Decision-Making Optimization of TMT: A Simulated Annealing Algorithm Analysis
ABSTRACT
The decision-making of Top management team (TMT) has been a hot point in academic. The paper find out annealing algorithm method can effectively solve the decision-making optimization problem. Through considering the quality and efficiency of decision-making, applying the annealing algorithm, the optimal decision preference sequence is found. Finally, an application case is proposed. Through determining the initial solution, and choosing the solution neighborhood, and setting the cooling function and temperature, with the simulated annealing algorithm, the optimal solution of the decision is achieved.
The decision-making of Top management team (TMT) has been a hot point in academic. The paper find out annealing algorithm method can effectively solve the decision-making optimization problem. Through considering the quality and efficiency of decision-making, applying the annealing algorithm, the optimal decision preference sequence is found. Finally, an application case is proposed. Through determining the initial solution, and choosing the solution neighborhood, and setting the cooling function and temperature, with the simulated annealing algorithm, the optimal solution of the decision is achieved.
Cite this paper
nullY. Chen, Y. Ge, Z. Song and M. Lv, "Decision-Making Optimization of TMT: A Simulated Annealing Algorithm Analysis," Journal of Service Science and Management, Vol. 3 No. 3, 2010, pp. 363-368. doi: 10.4236/jssm.2010.33042.
nullY. Chen, Y. Ge, Z. Song and M. Lv, "Decision-Making Optimization of TMT: A Simulated Annealing Algorithm Analysis," Journal of Service Science and Management, Vol. 3 No. 3, 2010, pp. 363-368. doi: 10.4236/jssm.2010.33042.
References
[1] D. C. Hambrick and P. A. Mason, “Upper Echelons: The Organization as a Reflection of Its Top Managers,” Academy of Management Review, Vol. 9, No. 2, 1984, pp. 193-206. [2] D. C. Hambrick, “Upper Echelons Theory: An Update,” Academy of Management Review, Vol. 32, No. 2, 2007, pp. 334-343. [3] M. P. Ensley, A. W. Pearson and A. C. Amason, “Understanding the Dynamics of New Venture Top Management Teams: Cohesion, Conflict, and New Venture Performance,” Journal of Business Venturing, Vol. 17, No. 4, 2002, pp. 365-386. [4] F. A. Hayek, “Knowledge in Social Integration,” In: P. S. Myers, Ed., Knowledge Management and Organizational Design, Zhuhai Press, 1998, pp. 44-45. [5] D. M. Schweiger and W. R. Sandberg, “The Team Approach to Making Strategic Decisions,” In: H. G. Glass, Ed., Handbook of Business Strategy, Warren, Gorham & Lamont, Boston, 1991, pp. 1-20. [6] G. F. Wang, M. Li and R. T. Jing, “Research on Conflict, Cohesion and Decision Quality in Top Management Team,” Nankai Business Review, No. 5, 2007, pp. 89-111. [7] L. Zhang, S. S. Chen and W. M. Li, “A Method of Group Decision-Making Based on the Cooperation and Satisfaction,” Mathematics in Practice and Theory, Vol. 34, No. 8, 2004, pp. 35-40. [8] D. W. Wang, J. W. Wang, H. F. Wang, R. Y. Zhang and Z. Guo, “Intelligent Optimization Method,” Higher Education Press, Beijing, 2007, pp. 120-289. [9] L. H. Gong, Z. Y. Liu and W. S. Tang, “Application of Simulated Annealing Algorithm to Optimal Decision of Loan’s Portfolio,” Journal of Jilin University (Information Science Edition), Vol. 21, No. 2, 2003, pp. 143-147. [10] P. Tom, S. Russell and C. Sezgin, “Quality of Decision Making and Group Norms,” Journal of Personality and Social Psychology, Vol. 80, No. 6, 2001, pp. 918-930.
[1] D. C. Hambrick and P. A. Mason, “Upper Echelons: The Organization as a Reflection of Its Top Managers,” Academy of Management Review, Vol. 9, No. 2, 1984, pp. 193-206. [2] D. C. Hambrick, “Upper Echelons Theory: An Update,” Academy of Management Review, Vol. 32, No. 2, 2007, pp. 334-343. [3] M. P. Ensley, A. W. Pearson and A. C. Amason, “Understanding the Dynamics of New Venture Top Management Teams: Cohesion, Conflict, and New Venture Performance,” Journal of Business Venturing, Vol. 17, No. 4, 2002, pp. 365-386. [4] F. A. Hayek, “Knowledge in Social Integration,” In: P. S. Myers, Ed., Knowledge Management and Organizational Design, Zhuhai Press, 1998, pp. 44-45. [5] D. M. Schweiger and W. R. Sandberg, “The Team Approach to Making Strategic Decisions,” In: H. G. Glass, Ed., Handbook of Business Strategy, Warren, Gorham & Lamont, Boston, 1991, pp. 1-20. [6] G. F. Wang, M. Li and R. T. Jing, “Research on Conflict, Cohesion and Decision Quality in Top Management Team,” Nankai Business Review, No. 5, 2007, pp. 89-111. [7] L. Zhang, S. S. Chen and W. M. Li, “A Method of Group Decision-Making Based on the Cooperation and Satisfaction,” Mathematics in Practice and Theory, Vol. 34, No. 8, 2004, pp. 35-40. [8] D. W. Wang, J. W. Wang, H. F. Wang, R. Y. Zhang and Z. Guo, “Intelligent Optimization Method,” Higher Education Press, Beijing, 2007, pp. 120-289. [9] L. H. Gong, Z. Y. Liu and W. S. Tang, “Application of Simulated Annealing Algorithm to Optimal Decision of Loan’s Portfolio,” Journal of Jilin University (Information Science Edition), Vol. 21, No. 2, 2003, pp. 143-147. [10] P. Tom, S. Russell and C. Sezgin, “Quality of Decision Making and Group Norms,” Journal of Personality and Social Psychology, Vol. 80, No. 6, 2001, pp. 918-930.