A real options and joint ventures perspective for strategic decision-making process in the case of dynamic industrial environments

Strategic decision – making process represents a challenge in a dynamic industrial environment. Nowadays, many instruments and techniques are used in the process of decision-making. The perspective regarding real options analysis (ROA), joint ventures (JVs) and strategic decision-making process (SDMP) is very important to be analyzed because it represents a key source to obtain competitive advantage in a turbulent environment characterized by competitiveness, dynamism and a proactive thinking. The aim of the paper is to offer an interesting framework that emphasizes the relationship between real options (ROs), JVs, transaction cost (TC), bargaining models (BM), agency theory (AT) and SDMP. Also, the paper analyzes a real case study and it suggests a business model that includes elements that conduce to an innovative management. The findings are very useful for decision-makers from organizations, researchers and students.