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Data Recording System for Anesthesiology, Patient Monitor and Surgical Devices in Operating Rooms
(2019)
Corporate debt volumes in emerging market economies have been increasing greatly post 2007-2008 financial crisis. Debt levels have increased across the globe however, the pace is faster in emerging markets than in advance markets. Major countries in emerging economies such as Brazil, Russian Federation, India and China (BRIC) have a large and concentrated share in growing corporate debts. Although, both company specific factors and macro level factors have impacted the corporate borrowings leading to depressed corporate earnings, financial strains and capital outflows in emerging markets the impact of company specific factors is highly pertinent and demands research. The rise in debt levels has affected the return on earnings (ROEs) of the corporate companies which in turn is adversely impacting emerging economy and its financial stability. This paper has empirically tested for the explaining effects of rising corporate debts and changing return on assets (ROAs) on ROEs of emerging market corporate by establishing a multiple regression model. A sample of 100 corporate companies from BRIC countries has been taken to test the model. The test results confirm the importance of corporate debts in predicting ROEs and possible financial strains. Finally, the regression model has been used to estimate ROEs of these corporate companies for the next 5 years with specific recommendation and policy implication to avoid financial crisis.
Globalisation has significantly shaped the way international organisations operate nowadays. The increased connectivity is continuously raising the number of global virtual teams, connecting employees across borders for project work. With cultural diversity, geographic dispersion and virtuality increasing the complexity of collaboration, the leadership of virtual teams constitutes a critical challenge. Consequently, the topic of leadership and its behavioural implications is progressively gaining businesses’ attention. However, due to limited research in this field, this thesis aims at identifying whether and how leadership behaviour affects virtual team collaboration, specifically between German leaders and Chinese team members.
After outlining behavioural characteristics of virtual leaders as presented by literature, the empirical research focuses on expert interviews with German virtual leaders. Here, a specific focus is put on their perceptions of their Chinese teams, the emerging challenges, their behaviours and the creation of a new virtual culture.
The results show the importance of leadership behaviour in this setting. They emphasise the effect it has on the virtual team members and provide recommendations with regards to behavioural adaptation to master this challenge.
Laser optimiert Zerspanung
(2019)
The growth of Islamic banking is evident from its presence in over 60 countries and the establishment of Islamic branches by major conventional banks. Despite its small share in global financial assets, there is extensive literature examining the performance of Islamic banks. Some researchers claim that Islamic finance is imitating conventional banks and it has therefore become necessary to understand the business model of Islamic banks. This bachelor thesis reviews theoretical and empirical literature to identify differences between Islamic and conventional banks. The objective is to examine the stability of Islamic banking by comparing performance indicators on capitalization, stability, profitability and efficiency. The results indicate that competitive pressure leads Islamic banks to deviate from their principles which promote profit and loss sharing (PLS). The preference for PLS lies within the fact that profit is earned on actual performance. Deposits in Islamic banking may also be structured according to PLS and it is observed that Islamic banks distribute profits even if they earned a loss to prevent withdrawal. Although Islamic banks tend to be better capitalized and more profitable than conventional banks, the data on their stability and liquidity are inconclusive. Data gathered on efficiency indicate that Islamic banks are more profit efficient while conventional banks are more cost efficient. Islamic banks seem to spend more on remuneration and training which positively impacts managerial competence. The limitation of this paper is that the reviewed empirical studies are based on different sample sets. In addition, Islamic banks might not pursue the same practice everywhere as Shariah law is based on interpretation. This leads to differences in what is considered Shariah-compliant and therefore reduces the comparison’s reliability.
