This article presents a conceptual framework for operationalizing strategic enterprise risk management (ERM) in a general firm. We employ a risk-constrained optimization approach to study the capital allocation decisions under ERM. Given the decision maker's risk appetite, the problem of...

Because of data envelopment analysis (DEA) flexibility in the choice of weights, assessment of decision-making units (DMUs) often involves weighting only a few inputs and outputs and ignoring the remaining variables by assigning them a zero weight. Widespread literature indicates the need to...

This paper develops a general theoretical model for the measurement of strategic performance. The concepts are universal and, by applying the methodology through specific quantitative analytic methods, measurable for all forms of strategic activity. The model distinguishes three aspects of...

This paper covers some of the past accomplishments of DEA and its future prospects. It starts with the engineering-science definitions of efficiency and uses the duality theory of linear programming to show how, in DEA, they can be related to the Pareto-Koopmens definitions used in welfare...

This paper applies specific quantitative methods to demonstrate a general theoretical model for measuring strategic performance. The theoretical concepts are universal and measurable for all types of strategic activity by applying the methodology through alternative quantitative analytical...