An investment decision process: the case of advanced manufacturing technologies in Canadian manufacturing firms

Abstract

This article presents a model for analysing advanced manufacturing technology (AMT) investment decisions. An analysis of the decision processes of 22 manufacturing firms, who have adopted AMT, revealed consistent decision making patterns. These patterns, viewed in light of the decision making literature, led to the development of an AMT investment decision model. The derived model consists of stimulus, solution identification, detailing evaluation and authorization stages. The research revealed that the intermediary stages of the model were not performed by all firms, but were dependent upon the scope of the AMT investment, the size and managerial style of the firm, and the degree of experience in AMT investments. The model attempts to illustrate the entire investment decision process, and can be used as a tool for managers and researchers in assessing the thoroughness of AMT investment decisions.

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