A systematic approach for the diagnosis and design of viable enterprises under conditions of business turbulence
The current global business environment is turbulent for many companies and this poses a challenge for their survival and ability to maintain their viability. In spite of the increasing business turbulence, over the years, and the challenges it poses for enterprises, few tools exist to assist managers in conceptualizing, analyzing and developing strategies for addressing this problem. To address this void we have, in this research, developed several tools for modeling and analysis of enterprise viability. Two tools, the Enterprise Viability Model (EVM) and Enterprise Viability Analysis Test-bed (EVAT) have been developed for viability analysis of firms under varying conditions of business turbulence. The EVM is an enterprise viability assessment and enhancement framework that is an extension of three modeling tools: Axiomatic Design, Viable System Model, and Agent Based Modeling. This research establishes the EVM framework as a basis for delineating the relationships between an enterprise's functions, its management and control systems, the turbulence in the environment, and the viability of the enterprise. The applicability of the EVM is illustrated by applying the tool for analysis of a case study involving a company's adaptation to the effects of turbulence in its business environment. The EVAT is a test-bed for conducting experiments to investigate the impact of enterprise's systemic attributes and the nature of its business environment on its viability. The EVAT is developed using agent based modeling and simulation technology. Applicability of the EVAT was evaluated by applying it to the viability analysis of an enterprise under three different management scenarios focused on product innovation, marketing promotion, and evaluation of viability tradeoffs between product innovation strategies and marketing promotion emphasis. The conclusion of our research is that significant, useful, and sometimes non-intuitive, insights into enterprise viability can be gained through the use of modeling and simulation tools.
|Year of publication:||
|Authors:||Oduntan, Olusola O|
Wayne State University
|Type of publication:||Other|
ETD Collection for Wayne State University
Saved in favorites
Similar items by subject
Find similar items by using search terms and synonyms from our Thesaurus for Economics (STW).