Title

Euclid: Strategic alternative assessment matrix

Document Type

Article

Publication Date

4-9-2003

DOI

https://doi.org/10.1002/mcda.318

Abstract

The vast amount of information that must be considered to solve inherently ill-structured and complex strategic problems creates a need for tools to help decision makers (DMs) recognize the complexity of this process and develop a rational model for strategy evaluation. Over the last several decades, a philosophy and a body of intuitive and analytical methods have been developed to assist DMs in the evaluation of strategic alternatives. However, the intuitive methods lack a structured framework for the systematic evaluation of strategic alternatives while the analytical methods are not intended to capture intuitive preferences. Euclid is a simple and yet sophisticated multiobjective value analysis model that attempts to uncover some of the complexities inherent in the evaluation of strategic alternatives. The proposed model uses a series of intuitive and analytical methods including environmental scanning, the analytic hierarchy process (AHP), subjective probabilities, and the theory of displaced ideal, to plot strategic alternatives on a matrix based on their Euclidean distance from the ideal alternative. Euclid is further compared to the quantitative strategic planning matrix (QSPM) in a real world application. The information provided by the users shows that Euclid can significantly enhance decision quality and the DM's confidence. Euclid is not intended to replace the DMs, rather, it provides a systematic approach to support, supplement, and ensure the internal consistency of their judgments through a series of logically sound techniques. Copyright © 2003 John Wiley & Sons, Ltd.

Language

English

Comments

Tavana, M. (2002) ‘Euclid: Strategic Alternative Assessment Matrix,’ Journal of Multi-Criteria Decision Analysis, Vol. 11, No. 2, pp. 75-96.

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