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A Conceptual Model for Machinery & Equipment Investment Decisions

Author(s): Stergios Vranakis | Prodromos Chatzoglou

Journal: International Journal of Business and Management
ISSN 1833-3850

Volume: 7;
Issue: 1;
Date: 2011;
Original page

Manufacturing has always been closely linked to technology, which, in recent years, is growing rapidly anddirectly affects the internal and external environment of all businesses, regardless of their size, economic resultsand the industry sector they belong to. Firms, in order to remain competitive, attempt to improve theirinfrastructure investing in new technology and acquiring new machinery and equipment.This study proposes a new conceptual framework for examining the reasons that manufacturing firms decide toinvest on the acquisition of new machinery and equipment in order to improve their infrastructure. Itincorporates various factors related to the internal business environment (strategy, investment decisions etc.), theexternal business environment (customer relationship management, capital subsidies etc.) and the product (newproduct development, innovation, manufacturing flexibility etc.). The main goal is to understand how all thesefactors affect the investment decision making process.
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