Multi-Criteria Framework to measure various strategic choices
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Case Details
Clients: BP CethoStrat Framework
Tags: Framework, Methodologies, Strategist
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Framework Definition & Name
BP CethoStrat is a multi-criteria framework designed to measure the impact of various strategic choices, serving as a crucial reference in decision-making processes.
What’s it For?
Companies often make strategic decisions based on intuition or a single aspect (such as cost efficiency), without integrating other interconnected factors. Another case, companies only use Pareto’s Chart as a selection of 1 criterion (cost-efficiency). BP CethoStrat Framework provides a more quantitative and comprehensive multi-criteria analysis, which is crucial for strategic decision-making, taking into account various relevant criteria.
Where and how was this framework used?
BP CethoStrat can be applied to any business, leveraging its multi-criteria nature based on both internal and external data analysis. BP CethoStrat evaluates cost efficiency and best practices for the business strategies a company intends to implement.
The process applied in BP CethoStrat involves analyzing the costs associated with a strategy and the success benchmarks from companies that serve as the foundation for the criteria. These multi-criteria assessments form a list of strategies. This list is then refined to produce an impactful strategy using the concepts of Numeralization, Euclidean Distance, and pairwise comparison, incorporating both fuzzy and crisp versions.
Impact and Results
BP CethoStrat provides a more quantitative and comprehensive multi-criteria analysis in the percentages of each strategy that is critical for strategic decision-making, offering a comprehensive evaluation of the various criteria under consideration.
What were the key takeaways from using this framework? Problems that exist in various companies regarding confusion in choosing strategic options are the main focus resolved by BP CethoStrat. BP CethoStrat is fully capable of assisting companies in choosing what strategy to implement.
And the feedback from stakeholders who use BP CethoStrat is highly satisfied. They said, “Persentase hasil yang menunjukkan impact (jika diterapkan) pada setiap pilihan strategi sangat membantu kami dalam menentukan arah. Sebelumnya, kami hanya mengandalkan intuisi atau data cost-efficiency. Namun, BP CethoStrat mampu menunjukkan kriteria penting lainnya yang harus dipertimbangkan.”
Supporting Data
Performance Score by impact percentage of the strategies. The percentage of performance score shows 3 strategies options that indicate 1 strategy is the best choice to run. The case study is operational efficiency in a company’s warehouse. The following is a list of strategies that will be implemented.
Data Analysis Chart
The Results
The 3rd Strategy is the best choice.
Summary
BP CethoStrat Framework provides a more quantitative and comprehensive multi-criteria analysis, which is crucial for strategic decision-making, taking into account various relevant criteria. BP CethoStrat gives the best option to choose by percentage impact of Performance Score in each strategy.