scholarly journals RISK STUDY IN THE DECISION-MAKING MANAGEMENT PROCESS

2021 ◽  
Author(s):  
Olha Matvieieva ◽  
Olha Bondarenko ◽  
Oksana Duksenko
Keyword(s):  
Decision Making ◽  
Economic Behavior ◽  
Management Decision ◽  
Management Decisions ◽  
Managerial Decision ◽  
Economic Relations ◽  
Managerial Decisions ◽  
Degree Of Risk ◽  
Economic Thinking ◽  
The Impact

The article examines the essence of risk in the process of making managerial decisions and the reasons for its occurrence. The subject of risk acceptance research is established. It is proved that the source of risk is uncertainty caused by irreversible inconsistency of elements of the whole economic system and the presence of sources that contribute to its growth, as well as: limited resources at the stage of making or implementing management decisions, influence of the a posteriori period, object of economic relations, existing differences and stereotypes in the economic behavior of different subjects of economic relations. Risk research is presented structured according to two dichotomies: the first – division into researches connected with risk assessment, and works in which acceptance of risk is studied; the second is based on the fact that decisions can be collective or made by a single entity. Factors influencing the degree of risk and its probability in the process of making management decisions are given. The dependence of alternatives and management decisions on the degree of risk and its probability is revealed. A critical analysis of risk theory identified the impact of the "law of risk" on the organization of economic activity and the decision-making process. The process of making managerial decisions is described taking into account the main types of managerial decisions, which is based on theories of decision making. It is proved that the theory of decision-making requires a new economic thinking, which will complement it by studying the behavior of not abstract, but the real subject of economic relations, which, in turn, will ensure the effectiveness of management decisions. The main provisions of the theory of decision making in the presence of risk are revealed. The dominant theory of managerial decision – making in the presence of risk is studied – the theory of maximizing the expected utility. The general regularity in the process of making the management decision taking into account alternatives and probability of risk is revealed. Determination of management decisions – willingness to take risks, which can be understood as a willingness to go beyond situational constraints, goal setting, including testing of personal abilities, theoretical knowledge and practical skills, qualifications, willingness to control the results of management.

scholarly journals Model and method of making management decisions based on the analysis of geospatial information

2021 ◽  
Vol 5 (2) ◽  
pp. 42-48
Author(s):  
Ihor Butko
Keyword(s):  
Decision Making ◽  
Environmental Conditions ◽  
General Scheme ◽  
Management Decision ◽  
Management Decisions ◽  
Managerial Decision ◽  
Geospatial Information ◽  
Managerial Decision Making ◽  
Predictive Values ◽  
Managerial Decisions

The article proposes a model and method of making managerial decisions based on the analysis of geospatial information. The goal of the article is to improve the model and method of making managerial decisions based on the analysis of geospatial information. The results: the algorithm of process of acceptance of the administrative decision which consists of a situational and conceptual part is offered; the algorithm of actions of the head of the organization on the basis of the developed model of acceptance of the administrative decision is offered; the situation when the quality of the decision depends on external factors on which the decision-making body does not influence is considered; the general scheme of a method of acceptance of administrative decisions on the basis of the analysis of the geospatial information is resulted. The methods used are: methods of systems analysis, decision theory, information processing, optimal solutions, probability theory. Conclusions. The model of managerial decision-making has been improved, which, unlike the known ones, is dynamic and is based on the selection of decisions that are optimal by the combined criterion, using predictive values of probabilities of environmental conditions, which ensures the validity of management decisions. The method of managerial decision-making based on geospatial information analysis, which is based on data forecasting and management decision-making models and uses the method of semantic segmentation of species images to assess the a priori probabilities of environmental conditions, further enables decision-making in conditions of risk and uncertainty. The direction of further research is the development of information technology for management decisions based on the analysis of geospatial information.

scholarly journals Adoption of management decisions based on programming methods as a subgroup of methods for optimizing performance indicators

2019 ◽  
Vol 4 (9) ◽  
pp. 34-44
Author(s):  
А. Тебекин ◽  
A. Tebekin
Keyword(s):  
Decision Making ◽  
Performance Indicators ◽  
Management Decision ◽  
Management Decisions ◽  
General Classification ◽  
Managerial Decisions ◽  
Management Decision Making ◽  
First Time

