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On the Effectiveness of Minisum Approval Voting in an Open Strategy Setting: An Agent-Based Approach

Authors:
Joop van de Heijning
Stephan Leitner
Alexandra Rausch

Keywords: Open Strategy; minisum approval voting; strategy as a practice; NK model; agent-based modeling

Abstract:
This work researches the impact of including a wider range of participants in the strategy-making process on the performance of organizations, which operate in either moderately or highly complex environments. Agent-based simulation demonstrates that the increased number of ideas generated from larger and diverse crowds and subsequent preference aggregation lead to the rapid discovery of higher peaks in the organization's performance landscape. However, this is not the case when the expansion in the number of participants is small. The results confirm the most frequently mentioned benefit in the Open Strategy literature: the discovery of better-performing strategies.

Pages: 42 to 47

Copyright: Copyright (c) IARIA, 2020

Publication date: October 18, 2020

Published in: conference

ISSN: 2308-4537

ISBN: 978-1-61208-831-0

Location: Porto, Portugal

Dates: from October 18, 2020 to October 22, 2020