Kultur, Kapital, Kooperation
(2019)
Gemeinsam Neues erarbeiten
(2019)
A Fog-Cloud Computing Infrastructure for Condition Monitoring and Distributing Industry 4.0 Services
(2019)
Die Fachkräftenachfrage auf dem deutschen Arbeitsmarkt hat sich in den vergangenen Jahren verstärkt. Der Wandel zur Wissensgesellschaft sowie ein demografisch bedingter Rückgang der erwerbstätigen Bevölkerung haben bei Unternehmen den War for Talents entfacht. Die Rekrutierung der einheimischen Bevölkerung allein reicht nicht mehr aus, um den Bedarf an Fachkräften zu stillen und treibt Unternehmen deshalb vermehrt zur Personalrekrutierung aus dem Ausland. Die E-Recruiting-Plattform Campusjäger GmbH hat den Trend der internationalen Rekrutierung erkannt. Für sie wird im Rahmen dieser Arbeit der Frage nachgegangen, wie eine Rekrutierung ausländischer Fachkräfte den Personalbedarf der Unternehmenskunden verringern und somit das Umsatzpotenzial
der Campusjäger GmbH steigern kann. Dafür ist eine Internationalisierung der Campusjäger GmbH geplant. Im ersten Schritt wird die Fachkräftesituation auf dem deutschen Arbeitsmarkt analysiert. Da der Fachkräftemangel bisher kein flächendeckendes Problem
darstellt, wird der Bedarf an Fachkraftpersonal abhängig von Berufen, Regionen und Unternehmensgrößen ermittelt. Anhand von Sekundärquellen werden anschließend internationale Ländermärkte mittels einer dreistufigen Filtermethode untersucht, um dadurch Märkte mit Potenzial für die Rekrutierung detaillierter prüfen zu können. Eine Online-Umfrage an Studenten aus den attraktivsten Märkten Frankreich, Polen und Italien soll das Interesse und die Nachfrage dieser Studenten für eine Erwerbstätigkeit in Deutschland ermitteln. Die Arbeit schließt mit Handlungsempfehlungen für den internationalen Markteintritt der Campusjäger GmbH ab.
This paper explores the different techniques used by search engine optimizers to increase a website ́s ranking, thus visibility. The author focuses on modern methods from the areas of On-Page and Off-Page SEO. Findings, gathered through a literature review, conclude that SEO has become a more complex process, as search engines algorithm have advanced; transforming from a pure technical optimization to a more user-oriented optimization. Furthermore, the paper identifies several areas that a webmaster can use to collect data to monitor a website ́s performance. In addition, insights into what the data can have for a meaning, are given. The paper finales with a brief overview of various ways to monetize a website.
The present bachelor dissertation deals with the increasing popularity and attractiveness of fitness studios in the German market, the resulting competition and the possibility to differentiate oneself by adapting various marketing measures. The classical marketing mix and its existing instruments are explained in detail, and the possibility to use them in the area of sport and explicit fitness is reviewed. The effectiveness and application of the instruments are then explained using the example of McFIT, which has become the current market leader through their successful use. A competition analysis comparing McFIT and two competitors in the German market helps to identify existing strengths and weaknesses and compare the companies.
Nachhaltigkeit ist für die Gesellschaften unseres Planeten von grundlegender Bedeutung, ebenso wie Software Systeme immer mehr Teil der heutigen Gesellschaften werden. Daher gewinnt Nachhaltigkeit auch immer mehr an Relevanz im Software Engineering und es wurden erste Ansätze entwickelt, um Nachhaltigkeit bei dem Software System Design zu berücksichtigen. Dennoch bleibt es schwer die erst später eintreffenden Auswirkungen von Entscheidungen, die beim System Design getroffen werden, zu erkennen und zu bewerten. Um diese schwierige Aufgabe zu unterstützen, wird in der Keynote die Metapher „Sustainability Debt“ vorgestellt. Die Metapher hilft bei der Identifikation, Dokumentation und Kommunikation von Nachhaltigkeitsfragen im Software Engineering. Sie baut auf der bestehenden Metapher des „Technical Debt“ auf und erweitert diese um vier weitere Dimensionen der Nachhaltigkeit (individuell, sozial, ökologisch, ökonomisch). Neben der Bedeutung der Metapher Sustainability Debt und ihrer Verwendung im Software Engineering wird im Rahmen der Keynote auch darauf eingegangen wie im Software Engineering Entscheidungen getroffen werden. Da Entscheidungen im Rahmen des Sustainability Debts immer bedeuten einen Kompromiss zu schließen zwischen zeitnahen und entfernten Ergebnissen. Bei solchen intertemporalen Entscheidungen werden entfernte Ergebnisse oft als weniger bedeutsam bewertet als zeitnahe, was berücksichtigt werden muss, um eine entsprechende Entscheidungsunterstützung zur Verringerung des Sustainability Debts zu liefern.
