The application of strategic management in the selection of optimal and sustainable energy sources in less developed countries
Sustainable development problems are a genre of multi-objective ill-defined problems. The scarcity of resources in developing countries adds to the convolution of these problems, which is rooted within many disciplines. Focusing on the energy sector development and its sustainability, the main contribution of this research is of two folds: (i) The use of conventional energy sources has many negative implications on the economies of developing countries. A review of the global efforts to enhance economic growth through the deployment of renewable energy technologies is presented. Noting the failure of these efforts to accomplish their objective in due time, the appropriate strategic management tools were identified and integrated in the problem solving process to aid steer the decision process towards more effectual solutions. (ii) On the micro level, energy development projects are capital-intensive and hence prohibitive for most of the developing countries. The essence of a successful strategy is then to find the dynamic strategic fit (DSF) between these systems' external factors (opportunities and challenges) and their internal factors (resources and capabilities). We present an algorithm that utilizes the DSF concept to improve on sub-optimal solutions represented by economically feasible developmental projects. We present two real-world applications that illustrate the algorithm's ability to reduce the behavioral makeup of decision-makers and politics effects, which are discerned with MADM models.
Alternative energy sources
0546: Industrial engineering