Value-Focused Thinking about Strategic Decisions at BC Hydro

Ralph L. Keeney and Timothy L. McDaniels
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Ralph L. Keeney: Systems Management Department, University of Southern California, Los Angeles, California 90089-0021
Timothy L. McDaniels: Westwater Research Center, University of British Columbia, Vancouver, British Columbia, Canada V6T 1W5

Interfaces, 1992, vol. 22, issue 6, 94-109

Abstract: Clarity of the basic values of an organization will become increasingly important as organizations grapple with increasingly complex decisions in the 1990s. To structure and quantify basic values of the British Columbia Hydro and Power Authority, we elicited strategic objectives for the organization from three individuals, then refined and structured them into a hierarchy. We developed attributes and elicited a utility function to illustrate value trade-offs at the strategic level. The results have guided senior planners at BC Hydro in addressing a range of strategic issues. The work indicates that by carefully structuring values, one can provide significant insight for virtually all major decisions facing an organization.

Keywords: industries: electric/electronic; decision analysis: applications (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:inm:orinte:v:22:y:1992:i:6:p:94-109

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