansions of international trade and investment. In the future, the world market will become predominant. There are bound to be big changes in the world economy. For instance the changes in Eastern Europe and the European Community during the 1990s. With a strong knowledge base in international business, future managers will be better prepared for the new world market. This book introduces its readers to the exciting and rewarding field of international management and international corporations. It is written in contemporary, easy‐to‐understand language, avoiding abstract terminology; and is organised into five sections, each of which includes a number of chapters that cover a subject involving activities that cross national boundaries.

To achieve a full understanding of the role of marketing from plan to profit requires a knowledge of the basic building blocks. This textbook introduces the key concepts in the art or science of marketing to practising managers. Understanding your customers and consumers, the 4 Ps (Product, Place, Price and Promotion) provides the basic tools for effective marketing. Deploying your resources and informing your managerial decision making is dealt with in Unit VII introducing marketing intelligence, competition, budgeting and organisational issues. The logical conclusion of this effort is achieving sales and the particular techniques involved are explored in the final section.

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

The purpose of this paper is to provide comprehensive information on preventive maintenance (PM) planning and methods used in the industry in order to achieve an effective maintenance system.

The literature review is organized in a way that provides the general overview of the researches done in the PM. This paper discusses the literatures that had been reviewed on four main topics, which are the holistic view of maintenance policies, PM planning, PM planning concept and PM planning-based in developing optimal planning in executing PM actions.

PM policy is one of the original proactive techniques that has been used since the start of researches on maintenance system. Review of the methods presented in this paper shows that most researches analyse effectiveness using artificial intelligence, simulation, mathematical formulation, matrix formation, critical analysis and multi-criteria method. While in practice, PM activities were either planned based on cost, time or failure. Research trends on planning and methods for PM show that the variation of approaches used over the year from early 1990s until today.

Research about PM is known to be extensively conducted and majority of companies applied the policy in their production line. However, most analysis and method suggested in published literatures were done based on mathematical computation rather than focussing on solution to real problems in the industry. This normally would lead to the problems in understanding by the practitioner. Therefore, this paper presented researches on PM planning and suggested on the methods that are practical, simple and effective for application in the real industry.

The originality of this paper comes from its detail analysis of PM planning in term of its research focus and also direction for application. Extensive reviews on the methods adopted in relation to PM planning based on the planning-based such as cost-based, time-based and failure-based were also provided.

This study aims at introducing a method based on the failure mode, effects and criticality analysis (FMECA) to aid in selecting the most suitable formwork system with the minimum overall cost.

The research includes a review of the literature around formwork selection and analysis of data collected from the building construction industry to understand material failure modes. An FMECA-based model that estimates the total cost of a formwork system is developed by conducting a two-phased semi-structured interview and regression and statistical analyses. The model comprises material, manpower and failure mode costs. A case study of fifteen buildings is analysed using data collected from construction projects in the UAE to validate the model.

Results obtained indicate an average accuracy of 89% in predicting the total formwork cost using the proposed method. Moreover, results show that the costs incurred by failure modes account for 11% of the total cost on average.

The analysis is limited to direct costs and costs associated with risks; other costs and risk factors are excluded. The proposed framework serves as a guide to construction project managers to enhance decision-making by addressing the indirect cost of failure modes.

The research proposes a novel formwork system selection method that improves upon the subjective conventional selection process by incorporating the risks and uncertainties associated with the failure modes of formwork systems into the decision-making process.

How do organizations respond to negative feedback regarding their innovation activities? In this chapter, the authors reconcile contradictory predictions stemming from behavioral learning and from the escalation of commitment (EoC) perspectives regarding persistence under negative performance feedback. The authors core argument suggests that the seemingly contradictory psychological processes indicated by these two perspectives occur simultaneously in decision makers but that the design of organizational roles and reward systems affects their prevalence in decision-making tasks. Specifically, the authors argue that for decision makers responsible for an individual project, responses given to negative performance feedback regarding a project are dominated by self-justification and loss-avoidance mechanisms predicted by the EoC literature, while for decision makers responsible for a portfolio of projects, responses to negative performance regarding a project are dominated by an under-sampling of poorly performing alternatives that behavioral learning theory predicts. In addition to assigning decision-making authority to different organizational roles, organizational designers shape the strength of these mechanisms through the design of reward systems and specifically by setting more or less ambiguous goals, aspiration levels, time horizons of incentives provided, and levels of failure tolerance.

Emphasizing the importance of product cost deviation; the purpose of this paper is to contribute to the new product development (NPD) literature and research on decision making by discussing: How are decisions related to product cost deviations made during a product development project?

An in-depth single case study approach studying the decision-making process of Volvo Cars Cooperation during a car development project is applied.

The paper suggests that factors influencing how decisions related to cost deviations are made during a NPD are not limited to the classic trade-offs among time, cost and scope, but include managers’ complex cause-and-effect analysis under the influence of values, behaviors and norms. Furthermore, the context is not limited to NPD projects; rather the frame for the decisions and its influencers is at least as wide as the corporate context.

The common limitations of a single case study apply.

The study emphasizes the importance of clearly defined targets during a NPD project that need to well communicated, acknowledged and understood by all involved to serve as true business levers. A poor target is likely better than no target. Furthermore, lack of overview or responsibility for the success of the projects, increase the risk for sub-optimization and silo thinking.

The study is pioneering by highlighting the importance of and explaining the implications of decision making related to cost deviations during a NPD project.