Die Digitalisierung bezeichnet den partiellen Ersatz der analogen Leistungserbringung durch eine digitale Lösung. Der Leuchtenhersteller Waldmann hat diesen Wandlungsprozess erkannt und entwickelt hierfür ein neues Geschäftsmodell. Waldmann setzt sich zur Aufgabe den Arbeitsplatz der Zukunft mitzugestalten. Mithilfe der Erfassung von Daten zu Arbeitsplatzbelegung, Luftqualität, Temperatur und Lärmpegel, optimiert Waldmann den Arbeitsplatz ihrer Kunden. Neben einem Sensormodul mit Cloud Anbindung benötigt Waldmann sowohl eine App, als auch eine Benutzeroberfläche. Diese müssen durch ein weiteres Unternehmen erstellt werden. Aufgrund der substanziellen Differenzen in der Leistungserstellung von Produkt und Service, hat Waldmann das neue Unternehmen gegründet. Das Start-Up LIZ erschafft den Software-as-a-Service, welcher aus der Beratung für den Kunden und der Software Lösung besteht. Waldmann übernimmt im selben Prozess die Bereitstellung der Leuchte und die Entwicklung der Sensormodule, zur Aufnahme der Daten am Arbeitsplatz.
Diese Arbeit beschäftigt sich mit der Weiterentwicklung der digitalen Geschäftsmodelle in dem produzierenden Unternehmen Waldmann. Mit den entwickelten Kriterien zu den relevanten Themenbereichen werden die Geschäftsmodelle bewertet und die Potenziale eingestuft. Betrachtungen der zukünftigen Veränderungen des Marktes können die Handlungsempfehlung modifizieren, wodurch eine stetige Beobachtung notwendig wird.
Zusätzlich benötigen die Unternehmen LIZ und Waldmann ein Instrument, um einen konstanten Informationsfluss zu garantieren. Mit der Entwicklung einer Excel Datei wird die Überwachung, Kontrolle und Überprüfung der aktuellen Situation im digitalen Unternehmen durchgeführt. Dieses Instrument gewährleistet ein vollwertiges Produkt-Service-Paket in den zukünftigen Entwicklungen des Geschäftsmodells.
The main focus of this thesis will be to shed light on the existence of cognitive biases. As many researchers, such as Daniel Kahneman and Amos Tversky, have proven in the last five decades, people are not always as rational as they would like to believe. It is important to understand the origin of this irrational behaviour as well as its implications on judgements and decisions. Furthermore, cognitive biases also have a significant influence on consumers’ buying behaviour and decision-making. Through extensive research in secondary as well as primary data it will be shown how much of an influence the cognitive biases anchoring, hyperbolic discounting, loss aversion, endowment effect and decoy effect have on consumer buying behaviour. Additionally, recommendations of how these influences can be used in marketing will be given.
An Analysis of the Recent Developments in the Competitive Situation of the German Airline Industry
(2019)
This study analyzes the competitive situation of the German airline industry for short-and medium-haul flights. Developments within the industry’s market structure and its concentration as well as its attractivity are assessed with the help of a supply-and demand-model as well as an H.H.I. Index calculation and the utilization of the Five Forces Model. This is followed by an evaluation of the operations of the largest carriers in the course of a value chain, to determine how the incumbent operator Lufthansa is affected by the developments within the industry also in regard to competitive positioning. The study is finalized with a SWOT analysis in order to give recommendations as to how Lufthansa can improve its positioning and to see how the industry will develop further in the future. The results indicate a development from a monopoly to a Bertrand oligopoly with intense competition based on price, a trend that is further confirmed by high market concentration indicating an increase in power for the top three airlines but also more fierce rivalry between those carriers. The current market environment is notparticularly attractive and therefore difficult to operate in, especially for Lufthansa as a premium full-service carrier. Lufthansa’s largest difficulties are created by its high operational and personnel cost compared to its low-cost competitors. These expenses can be reduced by strategic investments into digitization and automation along with a fleet modernization in order to benefit from technological trends and meet the demand of the future’s passenger.
With the constant changes in the workplace environment, Human Resources practitioners and organizations are facing work environment shifts never experienced before. The future workplace consists of four generations working simultaneously (Baby Boomers, Generation X, Millennials and Generation Z) and there is a significant increase in the presence of technology, that advances and increases its potential exponentially, causing conceptual changes on what work is and what will be required to optimally operate in such environment. Therefore, the topic of generational differences is in the center of companies and researches’ attention. The main purpose of this paper is to propose knowledge sharing practices that can optimize the inclusion process of the multigenerational workforce. To achieve this purpose, secondary empirical data on generational differences, especially focused on work attitudes, ethics, and values were used. In addition, an in-depth interview with a Human Resources practitioner was conducted. The outcome was the proposal of five knowledge sharing practices, that this paper believes to promote long-term optimal results in multigenerational inclusion.
Smart Condition Monitoring for Industry 4.0 Manufacturing Processes: An Ontology-Based Approach
(2019)
The topic of sexism in advertising has attracted the attention of many scholars for more than four decades now. It is 2019, and the topic remains current and open to debate.
