Meaning ● Expert Elicitation Strategy, within the realm of Small and Medium-sized Businesses, is the systematic process of obtaining specialized insights and informed judgements from individuals possessing unique knowledge vital for SMB growth initiatives, automation deployments, and strategic implementation programs. Specifically, it’s about leveraging targeted expertise to mitigate risks, refine operational models, and drive more effective resource allocation in contexts where internal knowledge may be limited. This strategic approach reduces uncertainty when making decisions about crucial technology investments. ● Essentially, a properly structured Expert Elicitation Strategy helps SMBs by incorporating external knowledge into internal decision-making when entering new markets or deploying complex IT systems. ● In the context of automation, this may involve consulting subject matter authorities regarding optimal system configurations. It provides essential validations for new business directions before significant capital is deployed into potentially volatile markets. These focused external insights serve as crucial components for effective project selection frameworks for businesses.
