Miika Kajanus, Jyrki Ahola, Mikko Kurttila and Mauno Pesonen
Selecting the best strategy from among a number of identified alternatives is an important part of any strategy process. Often this involves a difficult choice between the values…
Abstract
Selecting the best strategy from among a number of identified alternatives is an important part of any strategy process. Often this involves a difficult choice between the values to set and the trade‐offs to be made. Even swaps is a rational and simple method for making trade‐offs that help the decision maker in considering the value of one objective in terms of another. In this study, the principles of even swaps method are presented and its use is illustrated by applying it to a case of strategy selection in a rural enterprise in Finland. The strategy was chosen from among identified alternatives and it was evaluated with respect to the defined objectives and taking a number of possible future scenarios into account. According to the experiences gained from the case study, the decision makers found the trade‐offs difficult to make. However, they noted that the even swaps method made this difficult task more understandable by indicating the concrete changes in the objectives, allowing them to focus their mental energy on deciding the real value of the alternatives. As the swapping process is transparent, the method also supported communication and learning.
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Innovations are argued to be one of the main sources of sustainable competitive advantage. This study presents a model for creating ideas and formulating them into strategic…
Abstract
Innovations are argued to be one of the main sources of sustainable competitive advantage. This study presents a model for creating ideas and formulating them into strategic alternatives for an enterprise. Value‐focused thinking, including clearly defining and structuring the fundamental values of an enterprise in terms of objectives and using those objectives to guide and integrate decision making, offered the main line for the model. The model clarifies the information about the factors impacting on the situation under study and stimulates thought and communication within the group participating in planning. An application of the model was constructed and applied to a small enterprise involved in agriculture, forestry and subsidiary business.