This study explores the relationship between sexism in advertising and society’s views on the roles of men and women on the basis of German dwellers. The investigation has been conducted based on significant theories and current examples and reinforced with empirical data collected from a survey. The results showed that most of the participants surveyed thought that men and women were not being accurately pictured in advertising. In addition, those who have cataloged an ad as sexist disagreed with that content reflecting their opinion about the roles that men and women play within society. Moreover, it was observed that factors like age and occupation have an influence on both the recognition of sexism in advertising and the conception on gender roles.
Due to the recent political and economic events of the so called U.S.-China Trade War, the media broadcasted extensively about both parties placing tariffs on each other. This situation impacts heavily on global value chains and brings an increasing focus on GVCs in terms of an economic upgrading in China. A re-examination of the bilateral trade relationships of China and its value added on export products becomes an interesting topic which deserves to be analyzed. In order to understand how GVCs function in international trade and their impact on public and private sectors, an overview of GVCs is presented. Using one of the successful examples of GVCs, this paper focuses on China’s high-tech industry and aims to evaluate its role in GVCs. By reviewing the transformation and development of high-tech industry in China, this paper provides insights into the change of industrial structure and current challenges during the transitional phase. By analyzing statistical data from Input-Output Table for China’s most advanced sectors – computer, electronic and optical products – this paper found out that China’s role of GVCs has changed overtime. More precisely, there is a trend of moving towards knowledge- and service-intensive sectors.
In the economy, it is always important to respond adequately to the wants of customers in order to satisfy their needs. The fashion industry in particular is strongly affected by the fast pace of life, which is why it is particularly important for companies in this sector to adapt their brands and their products to the current market. In order to work successoriented, the companies have to align themselves with the existing generations, whereby the companies increasingly adapt their products to the generation Y. However, Generation Y will soon be outnumbered by Generation Z. Therefore, the aim of this work is to find a suitable future-oriented marketing strategy for the fashion industry in Germany that successfully targets Generation Z while taking social milieus into consideration for defining the target audience. The first part of the thesis comprises the presentation of different theories to elucidate Generation Z and to present various approaches to milieu research. In order to answer the research question, an empirical research was conducted with Generation Z as the target audience. The study relies on quantitative data collection via primary research. The analysis of the collected data shows the current perception of Generation Z towards fashion companies, their brands and the use of social media channels. As a result, an improved social media strategy combined with appropriate communication between companies and customers is needed to reach Generation Z more widely, create brand loyalty and strengthen the company's position in the market.
Companies operating in the grocery industry are facing low customer loyalty, resulting in strong customer switching behaviour. Additionally, the high similarity of the products predominantly prevents them from deriving benefits from switching barriers. As these issues represent decisive interfering factors for a sustainable and successful business, we intend to examine possible customer retention strategies, which target an increase in customer loyalty. We aim to identify the most appropriate reward strategy in the context of customer loyalty for direct sellers in the grocery industry.
In order to compare and evaluate different possibilities, we conducted an empirical study. Our study focuses on the concrete case of bofrost*, a representative of direct sellers. A total of about 430 bofrost* customer panel members participated in an online survey. With four different survey versions, four customer groups were influenced by different specific customer retention strategies. After being confronted with unfavourable situations, participants had to state how likely they would recommend the company, intend to stay loyal to the company and abstain from competitive offers.
The survey data reveals no significant differences among the four groups. Therewith, based on the study results, we cannot diagnose the best strategy. Nevertheless, based on the theory of cognitive dissonance, we highly recommend bofrost* and other direct sellers to surprise the customer with a present, namely with a T-shirt, discreetly embroidered with the company logo. Furthermore, this research highlights the specific potential of direct sellers - especially in the grocery industry - to reinforce relational switching costs by implementing this suggested customer retention strategy. Thereby, companies can strengthen customer loyalty in the long-term and are able to prevent customers from churning. Moreover, company-specific recommendations of action are provided to bofrost*.
This research creates value to direct sellers, specifically of the grocery industry, by offering a foundation for decisionmaking regarding the design of a sustainably effective customer retention strategy. This takes companies a step closer to the increase of customer loyalty, which is essential in the light of a highly competitive market in which own customers are likely to get attracted from competitors.
