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Article
Publication date: 29 November 2023

Na Zhang, Haiyan Wang and Zaiwu Gong

Grey target decision-making serves as a pivotal analytical tool for addressing dynamic multi-attribute group decision-making amidst uncertain information. However, the setting of…

Abstract

Purpose

Grey target decision-making serves as a pivotal analytical tool for addressing dynamic multi-attribute group decision-making amidst uncertain information. However, the setting of bull's eye is frequently subjective, and each stage is considered independent of the others. Interference effects between each stage can easily influence one another. To address these challenges effectively, this paper employs quantum probability theory to construct quantum-like Bayesian networks, addressing interference effects in dynamic multi-attribute group decision-making.

Design/methodology/approach

Firstly, the bull's eye matrix of the scheme stage is derived based on the principle of group negotiation and maximum satisfaction deviation. Secondly, a nonlinear programming model for stage weight is constructed by using an improved Orness measure constraint to determine the stage weight. Finally, the quantum-like Bayesian network is constructed to explore the interference effect between stages. In this process, the decision of each stage is regarded as a wave function which occurs synchronously, with mutual interference impacting the aggregate result. Finally, the effectiveness and rationality of the model are verified through a public health emergency.

Findings

The research shows that there are interference effects between each stage. Both the dynamic grey target group decision model and the dynamic multi-attribute group decision model based on quantum-like Bayesian network proposed in this paper are scientific and effective. They enhance the flexibility and stability of actual decision-making and provide significant practical value.

Originality/value

To address issues like stage interference effects, subjective bull's eye settings and the absence of participative behavior in decision-making groups, this paper develops a grey target decision model grounded in group negotiation and maximum satisfaction deviation. Furthermore, by integrating the quantum-like Bayesian network model, this paper offers a novel perspective for addressing information fusion and subjective cognitive biases during decision-making.

Details

Grey Systems: Theory and Application, vol. 14 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 28 February 2024

Misbah Faiz, Naukhez Sarwar, Adeel Tariq and Mumtaz Ali Memon

Research has shown that business model innovation can facilitate most ventures to innovate and remain competitive, yet there has been limited work on how digital leadership…

Abstract

Purpose

Research has shown that business model innovation can facilitate most ventures to innovate and remain competitive, yet there has been limited work on how digital leadership capabilities influence business model innovation. Building on the dynamic capabilities view, we address this gap by linking digital leadership capabilities with business model innovation via managerial decision-making through provision of grants received by new ventures.

Design/methodology/approach

The study is cross-sectional research. Data have been collected utilizing purposive sampling from 313 founding members of new ventures in high-velocity markets, i.e. from Pakistan. SPSS has been used to conduct the moderated mediation analysis.

Findings

Digital leadership capabilities foster the business model innovation of the new ventures because they enable new ventures to capitalize on digital technologies and create new ways of generating value for the customers and themselves. Moreover, managerial decision-making mediates digital leadership capabilities and business model innovation relationship, whereas, grants moderate the indirect positive effect of digital leadership capabilities on business model innovation via managerial decision-making. The study generates initial evidence on the impact of digital leadership capabilities on business model innovation via managerial decision-making for new ventures. We advance knowledge on new ventures’ business model innovation by deep-diving into dynamic capabilities view and emphasizing digital leadership capabilities as a significant driver for business model innovation.

Originality/value

With the help of dynamic capabilities theory, this study analyzes how new ventures make use of digital leadership capabilities to promote business model innovation.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Open Access
Article
Publication date: 13 February 2024

Felipa de Mello-Sampayo

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these…

Abstract

Purpose

This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.

Design/methodology/approach

This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.

Findings

Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.

Practical implications

This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.

Social implications

Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.

Originality/value

The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.

Details

Journal of Economic Studies, vol. 51 no. 9
Type: Research Article
ISSN: 0144-3585

Keywords

Open Access
Article
Publication date: 25 March 2024

Florian Follert and Werner Gleißner

From the buying club’s perspective, the transfer of a player can be interpreted as an investment from which the club expects uncertain future benefits. This paper aims to develop…

Abstract

Purpose

From the buying club’s perspective, the transfer of a player can be interpreted as an investment from which the club expects uncertain future benefits. This paper aims to develop a decision-oriented approach for the valuation of football players that could theoretically help clubs determine the subjective value of investing in a player to assess its potential economic advantage.

