DECISION MAKING FOR SMALL AND MEDIUM SIZE ENTERPRISES WITH FOCUS ON SUCCESSFUL WORKPLACE COLLABORATION

2021 ◽  
Author(s):  
Velga Vevere ◽  
Arturs Mons
Keyword(s):  
Decision Making ◽  
Medium Size

BUSINESS INTELLIGENCE AND POWER OF KNOWLEDGE

2018 ◽  
Vol 28 (5) ◽  
pp. 1489-1496
Author(s):  
Branislav Stanisavljević
Keyword(s):  
Decision Making ◽  
Financial Performance ◽  
Competitive Advantage ◽  
Business Intelligence ◽  
National Economy ◽  
Business Performance ◽  
Medium Size ◽  
Business Decision ◽  
Economic Point ◽  
Insight Into

Research carried out in the last few years as the example of companies belonging to the category of medium-size enterprises has shown that, for example, typical enterprises, of the total number of data processed in information of importance for its business, seriously takes into consideration and process only 10% of the observed firms. It is justifiable to ask whether these 10% of the processed and analyzed business information can have an adequate potential or motive power to direct the organization to success that is measured by competitive advantages and on a sustainable basis? Or, the question can be formulated: what happens to the rest, mostly 90% of the information that the enterprise does not transform into a form suitable for business analysis and decision-making. It is precisely the task of business intelligence to find a way to utilize all the data collected and processed in the business decision-making process. In this regard, we can conclude that Business Intelligence is, in fact, the framework title for all tools and / or applications that will enable the collection, processing, analysis, distribution to decision-making bodies in the business system in order to derivate from this information valid business decisions - as the most important and / or most important task of the manager. Of course, from an economic point of view, the best decisions are management decisions that provide a lasting competitive advantage and achieve maximum financial performance. This means that business intelligence actually allows a more complete and / or comprehensive view of the overall business performance of all its parts and subsystems. But the system functions can be measured essential and positive economic and financial performance, as well as the position in the branch of the business to which it belongs, and wider, within the national economy. (Of course, today the boundaries of the national economy have become too crowded for many companies, bearing in mind globalization and competitiveness in the light of organization of work and business function). The advantage of business intelligence as a model, if accepted at the organization level, ensures that each subsystem in the organization receives precisely the information needed to make development decisions, but also decisions regarding operational activities. So, it should be born in mind that business intelligence does not imply that information is shared on some key words, on the contrary, the goal is to look at the context of the business, or in general, and that anyone in the further decision hierarchy can manage exactly the same information that is necessary for achieving excellent business performance. Because, if the insight into the information is not complete, the analysis is based on the description of individual parts, i.e. proving partial performance in the realization of individual information, which can certainly create a space for the loss of the expensive time and energy. Illustratively, if the view, or insight into the information, is not 100%, then all business decision-making is like the song of J.J. Zmaj "Elephant", about an elephant and a blindmen, where everyone feels and act only on the base of the experienced work, and brings judgment on what is what or what can be. As in this song for children, everyone thinks that he touches different animals and when they make claims about what they feel, everyone describes a completely different life. Therefore, business intelligence implies that information is fully considered and it is basically the basis or knowledge base, and therefore the basis of business excellence. In doing so, the main problem is how information is transformed into knowledge and based on it in business decision making. It is precisely in this segment that the main advantage of business intelligence is its contribution to the knowledge and business of the company based on power of knowledge. Therefore, for modern business conditions, it is characteristic that the management of the company is realized on the basis of partial knowledge about stakeholders (buyers, suppliers, competitors, shareholders, governments, institutional framework, legislation), and only a complete overview of managers at the highest level in all these partial interest groups allows managers to have a “boat” called the organization of labor leading a safe hand through the storm, Scile and Haribde threatens to endanger business, towards a calm sea and a safe harbor - called a sustainable competitive advantage based on power and knowledge.

scholarly journals Monetary Valuation of Flood Protection Ecosystem Service Based on Hydrological Modelling and Avoided Damage Costs. An Example from the Čierny Hron River Basin, Slovakia