Many Researches on values of IT investment have produced mixed results. There has never been a clear definition regarding what is the values of IT investment. Some researchers used productivity as an indicator for value, some other used financial figures to measure the value. However, the result is never consistent. This research investigates the value of Treasury Management System's implementation without limiting the definition of values. The findings show that IT investments are often followed by business process reengineering and have a role as decision support system. Furthermore, IT investments are most likely to improve the information quality produced from the system. Therefore, the evaluation of IT investments needs to consider the qualitative values as well
This research explores the meaning of inclusive behavior of team leaders and members in the context of GVTs. The author focuses on implicit biases underlying inclusive behaviors. By investigating biases, this bachelor thesis provides a collection of exemplary behavior and best practices to overcome them.
As inclusive behavior in GVTs is a field of expertise that has not been explored extensively in relation to implicit biases, this research aims to add to the existing research.
It is based on primary and secondary data. The literature review is used to develop a comprehensive understanding of the challenges of GVTs, the leadership responsibilities, and building trust. It also investigates team effectiveness on the example of Project Aristotle as well as the impact of implicit biases on GVTs. Survey results and in-depth interviews with members of two GVTs uncover realistic examples for the aspects comprised in the literature review.
The results show that literature and reality correspond to a large extent. Furthermore, they reveal the impact of different levels of inclusive behaviors on teams’ ability to work together over a distance. While GVTs face many challenges, they see new opportunities in technology to extend beyond those.
The conclusion centers the importance of various communication channels and informal encounters as key to inclusive behaviors for GVT. Moreover, limitations to the research and a critical assessment for future research are discussed in the conclusion.
Where new players undermine long-established successful organizations, so-called “incumbents”, the power of disruptive innovations becomes visible. As disruptions affect each industry at a point in time, a phase of transition and restructuring threatens car manufacturers to lose shares of their after-sales business.
This bachelor thesis aims to recommend a strategic direction for OEMs (Original Equipment Manufacturers) and to address the following research questions: (1) how can disruptive innovations be identified, and to which extend is the automotive aftermarket susceptible for such? And (2) how can incumbents, in particular OEMs in the aftermarket, manage disruptions to remain successful in the long-term?
For answering these, a literature analysis was carried out, based on the Theory of Disruptive Innovations and high-quality scientific journals. Moreover, the aftermarket was analyzed primarily based on market studies conducted by consulting firms and its disruptive susceptibility was assessed by applying Klenner et al.’s theoretical framework.
Overall, this thesis identified that a balance between stability and disruptiveness is decisive to survive as an incumbent in the long-term. In order to manage disruptive innovations, scoring and analysis models are recommended for identification, whereby a response may include acquisition or cooperation with a disruptor and its technology. Furthermore, the study has revealed that above all adapting the organization, including mindset, culture and processes to the market, supports the creation of disruptions. The findings of the aftermarket analysis and thereof based assessment showed that its susceptibility for disruptive innovations is medium to high, whereby digital platforms have most potential. Furthermore, the market analysis indicated that car manufacturers should use their own advantages and build up an ecosystem while making use of customer and vehicle data.
The use of social media for marketing purposes has already begun replacing virtually all traditional marketing practices in order to cater to a generation of digital natives and young festival goers – a trend that can be especially observed in the music industry today. For all that, not all marketers of music festivals are fully informed about the necessity of a well-developed and multifaceted social media strategy. The goal of this study was to explore the topic of strategic social media in music festival organizations and to derive a model upon which music festival organizations can establish and form their social media strategy more effectively. For this purpose, a literature review was conducted and a combined social media model for assessing social media strategies of music festival organizations was proposed. Six prevailing themes pertaining to social media strategy that were identified constitute the model: 1. Channel selection and evaluation, 2. Audience analysis, 3. Communication style, 4. Social media content, 5. Social monitoring and risk management, and 6. Roles and responsibilities. In the second part of this study, a qualitative research design employing interviews and a case study was used in order to explore strategic social media use in leading festivals in Serbia, Croatia and North Macedonia. The findings of this study reveal about the impact of specific social media platforms, the use of analytics tools for gathering audience insights, the two-way interactive communication with the fans, the efficiency of content resulting from co-creation, the role and importance of PR in social media, as well as the position of social media in the organization and the staffing approach for social media marketing.
The age of connectivity has come with maximum convenience, variety and transparency for shoppers. In light of an increasingly informed consumer with a trained eye for inauthentic marketing, traditional brick-and-mortar retail has recognised the need for differentiation from online competitors. As a consequence, retailers are progressively moving away from transaction-focused retailing to the creation of multi-sensory and emotionally engaging customer experiences through experiential retailing.
