An integration of theoretical knowledge, day by day experience and multicriteria methods to support the entrepreneurial learning process

Purpose – Knowledge, innovation and creativity are the fundamental drivers for an entrepreneur to improve business performance. Often the proposed analyses focus on the economic performance of a company that is considered a stand-alone entity and not an organization correlated with the macroeconomic system. The purpose of this paper is to provide to the entrepreneurs, and propose to the scientific community, a newly structured knowledge system that includes the quality of customers and suppliers, to facilitate learning processes about the current state of the enterprise and new strategic approaches. Design/methodology/approach – The knowledge system is elaborated combining a long day by day experience in a specific Italian field (the Independent After Market -IAM) with the theoretical knowledge of both economic and financial issues and multiple criteria methods of decision aid. The economic and financial key performance indicators are generated ad hoc for a specific sector and created with the concept that a company is in the center of a network composed of its suppliers, customers, competitors and the State. A multiple criteria (MC) model easily and consistently includes aspects that are different in terms of source and formal language. An MC method transparently synthesizes all these elements in relation to a specific decision problem. Integrating the potential of MC models and methods with economic and financial issues and context experience facilitates an effective knowledge transfer to the operators of the sector. Originality/value – The added value of this approach is to allow even small and medium enterprises, without an internal know-how for economic analyses, to use tools that clarify their relations with the interested parties of the macroeconomic system and facilitate the quality assessment of their portfolio of customers/suppliers. For the companies already equipped with business intelligence tools, a comparison with this new approach can be a stimulus to confirm or question their own analysis method. Practical implications – This methodology is oriented to the companies involved in the IAM and in particular to the Manufacture, Distributor and Spare Parts Dealer categories (in Italy almost 500 manufacturers, 150 distributors and 5.000 dealers). Manufacturers can use the methodology and its results to know the economic and financial performances of their customers, distributors can identify their strengths and weaknesses and the situation of their competitors and dealers can identify the most reliable future partners. Also foreign manufacturers may be interested in this analysis, before selling in Italy, and banks and financiers could consult our knowledge frameworks to analyse the risk default.