The author's classification of management decision-making methods, including twenty-five classes of methods, is presented for the first time. As part of the general classification of management decision-making methods, the role and place of a group of methods for making managerial decisions based on the optimization of performance indicators was demonstrated. In the group of methods for making managerial decisions based on the optimization of performance indicators, a subgroup of programming methods (linear, nonlinear and dynamic) is considered in detail. The features of use and application are shown when making managerial decisions of a subgroup of programming methods.

scholarly journals Strategies for making management decisions in information and analytical activity

2021 ◽  
pp. 26-30
Author(s):  
Olha Danylyuk ◽  
Lyudmyla Petryshyn
Keyword(s):  
Decision Making ◽  
Management System ◽  
Management Decisions ◽  
Managerial Decision ◽  
Significant Information ◽  
Managerial Decision Making ◽  
Managerial Decisions ◽  
Regional Management ◽  
Analytical Research ◽  
Principles Of Design

The aim of the study is to substantiate and analyze the strategy of managerial decision-making in information and analytical activities, to specify the main aspects of analytics for decision-making.Strategies for making managerial decisions in information and analytical activities are substantiated. The relevance of the use of information-analytical research is determined. The main aspects of analytics for decision making are analyzed, as well as the ranging of classes according to the degree of intelligence and complexity of tasks is taken into account. The peculiarities of completeness and reliability of information for information-analytical research are revealed. It is determined, that information analytics is a component of management.The regional management analytics is analyzed, as a result of which it is proposed the scheme of regional management with the use of information and analytical support is offered. The basic principles of design are offered. It is proved, that the management system requires modern analytical support, performed according to the requirements of science, the latest methodologies, including information and analytical activities. Problems and negative sides in the process of information-analytical activity in the system of regional management are determined. It is noted, that information and analytical support helps to achieve the best results, and the effectiveness of activities in any field depends on the management system. The obtained research results will allow will improve planning, organization and coordination of managerial decision-making and will help to form a significant information capital for making relevant management decisions at all hierarchical levels of management

Modeling management decision making in the socially oriented business structures

2021 ◽  
Vol 96 (3) ◽  
pp. 78-86
Author(s):  
L. I. Kulakova ◽  
◽  
A. V. Polyanin ◽  
V. V. Tarnovskiy ◽  
◽  
...  
Keyword(s):  
Mathematical Models ◽  
Management Decision ◽  
Phase System ◽  
Management Decisions ◽  
Managerial Decision ◽  
Two Phase ◽  
Managerial Decisions ◽  
Non Linear ◽  
Management Decision Making ◽  
Business Structures

The article discusses the main economic and mathematical models used in making and implementing management decisions. It has been established that the beginning of making a managerial decision is determined by the nature of solution of managerial problem: creative and standard, implementation of a managerial decision is subordinate to the certainty of the result, that is, its probabilistic or deterministic outcome. The procedure and modeling of the process of making and implementing management decisions will be linear or non-linear. On this basis, the types of mathematical models for solving managerial problems are considered when making and implementing managerial decisions to optimize the chosen option. The author's model is proposed based on a two-phase system from the theory of queues with elements of nonlinear programming for making and implementing managerial decisions in socially oriented business structures. The model includes a combination of linear and non-linear programming. Since when conducting business, socially oriented entrepreneurial structures are aimed at obtaining two types of effects, both commercial and social.

scholarly journals QUALIMETRIC METHODS IN ASSESSING THE EFFECTIVENESS OF MANAGEMENT DECISIONS IN UNIVERSI-TIES

2019 ◽  
Vol 7 (5) ◽  
pp. 237-244
Author(s):  
Serik M. Abilov ◽  
Alexander A. Kaigorodtsev
Keyword(s):  
Decision Making ◽  
Organizational Structures ◽  
System Thinking ◽  
Practical Significance ◽  
Management Decision ◽  
Management Decisions ◽  
Managerial Decision ◽  
Index Value ◽  
The University