Design/methodology/approach

We build on a semi-investment-theoretical risk-value model and elaborate an approach that can be applied in imperfect markets under uncertainty. Furthermore, we illustrate the valuation process with a numerical example based on fictitious data. Due to this explicitly intended decision support, our approach differs fundamentally from a large part of the literature, which is empirically based and attempts to explain observable figures through various influencing factors.

Findings

We propose a semi-investment-theoretical valuation approach that is based on a two-step model, namely, a first valuation at the club level and a final calculation to determine the decision value for an individual player. In contrast to the previous literature, we do not rely on an econometric framework that attempts to explain observable past variables but rather present a general, forward-looking decision model that can support managers in their investment decisions.

Originality/value

This approach is the first to show managers how to make an economically rational investment decision by determining the maximum payable price. Nevertheless, there is no normative requirement for the decision-maker. The club will obviously have to supplement the calculus with nonfinancial objectives. Overall, our paper can constitute a first step toward decision-oriented player valuation and for theoretical comparison with practical investment decisions in football clubs, which obviously take into account other specific sports team decisions.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 22 January 2024

Fei Wang, Ning Nan and Jing Zhao

This study attempts to discover effective strategies for mobile commerce applications (apps) to grow their consumer base by releasing app strategic updates. Drawing on the…

Abstract

Purpose

This study attempts to discover effective strategies for mobile commerce applications (apps) to grow their consumer base by releasing app strategic updates. Drawing on the landscape search model from strategy research, this study conceptualizes mobile app update strategy as three interdependent decisions, i.e. what business elements are changed in an app strategic update, how substantial the changes are and when strategic updates are released relative to the competitive environment.

Design/methodology/approach

Using a field data set of 1,500 strategic updates of seven rival apps in the mobile travel market, this study integrated fuzzy set qualitative comparative analysis (fsQCA) with econometric analysis to analyze how app strategic update decisions interdependently influence app performance.

Findings

This study identified three effective and one ineffective mobile app update strategies from the mixed-method analysis, which verified the complex interdependency of app strategic update decisions. A general takeaway from these strategies is that a complex strategy problem on the mobile platform must be solved with respect to the constraints and capabilities of mobile technology.

Originality/value

This study moves beyond a linear view of the relationship between app update frequency and app performance and provides a holistic view of how and why app strategic update decisions mutually influence one another in their impact on app performance. This work makes contributions by identifying interdependency as a conceptual bridge between strategy and mobile app literature and developing an empirically testable version of the landscape search model.

Details

Industrial Management & Data Systems, vol. 124 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 26 January 2022

Deden Sumirat Hidayat, Winaring Suryo Satuti, Dana Indra Sensuse, Damayanti Elisabeth and Lintang Matahari Hasani

Fish quarantine is a measure to prevent the entry and spread of quarantine fish pests and diseases abroad and from one area to another within Indonesia's territory. Based on these…

254

Abstract

Purpose

Fish quarantine is a measure to prevent the entry and spread of quarantine fish pests and diseases abroad and from one area to another within Indonesia's territory. Based on these backgrounds, this study aims to identify the knowledge, knowledge management (KM) processes and knowledge management system (KMS) priority needs for quarantine fish and other fishery products measures (QMFFP) and then develop a classification model and web-based decision support system (DSS) for QMFFP decisions.

Design/methodology/approach

This research methodology uses combination approaches, namely, contingency factor analysis (CFA), the cross-industry standard process for data mining (CRISP-DM) and knowledge management system development life cycle (KMSDLC). The CFA for KM solution design is performed by identifying KM processes and KMS priorities. The CRISP-DM for decision classification model is done by using a decision tree algorithm. The KMSDLC is used to develop a web-based DSS.

