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Decision Making01:20

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Decision-making is a fundamental cognitive process that involves evaluating alternatives and selecting among them. This process can range from simple choices, such as deciding what to wear, to complex decisions, like choosing a major in college or a career path. The complexity of the decision often dictates the approach we use, which can be broadly categorized into two types: automatic and controlled decision-making.
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Flood risk assessment involves careful planning and analysis to ensure the safety of communities near water retention structures. Capacity contours are a vital tool in this process, as they illustrate the potential spread of water at specific levels in a given area. In the context of building a bund across a small valley, these contours play a critical role in evaluating the safety of nearby residential areas.In this example, the bund is intended to store stormwater in the valley. The engineers...
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Determining resources and capabilities in complex context: A decision-making model for banks.

Mochammad Ridwan Ristyawan1,2, Utomo Sarjono Putro1, Manahan Siallagan1

  • 1School of Business and Management, Institut Teknologi Bandung, Bandung, Indonesia.

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This study introduces a novel decision-making model to help banks select resources and capabilities dynamically. It addresses gaps in existing frameworks, enhancing strategic agility for boards of directors.

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Area of Science:

  • Business Strategy
  • Organizational Management
  • Decision Science

Background:

  • The COVID-19 pandemic highlighted the need for dynamic resource and capability selection models.
  • Existing dynamic capabilities frameworks face challenges like context mismatch and strategy misalignment in complex environments.
  • Research gaps identified include context mismatch, inappropriate treatment, and strategy alignment in dynamic capabilities.

Purpose of the Study:

  • To develop a novel decision-making model for determining banking resources and capabilities in complex contexts.
  • To address the limitations of current dynamic capabilities frameworks.
  • To provide a practical tool for boards of directors to navigate environmental changes.

Main Methods:

  • A ten-stage methodology adapted from ISPOR-SMDM guidelines was employed.
  • Qualitative methods, a case study strategy, and an abductive approach were utilized.
  • The study focused on Indonesian State-Owned Banks (SOB).

Main Results:

  • A new decision-making model with seven managerial decisions (probe, sense, structuring, bundling, building, leverage, reconfiguring) was developed.
  • The model integrates fuzzy preference judgments, deep learning analytics (predictive analysis), and success rate predictions.
  • The model is designed for resource and capability determination in complex, dynamic environments.

Conclusions:

  • The proposed model enhances dynamic capabilities within complex domains, contributing to theory.
  • Practically, it offers a structured approach for boards of directors to make strategic resource and capability decisions.
  • This research provides a framework for adaptive strategic planning in volatile market conditions.