Abstract Purpose: Management decision in the university is a process of convergent analysis, forecasting and timely resolution of problem situations, aimed at achieving synergetic results. The research studies the advantages and feasibility of using qualimetric methods for evaluating effectiveness of the university’s management decisions. Methodology: Our proposal is to use the method, based on qualimetric analysis, in assessing the effectiveness of management decisions in the university. The theoretical propositions and the argumentation of the research findings have been grounded with the following general scientific methods system-thinking approach, structural and level-based, logical and economic-based, as well as statistical analysis. Main Findings: The management decision effectiveness is based on the level of collaboration in decision-making. The degree of collaboration in decision-making is determined by the involvement of various stakeholders in the process. Index of timeliness of a management decision implementation is the ratio of standard time to the actual time spent. The decision is effective if the index value is equal to 1 or exceeds it. Decision efficiency is evaluated based on the quality of its implementation. The integrated indicator of decision-making effectiveness is a combination of values for all four parameters.     Implications/Applications: The practical significance of the research predetermined by the fact that application of this methodology contributes to optimizing the interaction of organizational structures on the management synergy basis, and, as a result, to improving the quality of educational services provided by the university. Using the method of qualimetric analysis raises the level of personnel involvement in the process of managerial decision-making, objectivity and decisions quality.

scholarly journals MANAGEMENT DECISIONS AND FACTORS THAT INFLUENCE THE PROCESS OF ITS ADOPTION AND IMPLEMENTATION

2019 ◽  
pp. 3-6
Author(s):  
M. S. Briukhovetska
Keyword(s):  
Decision Making ◽  
Training And Development ◽  
Risk Identification ◽  
Decision Makers ◽  
Management Decision ◽  
Management Decisions ◽  
Managerial Decision ◽  
Adoption And Implementation ◽  
Decision Making Processes ◽  
Key Aspects

The study evaluated the decision-making processes and determined that the factors that influence the administrative decision-making processes can be divided into рersonal and material aspects. The main purpose of the article was to identify ways to improve the decision-making process by identifying the factors that influence it. It is found that the concept of "underfunding" is relative. Management decisions are not attributed to the category of expenditures. They are unrelated to the purchase of technology and new equipment. The main factor, however, is the organizational culture and the management system. After all, knowledge in the field of management and administration, appropriate training and development of innovations in the field of management is important for most managers. It is emphasized that an important element of decision making is to ensure that it is properly substantiated. It should properly inform those who are interested in its adoption. The decision should outline the key aspects under consideration and the underlying considerations. It should contain a detailed statement of all the essential issues. The basic prerequisites for making an effective management decision are identified: they must make a clear strategy, resource allocation and risk identification; the ideas put forward by decision makers should be taken into account; the decision-making procedure must be fast in order not to lose its relevance; the decision should not contradict the decisions of other management structures, as there must be consistency between them for the implementation of the functions entrusted to the institution. It is proved that several steps are needed to make a decision: first, to identify the problem to be solved and the goals to be achieved, secondly, to identify the alternatives that lead to the proposed goals, and to evaluate whether the alternatives meet the expected the result, thirdly, to take all necessary measures to implement the solution. It is concluded that an effective managerial decision must be pragmatic, since it is an important step in its implementation. If the solution does not translate into work and a concrete result, it is not the decision, it is the intention.

scholarly journals DESTABILIZING EFFECTS OF ERRONEOUS AND UNTIMELY MANAGERIAL DECISIONS ON ENTREPRENEURSHIP DEVELOPMENT IN UKRAINE

2020 ◽  
Vol 22 (3(76)) ◽  
pp. 39-52
Author(s):  
I.V. GRYSHCHENKO ◽  
O.V. PROKOPENKO
Keyword(s):  
Decision Making ◽  
Negative Impact ◽  
Methodological Approach ◽  
Economic Security ◽  
Innovative Development ◽  
Managerial Decision ◽  
Economic Interests ◽  
Entrepreneurship Development ◽  
Managerial Decisions ◽  
The Impact

