International Journal of Management and Decision Making (5 papers in press)
A note on the value of diversity in organisations
by Terry L. Howard, Evan A. Peterson, Gregory W. Ulferts
Abstract: Diversitys value lies in recognising the potential opportunity and capitalising on it by preparing for a new organisational context. Diversity in the workforce provides benefits that resonance with the globalised market including the interaction between new and different points of view that can result in innovation, differentiation, and a competitive advantage. Further, diversity is unavoidable as demographic factors converge to increase the diversity of the labour pool. While a prepared labour pool is critical, this paper investigates what leaders must do to prepare the organisation. Diversity can represent a new competitive advantage as confirmed by research, but so is the potential for adverse impacts. Adverse effects can occur given the potential for diverse teams to fail to mesh, but they can be mitigated or even avoided altogether with planning. The analysis shows that human resource professionals have a critical role in preparing organisations for this new reality by ensuring that the organisation and resulting workforce recognises the value of diversity and knows how to embrace it. Organisations who are not proactive in planning for diversity, or alternately implement diversity strategies without understanding the underlying factors may not reap the advantages.
Keywords: diversity; human resources; diversity value.
CHROMA: a maturity model for the information-driven decision-making process
by Xileidys Parra, Xavier Tort-Martorell, Carmen Ruiz-Viñals, Fernando Álvarez-Gómez
Abstract: A novel maturity model for the information-driven decision-making process (DMP) in organisations is presented. The circumplex hierarchical representation of organisation maturity assessment (CHROMA) model was developed for evaluating organisations regarding their competence and readiness in using information to support decisions. This model groups the most important informed decision factors into five dimensions data availability, data quality, data analysis and insights, information use and decision-making. The model addresses these dimensions in an organised and systematic way, providing a framework for characterising the organisations use of information in DMPs from an uninitiated stage to a completely embedded one. This model was tested in a pilot study on three small/medium-sized enterprises. The assessment involves interviewing key company personnel and evaluating the attributes and dimensions of the CHROMA model. Results indicate that the model is useful for identifying strengths and weaknesses, thereby providing insights for prioritising improvement actions.
Keywords: maturity model; information-driven decision-making process; DPM; assessment tool; management; information systems.
A fuzzy inventory model with time dependent weibull deterioration, quadratic demand and partial backlogging
by Rojalin Patro, Milu Acharya, Mitali Madhusmita Nayak, Srikanta Patnaik
Abstract: The present article establishes both crisp and fuzzy Economic order quantity (EOQ)model with proportionate discount for items with imperfect quality under learning effect. In this proposed model, first we developed the crisp inventory model for the items with imperfect quality where the defective items follow a learning curve. Finally, we discussed on two different cases of fuzzy inventory models. Case -1: The defective rate follows a learning curve and the demand rate assumed to be a triangular fuzzy number. Case -2: Defective rate, fixed ordering cost and holding cost follow the learning curve and the demand rate taken to be a triangular fuzzy number. The aim of this study is to defuzzify the total profit function by using signed distance method. Numerical examples are provided to demonstrate the developed models. Sensitivity analysis is conducted to examine the effect of number of shipments on the order quantity and total profits of the models.
Keywords: Inventory; Deterioration; Shortages; Triangular Fuzzy Number; Signed Distance Method.
IT project management under real options theory and IT governance: a case study on organization relocation
by Rabii El Ghorfi, Mohamed El Aroussi, Mohamed Ouadou, Driss Aboutajdine
Abstract: Information Technology (IT) Governance is meant to define the objectives assigned to the IT IT goals constantly evolve and the monitoring of IT projects is one of the main preoccupations of decision makers Indeed, they often lack reliable tools to model and assess the randomness of the various components of IT governance and subsequently anticipate the best investment decisions This research develops a varied set of techniques for: (1) making the right IT investment decisions in the context of an effective IT governance; and (2) predicting the behavior of IT components in a new location through simulating these decisions in two different environments For this purpose, governance strategies are simulated in the conditions of relocation through the proposed framework This approach stands out by establishing a real-time decisional framework based on ROA (Real Options Analysis) Thus, various scenarios are generated in both current and new (post-relocation) environments via MC simulation
Keywords: Information technology; governance; organization relocation; modeling; information systems; re-al options theory; Monte Carlo.
A Systematic Comparison of Multi-criteria Decision Making Methods for the Improvement of Project Portfolio Management in Complex Organisations
by Darius Danesh, Michael J. Ryan, Alireza Abbasi
Abstract: The successful delivery of organisational objectives is significantly
linked to the effective collection of project portfolios. There are many different
multi-criteria decision making (MCDM) methods available which can be used to calculate examine and select project portfolio management (PPM) decision
options. However, finding the most suitable one is a challenging task which
requires a constructive review and comparison of existing PPM MCDM approaches. This study identifies the strengths and weaknesses of MCDM methods for assisting in PPM decision making. Of more than 100 methods identified in more than 1,400 publications, eight [analytic hierarchy process (AHP), analytic network process (ANP), data envelopment analysis (DEA), dominance-based rough set approach (DRSA), elimination and choice expressing the reality (ELECTRE), preference-ranking organisation method for enrichment evaluations (PROMETHEE), technique for order preference by
similarity to ideal solution (TOPSIS), and VlseKriterijumska Optimizacija I
Kompromisno Resenje (VIKOR)] that best suit PPM are down-selected and compared. Although none is ideally suited for the application to portfolio management, two standard ones (AHP and DEA) are shown to be the most suitable and are recommended for the further investigation and validation.
Keywords: project portfolio management; PPM; multi-criteria decision
making; MCDM; MCDM comparison; decision making.