Decision-making framework methodology: risk assessment in strategic management

Severine Sperandio and Philippe Girard

International Journal of Management and Decision Making, 2010, vol. 11, issue 1, 4-18

Abstract: In response to the evolutions of its environment and possible internal dysfunctions, a company evolves thanks to strategic decisions then actions on its constitution, on the products manufactured and/or the network to which it belongs (suppliers, subcontractors, customers, etc.). Nevertheless, such actions lead to investing in a project by giving up the idea of an immediate profitability and by accepting a certain risk. Before employing their resources for such investments, companies must also wonder about their financings and take time to reflect about their strategy. This research aims to establish a risk management procedure for strategic projects in order to facilitate decision-makings of senior managers and also improve global performances of companies. Such a procedure, by enabling senior managers to identify and analyse sources of risk, constitutes a management tool allowing to improve strategic decision-making processes.

Keywords: strategic management; risk assessment; new product development; NPD; internal dysfunction; networks; suppliers; subcontractors; customers; profitability; resource investment; finance; project management; senior managers; global performance; strategic decision making; decision aids; decision models. (search for similar items in EconPapers)
Date: 2010
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