Findings

The highest priority requirements of KM technology for QMFFP are data mining and DSS with predictive features. The main finding of this study is to show that web-based DSS (functions and outputs) can support and accelerate QMFFP decisions by regulations and field practice needs. The DSS was developed using the CTree algorithm model, which has six main attributes and eight rules.

Originality/value

This study proposes a novel comprehensive framework for developing DSS (combination of CFA, CRISP-DM and KMSDLC), a novel classification model resulting from comparing two decision tree algorithms and a novel web-based DSS for QMFFP.

Details

VINE Journal of Information and Knowledge Management Systems, vol. 54 no. 2
Type: Research Article
ISSN: 2059-5891

Keywords

Article
Publication date: 28 February 2022

Ebrahim Vatan, Gholam Ali Raissi Ardali and Arash Shahin

This study aims to investigate the effects of organizational culture factors on the selection of software process development models and develops a conceptual model for selecting…

Abstract

Purpose

This study aims to investigate the effects of organizational culture factors on the selection of software process development models and develops a conceptual model for selecting and adopting process development models with an organizational culture approach, using 12 criteria and their sub-criteria defined in Fey and Denison’s model (12 criteria).

Design/methodology/approach

The research hypotheses were investigated using statistical analysis, and then the criteria and sub-criteria were selected based on Fey and Denison’s model and the experts’ viewpoints. Afterward, the organizational culture of the selected company was measured using the data from 2016 and 2017, based on Fey and Denison’s questionnaire. Due to the correlation between the criteria, using the decision-making trial and evaluation technique, the correlation between sub-criteria were determined, and by analytical network process method and using Super-Decision software, the process development model was preferred to the 12 common models in information systems development.

Findings

Results indicated a significant and positive effect of organizational culture factors (except the core values factor) on the selection of development models. Also, by changing the value of organizational culture, the selected process development model changed either. Sensitivity analysis performed on the sub-criteria implied that by changing and improving some sub-criteria, the organization will be ready and willing to use the agile or risk-based models such as spiral and win-win models. Concerning units where the mentioned indicators were at moderate and low limits, models such as waterfall, V-shaped and incremental worked more appropriately.

Originality/value

While many studies were performed in comparing development models and investigating their strengths and weaknesses, and the impact of organizational culture on the success of information technology projects, literature indicated that the impact of organizational sub-culture prevailing in the selection of development process models has not been investigated. In this study, new factors and indicators were addressed affecting the selection of development models with a focus on organizational culture. Correlation among the factors and indicators was also investigated and, finally, a conceptual model was proposed for proper adoption of the models and methodologies of system development.

Article
Publication date: 31 August 2023

Rita Ambarwati and Dewi Komala Sari

This study aims to determine the effect of Islamic branding, experiential marketing and word of mouth on college decisions and to find marketing strategies through strengthening…

Abstract

Purpose

This study aims to determine the effect of Islamic branding, experiential marketing and word of mouth on college decisions and to find marketing strategies through strengthening Islamic branding based on experiential marketing to increase the number of students at Muhammadiyah-Aisyiyah Higher Education.

Design/methodology/approach

This study used a quantitative method, with data collection carried out using a survey method by giving questionnaires to respondents. The respondents' criteria are active students, at least in semester three, who have studied at Muhammadiyah-Aisyiyah Higher Education in Indonesia, using a sampling technique with accidental sampling. Data analysis used Partial Least Square - Structural Equation Modeling to determine the estimated results or model predictions.

Findings

The results showed a significant direct effect of experiential marketing, Islamic branding and word of mouth on college decisions. There is an indirect effect between experiential marketing and Islamic branding on college decisions through word of mouth, but the word-of-mouth variable could not mediate the relationship between experiential marketing and Islamic branding on college decisions perfectly.

Research limitations/implications

The limitation of the results of the study is that it uses respondents who are and have participated in learning activities on the Muhammadiyah-Aisyiyah Higher Education, where the Muhammadiyah-Aisyiyah Higher Education has added value compared to other private campuses. The added value on the Muhammadiyah-Aisyiyah Higher Education is the overall learning activity based on Kemuhammadiyahan Islam in Indonesia. Islam Kemuhammadiyahan is the identity of the Islamic branding strategy on the Muhammadiyah-Aisyiyah Higher Education, which is only owned by the Muhammadiyah-Aisyiyah Higher Education.

