Estado da arte da relação entre opções reais e estratégia empresarial

Abstract

Corporate Strategy can be interpreted as a set of heuristics that facilitate the decision making process. Real Options are a continuum decision making optimization process that seeks to extract the maximum value in each decision point, conditioned by the states of nature.
Therefore, the relationship between Real Options and Corporate Strategy becomes widely apparent. However to extract maximum value from a ROR approach to investment project management decision makers have to fully understand the value drivers of their organizations (opportunities exclusiveness, past experiences and market power).
Corporate Strategy development must follow a bottom up approach and allows building an investment portfolio that is intertwined with the company´s competitive advantageous. Real Options will be the tool to actively and dynamically manage that portfolio by choosing the best timing to exercise the options.

Date of Award	10 Apr 2012
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Luis Pacheco (Supervisor)