Purpose
Capital restrictions normally exist in the creation of a startup, requiring investors to analyze funding alternatives in a highly competitive climate. Although different types of incentives ...to support startups exist, these incentives are only available to those companies that fulfill the requirements of the funding program to which they have applied. Due to social and economic changes introduced by the digital economy, however, existing mechanisms for assessing the potential growth of startups are scarce, outdated or simply incomplete, distorting the results of such evaluations.
Design/methodology/approach
Evaluating business opportunities and how to exploit them are critical activities for an entrepreneur. This study sought to address this issue through the combined use of cognitive mapping and the Decision EXpert (DEX) technique. Assuming a constructivist stance, the study brought together a panel of experienced entrepreneurs and business investors to identify and articulate the criteria to be considered in the evaluation and classification of startups.
Findings
The evaluation system created in this study was tested, and the results were validated by the expert panel on a collective basis, demonstrating that the dual methodology used can increase our understanding of the decision problem at hand and lead to more informed and potentially better evaluations of the potential growth of startups.
Originality/value
The authors know of no prior work reporting the integrated use of cognitive mapping and DEX in this study context.
Purpose
The 2008 global financial crisis showed that the ability to innovate is a key management skill and that approaches to assessing the innovation capability of small- and medium-sized ...enterprises (SMEs) need to be as realistic as possible. This study aims to address the latter practical need through a sociotechnical approach.
Design/methodology/approach
Based on a combined use of cognitive mapping and the Decision EXpert (DEX) technique, and grounded on the insights generated by a panel of SME managers and entrepreneurs in two intensive group meetings, a knowledge-based assessment system for evaluating SMEs’ innovation capability was created, tested and validated.
Findings
The knowledge-based assessment system identified the most innovative SMEs in a sample of companies. The “plus-minus-1” and dominance analyses carried out provided further support for the results.
Research limitations/implications
The proposed system is extremely versatile but process-oriented and idiosyncratic in nature, meaning that extrapolations to other contexts need to be done with due caution.
Practical implications
The panel of SME decision makers agreed that the system improves the current methods used to evaluate SMEs’ innovation capability, contributing to a more informed perspective on management issues. The panel members also noted that the proposed system functions as a learning mechanism, facilitating the development of well-focused suggestions for improvements SMEs can make.
Originality/value
The integrated use of cognitive maps and rule-base decisions contributes to a better understanding of how to assess SMEs’ innovation capability. No prior work reporting the integrated use of these two techniques in this study context has been found.
Due to domestic markets’ current economic conditions, companies increasingly feel that they need to become actively involved in international trade. However, small and medium-sized enterprises (SMEs) ...typically face financial and intellectual constraints during internationalization processes. This means that decision makers must consider a wide range of different variables before deciding to internationalize firms. This study sought to integrate a well-established problem structuring method (i.e., cognitive mapping) and a multiple-criteria decision analysis (MCDA) technique (i.e., Decision EXpert (DEX)) in order to develop a decision model suitable for the identification and assessment of variables influencing SME internationalization capability. Using data collected during face-to-face meetings with a panel of experts (i.e., SME entrepreneurs and chief executive officers (CEOs)), a constructivist method of evaluating SME internationalization capability was created and tested using real data. The results confirm that the dual methodology adopted facilitates the development of a robust evaluation model that can improve decisionmaking processes in the context in question. Specifically, the proposed model identifies product features as the most important factor in SME capability for successful internationalization. In addition, internal factors are significantly more relevant than external factors. The integrated use of cognitive mapping and DEX provides decision makers with a well-informed perspective on SME internationalization capability. We know of no prior research reporting the use of these two methodologies in the SME internationalization context.
Creating decision models for risk assessment of ski injuries is a challenging task. Ski injuries are rare events, but they carry a high cost, that is, can cause working or movement disabilities. ...Usually, ski risk assessment is performed on small‐scale, case‐controlled studies where the effect of a single factor is evaluated. Recently, data mining and machine learning algorithms are being employed for ski risk assessment and injury prediction. However, these models do not generally satisfy the need for interpretation of the decision model, do not provide explanations for the predictions, and in general do not ensure the completeness and consistency of decision rules. To make data mining and machine learning models useful, one needs to implement the aforementioned properties. Decision support systems are expected to have these properties; however, the process of building such decision support systems is still tedious: it has to consider human biases, assumptions, and subjective values, as well as focus on the decision problem being solved. We propose a method for extraction of decision models from data at hand. Our method DIDEX, Data Induced DEcision eXpert, builds models that have desirable properties for inclusion in decision support systems. The proposed method is used to build a decision model for ski injury prediction based on data from Mt. Kopaonik ski resort, Serbia. The results show that DIDEX generates up to a five times simpler model compared to the existing domain expert DEX models while having a 6% better predictive accuracy. Additionally, its predictive accuracy is comparable to similar machine learning algorithms, such as decision tree classifiers, random forest, and logistic regression.