Practical implications

This study recommends marketing strategies through strengthening Islamic branding based on experiential marketing to increase the number of students at Muhammadiyah-Aisyiyah Higher Education.

Originality/value

The novelty of this research is the addition of experiential marketing and Islamic branding variable measurements on word of mouth and college decisions, especially prospective students to study at Islamic Higher Education in Indonesia.

Details

Journal of Islamic Marketing, vol. 15 no. 3
Type: Research Article
ISSN: 1759-0833

Keywords

Article
Publication date: 28 November 2023

Shiqin Zeng, Frederick Chung and Baabak Ashuri

Completing Right-of-Way (ROW) acquisition process on schedule is critical to avoid delays and cost overruns on transportation projects. However, transportation agencies face…

Abstract

Purpose

Completing Right-of-Way (ROW) acquisition process on schedule is critical to avoid delays and cost overruns on transportation projects. However, transportation agencies face challenges in accurately forecasting ROW acquisition timelines in the early stage of projects due to complex nature of acquisition process and limited design information. There is a need of improving accuracy of estimating ROW acquisition duration during the early phase of project development and quantitatively identifying risk factors affecting the duration.

Design/methodology/approach

The quantitative research methodology used to develop the forecasting model includes an ensemble algorithm based on decision tree and adaptive boosting techniques. A dataset of Georgia Department of Transportation projects held from 2010 to 2019 is utilized to demonstrate building the forecasting model. Furthermore, sensitivity analysis is performed to identify critical drivers of ROW acquisition durations.

Findings

The forecasting model developed in this research achieves a high accuracy to predict ROW durations by explaining 74% of the variance in ROW acquisition durations using project features, which is outperforming single regression tree, multiple linear regression and support vector machine. Moreover, number of parcels, average cost estimation per parcel, length of projects, number of condemnations, number of relocations and type of work are found to be influential factors as drivers of ROW acquisition duration.

Originality/value

This research contributes to the state of knowledge in estimating ROW acquisition timeline through (1) developing a novel machine learning model to accurately estimate ROW acquisition timelines, and (2) identifying drivers (i.e. risk factors) of ROW acquisition durations. The findings of this research will provide transportation agencies with insights on how to improve practices in scheduling ROW acquisition process.

Details

Built Environment Project and Asset Management, vol. 14 no. 2
Type: Research Article
ISSN: 2044-124X

Keywords

Open Access
Article
Publication date: 20 July 2023

Sanja Vrbek and Tina Jukić

This paper aims to develop a model that supports public organisations in making informed strategic decisions as to which public services are most suitable to be improved through…

Abstract

Purpose

This paper aims to develop a model that supports public organisations in making informed strategic decisions as to which public services are most suitable to be improved through co-creation. Thus, it first identifies the features that make public services (un)suitable for co-creation and then applies this knowledge to develop a multi-criteria decision support model for the assessment of their co-creation readiness.

Design/methodology/approach

The decision support model is the result of design science research. While its structure is determined by a qualitative multi-criteria decision analysis, its substance builds on a content analysis of Web of Science papers and over a dozen empirical case studies.

Findings

The model is comprised of 13 criteria clustered into two groups: service readiness criteria from the perspective of service users and service readiness criteria from the perspective of a public organisation.

Research limitations/implications

The model attributes rely on a limited number of empirical cases and references from the literature review. The model was tested by only one public organisation on four of its services.

Originality/value

The paper shifts the research focus from organisational properties and capacity, as the key co-creation drivers and barriers, to features of public services as additional factors that affect the prospect of co-creation. Thus, it makes a pioneering step towards the conceptualisation of the idea of “service readiness for co-creation” and the development of a practical instrument that supports co-creation in the public sector.

Details

Transforming Government: People, Process and Policy, vol. 18 no. 1
Type: Research Article
ISSN: 1750-6166

Keywords

1 – 10 of over 7000