Two fundamental approaches
If you have searched the web for hits concerning the keywords concerning the topic of our clinic, you will find some typical approaches. In general, I see two radically different approaches: one which takes an economist view on the issue of valuation, which is philosophically a "reductionist" and analytical approach, namely to find or reduce all the aspects to one common numerical denominator: money, (how fast do I get my investment back?); the other is a holistic approach, which tries to ÓoperationaliseÓ uncomparable qualitative indicators, an approach using socalled multi-criteria decision support tools adding weights or rating to qualitative aspects thus allowing some sort of numerical ranking.
Let me state immediately that I have seen a lot of economist methods employed but never been impressed by their power of prediction; the number of uncertainties are simply too many to attempt to make a science out of business decision making. If indeed, we (someone) could predict Where's the Beef?, we would be rich and not sit here today
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