Comparing diversified agri-environmental (AE) collective schemes in their capability to provide AE public goods faces great challenges, mostly because of their diversified nature and relatively new ...way to approach the provision of AE public goods. The state of the art is that there are not yet any common quantitative indicators or data to build a multi-criteria decision-making (MCDM) model to compare it with other practices and to set the strategic plan for the scheme’s improvement. Nevertheless, some qualitative common data of SWOT analyses are available, but the question remains how to simultaneously compare several SWOT analyses in an MCDM model. This study introduces a new way of transforming the qualitative results of SWOT analyses to fit in the MCDM Decision Expert (DEX) model using a special transformation technique SWOT scorecard. The SWOT scorecard evaluates the importance of qualitative results of several SWOT analyses simultaneously in a quantitative way, describing with points how supportive the environment is to each criterion in the DEX model. The SWOT scorecard keeps track of the original results from SWOT analysis and considers the diversity of AE schemes, which results in an appearance of the convergence points. This gives a key for comparing the AE collective schemes in providing AE public goods. Furthermore, it gives a solution for discussing the synergy between aspects that affect AE public goods provision for every AE scheme investigated. The technique is tested via five AE collective schemes in the DEXi program and gives deeper insight into factors that affect each scheme’s performance.
•A farm potential assessment model is proposed to reorient farms for horticulture.•A qualitative multi-criteria approach was adopted, based on expert system theory.•The model offers a wide range of ...analyses to support decision makers.•The model gives the reorientation process of farms transparency.
Structural changes in farming present serious challenges at all spatial levels, from individual farms to the state level. The reorientation of a farm (i.e., changing from livestock production to one of horticulture or crops) represents one of these challenges. Here, a model assessing the potential for reorganizing farms to focus on horticulture is presented. The model accounts for various criteria, including: natural resources, demographic, economic, and social factors. The selection, structure, and importance of criteria and their interrelationships in the model are based on statistical data about farms, data gathered through surveys, and expert opinion groups. The model was developed using the Decision Expert method, implemented by the software DEXi, and was validated using a selection of farms. The added value of the approach is a transparent assessment of a farm’s potential, which provides vital support for deciding about its reorientation.
Digital competences are among the most important competences in modern society, with the education system playing a key role in the acquisition of digital competences by youths. As a rule, digital ...competences of students in general secondary schools in the EU are not optimal and vary considerably. As EU states are autonomous regarding secondary schools, their education organisation varies. Therefore, attempts are being made to implement certain standards of learning outcomes to be attained by secondary school students. Such standards are being prepared, and systematic implementation of the acquisition of digital competences in schools will begin as soon as there are enough trained teachers, for who in 2017 in the framework of DigCompEdu, a European framework of digital competences of educators was developed, with concrete advice for their work in the education process. We have prepared several education scenarios that can be used to enhance digital competences of students in general secondary schools where there are no professional subjects in which the students could acquire digital competences. Since the education scenarios are described by a large number of parameters, we prepared a hierarchical multi-attribute decision model for their evaluation and grading. Experts from the ministry, from professional services and secondary schools, cooperated in the preparation and validation of the model. The model is an aid to decision-makers who are looking for best scenarios, and also allows schools to evaluate their status and recognise what has to be done to attain a certain level of digital competences of students.
Real estate brokers or realtors are expected to possess superior knowledge of their local markets and typically require commissions in return for their services in real estate sales. To justify these ...commissions, it is important to evaluate brokerage service performance. We develop a learning-oriented decision-making process for evaluating real estate brokerage services, which concentrates on understanding the nature, the role, and the interaction of the evaluation aspects of real estate brokerage service quality by integrating cognitive maps and the Decision EXpert approach. Results suggest that this framework permits new rudiments to be considered in the realtor decision-making and sales process, facilitating transparency, and understanding of realtor functions that may lead to recommendations to improve the performance and quality of these functions. Avenues for future research are also presented.
This study is a combination of the web-based system of the Poisson regression model and the Decision expert (DEX) approach to assess the risk of traffic accidents on each segment of Highway 304 in ...the province of Nakhon Ratchasima, Thailand. The variables of the Poisson model include average daily traffic (ADT), road geometric and environmental parameters. Geometric parameters were used in a factor analysis to the high accident segment portion of the road. The DEX was used as a tool to determine environmental parameters derived from environmental conditions potentially promoting road accidents. The system developed allows users’ interaction to vary environmental conditions subject to change with different times of a day and weather. The system can provide the analytical results to identify potential positions at risk of accidents on the highway based on individual users’ situations. The system developed can be used as a guide for planning and managing to reduce the number of accidents on the highway. Additionally, the system can provide warning information of road segments for highway users.
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