Water ◽  
2021 ◽  
Vol 13 (2) ◽  
pp. 198
Author(s):  
Igor Gallay ◽  
Branislav Olah ◽  
Zuzana Gallayová ◽  
Tomáš Lepeška
Keyword(s):  
Decision Making ◽  
Land Use ◽  
Ecosystem Service ◽  
Hydrological Modelling ◽  
Flood Protection ◽  
Medium Size ◽  
Land Uses ◽  
Monetary Valuation ◽  
Monetary Value ◽  
Damage Costs

Flood protection is considered one of the crucial regulating ecosystem services due to climate change and extreme weather events. As an ecosystem service, it combines the results of hydrological and ecosystem research and their implementation into land management and/or planning processes including several formally separated economic sectors. As managerial and economic interests often diverge, successful decision-making requires a common denominator in form of monetary valuation of competing trade-offs. In this paper, a methodical approach based on the monetary value of the ecosystem service provided by the ecosystem corresponding to its actual share in flood regulating processes and the value of the property protected by this service was developed and demonstrated based on an example of a medium size mountain basin (290 ha). Hydrological modelling methods (SWAT, HEC-RAS) were applied for assessing the extent of floods with different rainfalls and land uses. The rainfall threshold value that would cause flooding with the current land use but that would be safely drained if the basin was covered completely by forest was estimated. The cost of the flood protection ecosystem service was assessed by the method of non-market monetary value for estimating avoided damage costs of endangered infrastructure and calculated both for the current and hypothetical land use. The results identify areas that are crucial for water retention and that deserve greater attention in management. In addition, the monetary valuation of flood protection provided by the current but also by hypothetical land uses enables competent and well-formulated decision-making processes.

A proposed maturity assessment framework of the Greek local government Web Electronic Services

2019 ◽  
Vol 13 (3/4) ◽  
pp. 237-256 ◽  
Author(s):  
Nikolaos Panayiotou ◽  
Vasileios Stavrou
Keyword(s):  
Decision Making ◽  
Statistical Analysis ◽  
Local Government ◽  
Methodological Approach ◽  
Future Research ◽  
Medium Size ◽  
Assessment Framework ◽  
Maturity Level ◽  
Content Type ◽  
Promethee Ii

Purpose This paper aims to construct an assessment framework to establish a maturity model for Web Electronic Services offered at a local government level and investigate the maturity of Greek municipalities in the E-Government field, trying to correlate how this is affected by demographic variables. Design/methodology/approach An original assessment framework regarding municipal Electronic Services was created based on the literature review. The assessment framework was included in a methodological approach supported by the PROMETHEE II method, as well as by selected statistical methods. The framework and the methodological approach were applied in the case of Greek municipalities. Findings The analysis revealed the low maturity level of Greek municipalities in Electronic Services sector. The Greek case study indicated that the proposed framework and methodological approach could provide useful insights to municipalities for the improvement of its E-Government Web services based on their strategic preferences. Research limitations/implications The assessment took place only in Greece, assessing all the country's municipalities and conducting research only in the municipalities’ websites. The proposed methodology suggests that the PROMETHEE II multi-criteria decision analysis method can support the assessment of the maturity level of local government entities. Moreover, the combination of the PROMETHEE II–empowered assessment framework with demographic statistical analysis can assist orthological decision-making concerning future investments in Web Electronic Services. The methodology could be a good option for future research efforts (assessments) in municipalities, in Greece and worldwide. Practical implications The framework is both easy to use and fairly complete. The fact that the assessment was conducted in all the Greek municipalities makes it much more reliable, as it provides the whole picture. The suggested methodology which includes the proposed framework could be used in the cases of municipalities in other countries to assist future actions concerning the investment in Web Electronic Services. Originality/value This study provided a medium-size framework, being both complete and easy to use during the evaluation process of all the municipalities in Greece. In addition, the statistical analysis received data from a decision-making tool to execute the clustering (Cluster analysis is usually performed based on the raw data).