Topicality. There is a requirement to study erroneous and untimely adoption of managerial decisions in the field of entrepreneurship in Ukraine combining economic interests of the businesses with the interests of the society and environment as a base to improve the specific tools of the organizational and economic mechanism of managerial decision-making in the field of entrepreneurship development, taking into account the requirements of economic security of Ukraine. Aim and tasks. The purpose of this research is to build a conceptual model of the impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine. Under the purpose of the research, the following tasks were identified: 1) to determine the economic essence of erroneous and untimely decision-making in the field of entrepreneurship management; 2) to investigate the impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine; 3) to propose a scientific and methodological approach to overcome the negative impact of erroneous and untimely managerial decisions on entrepreneurship development in Ukraine. Research results. The economic essence of erroneous and untimely adoption of managerial decisions in the field of entrepreneurship is been established. We consider that erroneous and untimely managerial decisions are decisions which made in violation of the principles of specificity in time and economic efficiency. The impact of erroneous and untimely adoption of managerial decisions in the field of entrepreneurship is investigated in the article. The depth and duration of the destabilizing impact of erroneous and untimely managerial decisions in the sphere of entrepreneurship are determined mainly by the fact that they significantly accelerate the main processes that underlie the general instability of the modern economic system. Considering the erroneous and untimely decision-making in the field of entrepreneurship management, we can identify eight main areas of their impact: the institutional direction, the financial and economic direction, the social direction, the criminalization of economic relations, inhibition of innovation, external geopolitical impacts, internal geopolitical impacts, and structural economic imbalances of entrepreneurship development. The existence of these impact directions of erroneous and untimely decision-making in the field of entrepreneurship management leads to the destruction of existing and makes it impossible to build effective mechanisms for innovative development of the entrepreneurship, causes the degradation of existing resources and economic potential of Ukraine. A conceptual model for the impact of untimely decision-making in a field of national economy management is designed in the article. Scientific and methodical approaches to overcoming the negative impact of erroneous and untimely adoption of managerial decisions on the balanced development of entrepreneurship are been proposed in this document. This approach can be based on: firstly, on the correct decomposition of the problem – decomposition of the problem of erroneous and untimely decision-making into several main issues with the definition of their significance; secondly, on a systematic survey of experts in this subject to obtain the most accurate specification of the managerial decision, which may consist of a list of parties with their interests and capabilities; besides – on computer modeling of processes occurring in socio-economic systems. It should be noted, that one of the most pressing issues today is the implementation of such an approach to managerial decision-making, which would ensure a sufficiently high level of innovative development of entrepreneurship, combining economic interests of the businesses with the interests of the society and environment. Conclusion. The results of our research allowed us to conclude that erroneous and untimely adoption of managerial decisions in the sphere of entrepreneurship can lead not only to a direct and continuous decline in production capacity, which can be directly expressed in the real waste of labor potential. Overcoming the problem of erroneous and untimely decision-making in the field of entrepreneurship management can contribute to the formation of a rational and balanced spatial structure of the Ukrainian economy; to the development of effective competitive businesses; to the rational use of labor resources, equalization of socio-economic development of Ukraine; to the improving the demographic situation and increasing the life expectancy of Ukrainian population; to the increasing of gross domestic product. Successful practical implementation of the proposed scientific and methodological approach to overcoming the negative impact of erroneous and untimely adoption of managerial decisions is possible only if the objectives of innovative development of entrepreneurship and economic security of Ukraine are properly taken into account.

EFFICIENCY OF MANAGEMENT DECISIONS IN LOCAL GOVERNMENT BODIES

2017 ◽  
Author(s):  
Tetiana Sych ◽  
◽  
Keyword(s):  
Decision Making ◽  
Local Government ◽  
Public Administration ◽  
Professional Training ◽  
Human Factor ◽  
Nobel Laureate ◽  
Management Decision ◽  
Management Decisions ◽  
State Management ◽  
Public Administration Reform

The article considers the factors influencing the efficiency of management decisions made by local government bodies in the modern conditions of public administration reform and the development of local self-government in Ukraine. The author outlines the features of this problem, the main features of state-management decisions, the essence of the concepts "effect", "efficiency of management decisions", the main approaches to the study of the problem of decision-making are highlighted. The main attention is paid to the direction of research, which takes into account the human factor. The main ideas of the representative of this direction - the Nobel laureate D. Kahneman, presented in the book "Noise", are considered. This work raises the issue of system errors among those who make decisions. The views of the domestic scientist O. Maltsev on the designated problem and the provisions of D. Kahneman's book are presented. The results of the analysis by scientists of the influence of the human factor and psychological characteristics of management decision-making on the efficiency of decisions are reflected. The conclusions of scientists regarding the need to take into account the qualities of a decision- making person and his professional training are summarized. The main characteristics of the personality that influence decision-making are given from the domestic scientific literature on public administration problems. In accordance with these ideas, the requirements for the positions of civil servants, local self-government bodies, as well as the modern practice of training specialists and managers in this field are considered. It is concluded that the primary importance for making effective decisions by local government bodies is the use by specialists and managers of modern technologies for developing and making management decisions, the development of their personal qualities for making management decisions in the process of training and obtaining specialized management education in universities.

