INTRODUCTION TO OPPORTUNITY CYBERNETICS AND DECISION-HARMONIZING THEORY IN ENTERPRISES' MULTIPLE VENTURE MANAGEMENT

Jiali Ge () and Hongmin Zhang ()
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Jiali Ge: College of Oil and Gas Engineering, University of Petroleum at Beijing, Changping, Beijing, P.R. China, 102200, China
Hongmin Zhang: College of Oil and Gas Engineering, University of Petroleum at Beijing, Changping, Beijing, P.R. China, 102200, China

International Journal of Information Technology & Decision Making (IJITDM), 2002, vol. 01, issue 01, 43-51

Abstract: This paper introduces a new concept of risk management for modern enterprises so-called opportunity cybernetics and decision-harmonizing theory. This theory was developed based on new challenges of which the enterprises face in the market, such as reverse correlativity, bubbled falsehood, virtual exchange, disorder chaos and unstable variation. The objective of opportunity cybernetics is to achieve the optimal combined profit for the enterprises with multiple venture management through a dynamic modeling control. The successful enterprises should maintain a harmony of chaos in uncertain business events and seek a compromise solution in competitive market. The paper also uses a giant petroleum company to show how to implement the opportunity cybernetics and decision-harmonizing theory in the real world.

Keywords: Risk management; opportunity cybernetics; decision harmony; petroleum industry (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1142/S0219622002000051

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