A strategic decision model for the selection of advanced technology |
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| Authors: | C.-H. KUEI C. LIN J. AHETO C. N. MADU |
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| Affiliation: | 1. Management Department , Monmouth College , West Long Branch, NJ, 07764, USA;2. Graduate School of Industrial Management , National Cheng Kung University , Tainan, Taiwan, PR China;3. Accounting Department , Lubin School of Business, Pace University , 1 Pace Plaza, New York, NY, 10038, USA;4. Department of Management and Management Science , Lubin School of Business, Pace University , I Pace Plaza, New York, NY, 10038, USA |
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| Abstract: | This paper introduces models for the selection of advanced technologies. It is based on the concept that technologies are mutually dependent. As such, higher productivity could be realized by simultaneously selecting dependent technologies. Synergistic benefits are realized if such technologies are selected. This paper, therefore, uses the analytic hierarchy process (AHP) and an adjusted priority method to evaluate and rank technologies. A greedy heuristic algorithm is then used to allocate resources to the different technologies. |
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