Management Decision-Making: Risk Reduction Through Simulation

This research presents findings from two studies conducted by the Universities of Cranfield and Sheffield, which investigated two complimentary, but unrelated, areas of research – manufacturing cladistics, an evolutionary classification scheme from the biological sciences, and evolutionary systems modelling, from the physical sciences. Using this new evolutionary framework, designed to model through simulation the evolution of manufacturing form, new structural organizations were explored. A second study is presented that explores the diversity of management decision-making and the potential consequences on the evolution of manufacturing form. This research compares and contrasts the different opinions of decision-makers. The results, in terms of the evolutionary trajectories that the firm may take, provide interesting insights into the consequences of decision-making of different managers that inevitably base their decisions on different information, values and beliefs. The aim of this and related research is to develop a user-friendly decision-support tool for management.