As a means of showcasing the brand, experiential retailing is particularly gaining popularity among consumer electronics brands. However, considering the high cost and non-transactional focus of experiential retailing, the question arises whether this approach creates long-term benefits for the brand. Therefore, this bachelor thesis aims to identify whether experiential retailing constitutes a viable branding tool for consumer electronics. Upon establishing a relationship between the concepts of experiential retailing and branding based on literature review, this paper uses qualitative research to investigate the implications of this relationship as perceived by a brand representative and consumers. The analysis of the conducted expert and focus group interviews, identifies experiential retailing as a means of increasing brand awareness, whilst addressing other brand constructs such as brand experience and brand loyalty. With respect to this, this paper substantiates the applicability of experiential retailing as a branding tool for consumer electronics.
Mit einer Wiederbelebung und Wiedereinführung von zahlreichen alten Marken und Produkten in den vergangenen Jahren und Jahrzehnten sind Retro-Produkte ein gewichtiger Teil der Produktpalette in vielen Branchen geworden. Auch in der Videospielbranche haben Retro-Produkte in den letzten Jahren große Aufmerksamkeit erfahren, mit der Einführung von offiziellen Neuauflagen alter beliebter Spielekonsolen mit vorinstallierten Spieleklassikern und dem erneuten legalen Verkauf zahlreicher alter Videospiele bzw. der Veröffentlichung von Remakes dieser Videospiele.
Das Themengebiet des Retro-Gamings wird in der Literatur und Forschung bisher selten aus wirtschaftlicher Perspektive behandelt. Dies gilt besonders in Bezug auf eine gezielte Betrachtung spezifischer geografischer Einzelmärkte. Die vorliegende Arbeit befasst sich daher, bezogen auf den deutschen Absatzmarkt, mit einer Untersuchung des Wettbewerbsumfelds und der strategischen Potenziale von Retro-Gaming-Produkten anhand von drei unterschiedlichen Arten von Retro-Games. Dies geschieht auf Basis der von Michael E. Porter beschriebenen Wettbewerbskräfte, der Unternehmensvorteile durch das Angebot von Retro-Games, der Eignung der unterschiedlichen Arten als Produkt und offener Marktchancen. Diese werden auf Basis von Informationen aus der Fachliteratur, Markdaten und einer Befragung innerhalb der lokalen Zielgruppe für Retro-Gaming Produkte erforscht.
Die Eigenschaften des Wettbewerbsumfelds unterscheiden sich dabei je nach der betrachteten Art von Retro-Games. Es zeigen sich die Vorteile einer Verlängerung des Produktlebenszyklus und der Möglichkeit der Anziehung zusätzlicher Kunden bzw. Retention alter Kunden. Weitere Ergebnisse indizieren eine je nach untersuchter Art von Retro-Games unterschiedliche Eignung als Produkt, und Interesse an einem erhöhten kommerziellen Angebot von Retro-Games innerhalb der Zielgruppe.
As the business environment is constantly changing, development in the leadership area is also needed. What works just fine a few years ago cannot longer be used as effective leadership skills. Therefore this thesis deals with the changing requirements for future leader focusing on coaching as a leadership instrument.
Decisions are made every day, every second of our lives, and are particularly important in a business context. Projects, from their objectives to their ending are a sum of organized and unorganized decisions where facts and data battle with human nature.
In this paper, we will analyse how those decisions are organized in project management, and in general.
After having defined extensively project Management, Decision-Making and their link, a new structure of decision-making will be presented. It is composed of seven steps:
1. Establishing the objectives
2. Identify and define the challenge
3. Analyse the challenge
4. Find solutions and alternatives
5. Evaluate alternatives
6. Choosing the best solution
7. Implementing the decision.
This structure is based on Simon, Drucker, Rolstadås and other researchers’ work. It completes and extends former models in order to go beyond classical schemes.
Everyone, from the CEO to the road sweeper goes through these steps, consciously or unconsciously. Of course, all responsibilities and stakes proportionally adapted.
According to the size of the project, the consequences of the decision, the risks and many other factors, this theoretical structure shifts to fit the needs and becomes less “heavy”, being reduced to its simple titles, becoming usable for simpler tasks.
Even though this structure identifies as instinctive and easy to use, it comes out managers rarely follow formal models or strict rules in projects and decision-making. Detailed models are more suited to strategic decisions and projects, as well as during the preparation of a project.
It is important to note that we are not looking for the way to take a “good” decision, but how to take a “right” decision, as the point is to analyse the process.