A neural networks-based approach for strategic planning

A neural networks-based approach for strategic planning

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Article ID: iaor2001461
Country: Netherlands
Volume: 35
Issue: 6
Start Page Number: 357
End Page Number: 364
Publication Date: Mar 1999
Journal: Information and Management
Authors: , , ,
Keywords: planning
Abstract:

We establish a systematic approach that incorporates neural networks in conjunction with portfolio matrices to assist managers in evaluating and forming strategic plans. Based on the principle of dispersing risks, we also provide a linear integer programming model, which helps in allocating the annual budget optimally among proposed strategies. The approach has been successfully implemented for a major food industry leader in Taiwan for its annual strategic planning. Although a particular portfolio matrix model was adopted in our approach, the framework proposed here can be modified to incorporate other strategy-evaluation measures.

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