Modeling Multiobjective Multistakeholder Decisions: A Case-Exercise Approach

Tianjun Feng - fengtj@gmail.com
School of Management, Fudan University, Shanghai, P.R. China 200433
L. Robin Keller - lrkeller@uci.edu
The Paul Merage School of Business, University of California, Irvine, Irvine, California 92697
Xiaona Zheng - xzheng@gsm.pku.edu.cn
Guanghua School of Management, Peking University, Beijing, P.R. China 100871

Abstract

The multiobjective multistakeholder decision modeling methodology is an effective way to describe and aid context-rich idiosyncratic organizational decision making situations that traditional single attribute decision methodologies can not tackle. The purpose of this paper is to demonstrate how to teach students this methodology as a decision making tool to analyze real-life decision problems using two business decisions as examples (the StarKist decision and the Home Depot case). In particular, we discuss the specific skills students are expected to learn, such as dynamic sensitivity analysis, and typical student questions and errors during case discussion. This methodology has been taught successfully in decision analysis courses both for MBA (including full-time MBA students, business and health care executive MBA students) and undergraduate students.

Key words
decision analysis, multiobjective multistakeholder decision modeling methodology, StarKist, Home Depot case, strategy, stakeholder analysis

History
Received: May 2007; accepted: May 2008. This paper was with the authors 2 months for 2 revisions.

Download the PDF
10.1287/ited.8.3.103

Supplementary Materials

HomeDepotTeachingNote.pdf (visit the Teaching Notes and other restricted materials page to download this PDF)
HomeDepotCase.xls
SummaryofHomeDepotCase.xls

Citation Information
Feng, T., L. R. Keller, X. Zheng. 2008. Modeling Multi-Objective Multi-Stakeholder Decisions: A Case-Exercise Approach. INFORMS Trans. Ed. 8(3) 103-114. Available online at http://ite.pubs.informs.org/.

DOI: 10.1287/ited.1080.0012