Abstract
In this research project we have connected the procedural and substantive decision support by means of modern information technology. We have showed how the semistructured strategic decisions concerning intangible investments can be supported effectively by relating appropriate analysis methods to the different phases of the investment process. Because for the intangible investments there is no well-defined solution procedure available, a variety of methods must be integrated to support the solution process. As a demonstrative example we showed how the intangible investments in logistic systems can be managed. It was highlighted that the logistics systems are complex, cross-functional systems that affect all major functions or departments within the firm beginning from the raw material deliveries and ending with the deliveries of finished goods. Investments in the logistics systems have corporatewide, cross-functional effects, and the investment decisions are strategic decisions. Consequently, the investments in the logistics systems should be strategically justified, not only cost-justified. The cross-functional effects imply that the investment analysis concerning the whole logistics system must be fulfilled under multiple, diversified criteria. We can not, however, ignore the financial, cost and revenue oriented, traditional investment criteria. They just have to be used in a new, flexible way in relation to the goals and objectives of the firm. Strategic planning is a managerial area where semistructured problems frequently exist. One of the key problems faced in strategic management is the issue of investment decisions. Investments in information systems, logistic systems, flexible production systems, corporate image, etc, are examples of complex investment problems that are difficult to quantify and analyze with traditional techniques. Modern computer technology can enrich the analysis and improve the quality of strategic decision making.
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