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Scenario-based portfolio model for building robust and proactive strategies

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Vilkkumaa, Eeva
dc.contributor.author Liesiö, Juuso
dc.contributor.author Salo, Ahti
dc.contributor.author Ilmola-Sheppard, Leena
dc.date.accessioned 2017-11-21T13:37:34Z
dc.date.available 2017-11-21T13:37:34Z
dc.date.issued 2018-04-01
dc.identifier.citation Vilkkumaa , E , Liesiö , J , Salo , A & Ilmola-Sheppard , L 2018 , ' Scenario-based portfolio model for building robust and proactive strategies ' , European Journal of Operational Research , vol. 266 , no. 1 , pp. 205-220 . https://doi.org/10.1016/j.ejor.2017.09.012 en
dc.identifier.issn 0377-2217
dc.identifier.other PURE UUID: 8eb47d69-343c-47d7-bfc3-48b7eeeca0f4
dc.identifier.other PURE ITEMURL: https://research.aalto.fi/en/publications/8eb47d69-343c-47d7-bfc3-48b7eeeca0f4
dc.identifier.other PURE FILEURL: https://research.aalto.fi/files/56704634/1_s2.0_S0377221717308020_main_1.pdf
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/28827
dc.description.abstract In order to address major changes in the operational environment, companies can (i) define scenarios that characterize different alternatives for this environment, (ii) assign probabilities to these scenarios, (iii) evaluate the performance of strategic actions across the scenarios, and (iv) choose those actions that are expected to perform best. In this paper, we develop a portfolio model to support the selection of such strategic actions when the information about scenario probabilities is possibly incomplete and may depend on the selected actions. This model helps build a strategy that is robust in that it performs relatively well in view of all available probability information, and proactive in that it can help steer the future as reflected by the scenarios toward the desired direction. We also report a case study in which the model helped a group of Nordic, globally operating steel and engineering companies build a platform ecosystem strategy that accounts for uncertainties related to markets, politics,and technological development. en
dc.format.extent 16
dc.format.mimetype application/pdf
dc.language.iso en en
dc.rights openAccess en
dc.title Scenario-based portfolio model for building robust and proactive strategies en
dc.type A1 Alkuperäisartikkeli tieteellisessä aikakauslehdessä fi
dc.description.version Peer reviewed en
dc.contributor.department Department of Information and Service Economy
dc.contributor.department Department of Mathematics and Systems Analysis
dc.contributor.department International Institute for Applied Systems Analysis
dc.identifier.urn URN:NBN:fi:aalto-201711217648
dc.identifier.doi 10.1016/j.ejor.2017.09.012
dc.type.version proof

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