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Investigation of The Decision MakingProcess for Technology Investment in TheSaudi Arabia Petrochemical Industry
[Thesis]. Manchester, UK: The University of Manchester; 2012.
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Abstract
Companies and organizations in different industries around the world make use ofdifferent technologies for many reasons and purposes, such as to improve performanceand to stay competitive. This raises some questions and concerns about the use, benefit,risk and the investment decision-making process for the selected technology. A reviewof the available literature shows that the decision-making processes related toinvestments in general are difficult and complex. As a result of this, many organizationsthat have invested in technology have not achieved the required benefits; this leads tounsuccessful investment decisions and loss of opportunities. This can occur whendecision makers and planners do not pay enough attention to some critical factor thatmay affect the investment, or they may just not have planned sufficiently carefully for it.This research aims to examine and investigate the gaps and factors behind technologyinvestment decisions, with a focus on several of the more important factors and elementsthat may have a huge impact on these decisions. These include investment justificationtechniques, technology selection, organizational readiness, technology alignment, andbenefits realization. The unique aspect of this research is that these five elements havenot previously been linked in research publications or reports, particularly within thepetrochemical industry. Thus, the research focuses on these five elements to identify thecritical factors and difficulties to support decision makers in order to achieve successfultechnology investment in the petrochemical industry. To address the research aims, theissues affecting investment decision-making within a number of the biggestpetrochemical companies in Saudi Arabia were investigated.
Layman's Abstract
Companies and organizations in different industries around the world make use ofdifferent technologies for many reasons and purposes, such as to improve performanceand to stay competitive. This raises some questions and concerns about the use, benefit,risk and the investment decision-making process for the selected technology. A reviewof the available literature shows that the decision-making processes related toinvestments in general are difficult and complex. As a result of this, many organizationsthat have invested in technology have not achieved the required benefits; this leads tounsuccessful investment decisions and loss of opportunities. This can occur whendecision makers and planners do not pay enough attention to some critical factor thatmay affect the investment, or they may just not have planned sufficiently carefully for it.This research aims to examine and investigate the gaps and factors behind technologyinvestment decisions, with a focus on several of the more important factors and elementsthat may have a huge impact on these decisions. These include investment justificationtechniques, technology selection, organizational readiness, technology alignment, andbenefits realization. The unique aspect of this research is that these five elements havenot previously been linked in research publications or reports, particularly within thepetrochemical industry. Thus, the research focuses on these five elements to identify thecritical factors and difficulties to support decision makers in order to achieve successfultechnology investment in the petrochemical industry. To address the research aims, theissues affecting investment decision-making within a number of the biggestpetrochemical companies in Saudi Arabia were investigated.