scholarly journals MODELING AS A SCIENTIFIC TOOL FOR SUBSTANTIATION OF MANAGEMENT DECISIONS IN OPERATIONAL ACTIVITIES OF TRANSPORT ENTERPRISES

2021 ◽  
Vol 49 (2) ◽  
pp. 162-172
Author(s):  
Snizhko L ◽  
◽  
Buzun T ◽  
Razvodovska V ◽  
◽  
...  
Keyword(s):  
Decision Making ◽  
System Analysis ◽  
Management Decision ◽  
Decision Making Process ◽  
Management Decisions ◽  
Legal Form ◽  
Operational Decisions ◽  
Operational Activities ◽  
Problem Formalization ◽  
Scientific Tool

On the basis of analysis of existing approaches to the process of decision making, in this article the procedure of taking optimal operational decisions is proposed, which describes in detail all of its aspects and features related to the specifics of the operational activities of transport enterprises. In this procedure the basic steps are those directly related to the modeling: formulation of the problem (formalization of the original problem), construction of the model, its solution, credibility and adequacy check, restoration (or adjustment) of the model. The object of the research is decision-making process in the operational management of transport enterprises. The purpose of the research is to develop a procedure for the process of making optimal operational decisions based on existing approaches to the decision-making process, using modeling as a scientific tool to substantiate them. The research method is methods of system analysis and modeling. It has been discovered that the need to reduce the subjectivity of the process of making important decisions in the operational activities of transport enterprises and increase its scientific validity is especially relevant today, in the face of threats and uncertainty about the external environment of the organization. All methods of rational decision-making are based on models, which, in turn, are scientific tools. Modeling creates a serious informational and methodological basis for structural analysis of decisions needed to improve the management process for operational managers and hence - to increase the level of management in general, because it makes them more systematic, and the tools used during this help them be more rational. The results of the article can be implemented during making complex and important management decisions in the operational activities of both transport enterprises and other business entities of various activities, regardless of the organizational and legal form and ownership. KEY WORDS: MODELING METHOD, MODELING, MODEL, TRANSPORT ENTERPRISE, OPERATIONAL ACTIVITY, OPERATIONS MANAGER, MANAGEMENT DECISION.

scholarly journals Heuristics, biases and traps in managerial decision making

2013 ◽  
Vol 61 (7) ◽  
pp. 2117-2122
Author(s):  
Peter Gál ◽  
Miloš Mrva ◽  
Matej Meško
Keyword(s):  
Decision Making ◽  
Systematic Errors ◽  
Small Samples ◽  
Evidence Based ◽  
Managerial Decision ◽  
Initial Information ◽  
Representativeness Heuristic ◽  
Starting Point ◽  
The World ◽  
The Impact

The aim of the paper is to demonstrate the impact of heuristics, biases and psychological traps on the decision making. Heuristics are unconscious routines people use to cope with the complexity inherent in most decision situations. They serve as mental shortcuts that help people to simplify and structure the information encountered in the world. These heuristics could be quite useful in some situations, while in others they can lead to severe and systematic errors, based on significant deviations from the fundamental principles of statistics, probability and sound judgment. This paper focuses on illustrating the existence of the anchoring, availability, and representativeness heuristics, originally described by Tversky & Kahneman in the early 1970’s. The anchoring heuristic is a tendency to focus on the initial information, estimate or perception (even random or irrelevant number) as a starting point. People tend to give disproportionate weight to the initial information they receive. The availability heuristic explains why highly imaginable or vivid information have a disproportionate effect on people’s decisions. The representativeness heuristic causes that people rely on highly specific scenarios, ignore base rates, draw conclusions based on small samples and neglect scope. Mentioned phenomena are illustrated and supported by evidence based on the statistical analysis of the results of a questionnaire.

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