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Metoda opcji rzeczowych jako przykład nowego podejścia do problemu oceny opłacalności przedsięwzięć inwestycyjnych
Real Options Method as an Example of a New Approach to the Evaluation Problem of Profitability of Investments
Współczesne Zarządzanie, 2007, nr 4, s. 144-152, bibliogr. 32 poz.
Otoczenie przedsiębiorstwa, Zarządzanie strategiczne, Konkurencyjność przedsiębiorstwa, Opcje rzeczowe
Enterprise environment, Strategic management, Enterprise competitiveness, Real option
streszcz., summ.
W artykule scharakteryzowano główne tendencje zachodzące w otoczeniu przedsiębiorstw, przedstawiono genezę, założenia oraz istotę metody opcji rzeczowych oraz dokonano oceny przydatności tej metody w zarządzaniu strategicznym, stymulowaniu procesów organizacyjnego uczenia się i budowie trwałej pozycji konkurencyjnej przedsiębiorstwa. (abstrakt oryginalny)

Business environment is changing with ever increasing dynamics. The pace of technological progress makes these changes non-linear and difficult to forecast. In such environment managerial flexibility is one of the key factors enabling continuous learning, upgrading resources and capabilities so as to create sustained competitive advantage. Real options analysis provides concepts and tools which allow, at least in some cases, to assign specific value to managerial flexibility. Allowing for this additional option value, the companies my find justification for the acceptance of risky projects that would have been rejected under "traditional" methods based on cash flows discounting. Despite intellectual appeal of the method objections are raised as to the correctness of direct transfer of evaluation methods developed in financial markets to the area of investment projects and strategic management. (original abstract)
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