An Efficient Decision-Making Approach for the Planning of Diagnostic Services in a Segmented Healthcare System

2019 ◽  
Vol 18 (05) ◽  
pp. 1631-1665 ◽  
Author(s):  
Rodolfo Mendoza-Gómez ◽  
Roger Z. Ríos-Mercado ◽  
Karla B. Valenzuela-Ocaña
Keyword(s):  
Decision Making ◽  
Healthcare System ◽  
Mixed Integer ◽  
Critical Parameters ◽  
Medium Size ◽  
Public Healthcare ◽  
Second Phase ◽  
Patient Acuity ◽  
Private Providers ◽  
Decision Making Problem

In this paper, we address a decision-making problem related to the requirement of costly equipment by medical diagnostic services in a segmented public healthcare system comprising several institutions and private providers. The problem is motivated by a real-world case of the Mexican healthcare system. The aim of this study is to determine which hospitals can provide the service, their capacity levels, the allocation of demand in each institution, and the referral of patients to other institutions or private providers while minimizing annual investment costs and operating costs required to satisfy demand. A mixed-integer linear programming model that takes into account different characteristics such as patient acuity levels, types of equipment, and demand variation through time is introduced. The model was empirically assessed to evaluate its impact on the decision-making process. A sensitivity analysis to evaluate solution behavior for variations of critical parameters was performed. The results showed that some values could generate a significant effect on the total costs for the service coverage and in the efficiency of the service, whereas overall results indicated the usefulness of the model. While this model is valuable to aid this decision-making problem, it is limited to medium-size instances of up to 90 facilities. To solve the problems with larger instances, a two-phase heuristic algorithm is proposed. In the first phase, the method uses a greedy construction mechanism, and in the second phase, it attempts to improve the solution. Empirical evidence on large instances shows that good solutions with low computing times are reached in comparison with the exact method.

Strategic Decision Making in Intergenerational Successions of Small- and Medium-Size Family-Owned Businesses

2001 ◽  
Vol 14 (1) ◽  
pp. 11-23 ◽  
Author(s):  
Per-Olof Bjuggren ◽  
Lars-Göran Sund
Keyword(s):  
Decision Making ◽  
Decision Trees ◽  
Family Business ◽  
Legal System ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Medium Size ◽  
Strategic Decisions ◽  
The Family ◽  
Transition Modes

This paper deals with intergenerational successions of small and medium-size enterprises (SMEs). Entrepreneurs face an unavoidable succession dilemma: they must make either explicit or implicit strategic decisions about transitioning ownership of the family business. The main alternatives are to sell the company to someone outside the family or to make arrangements for an interfamily succession. In the latter case, there are many transition modes, e.g., through a gift of shares or a will. This paper uses decision trees to analyze intergenerational successions problems. One conclusion of the paper is that it is important for a society to provide a legal system that facilitates transitions of family companies within the family because the legal system will, among other positive factors connected with family businesses, preserve idiosyncratic knowledge of family character.

scholarly journals Small and medium size states in international relations and in European Union

2010 ◽  
Vol 62 (1) ◽  
pp. 79-112
Author(s):  
Dusko Lopandic
Keyword(s):  
Decision Making ◽  
European Union ◽  
International Relation ◽  
International Relations ◽  
Medium Size ◽  
The European Union ◽  
International Context ◽  
Additional Influence ◽  
The Military ◽  
The Eu

The position of small and medium size countries in international context has been studied. The main criteria of power in international relation is still the military and economic force, despite the fact that the size and resources of a country is not equivalent to its actual international influence. With the imposition of Vilsonian principles and with the creation of UN, the position of small and medium size countries has been somehow improved. It becomes even more favorable in the context of a well defined State coalition, which provides with some additional instruments of power. The European Union is the best example of a coalition providing a good framework for small and medium countries. In this article, six specifics mechanisms providing additional influence to small and medium size countries of the EU have been identified. They include the specificity of the EU legal system, decision making, the functioning of the EU bodies, the process of 'europeisation' etc.

scholarly journals Environmental Management Systems (EMS) and learning in small and medium size establishments (SME) : a case study from the beverage industry

2021 ◽  
Author(s):  
Maureen Cooper
Keyword(s):  
Environmental Management ◽  
Decision Making ◽  
Daily Practice ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Third Party ◽  
Medium Size ◽  
Communication Structure ◽  
Organizational Learning Theory ◽  
And Performance

For businesses that are internally motivated to incorporate environmental management into daily practice, an environmental management system (EMS) is an effective tool to address environmental impacts. Yet, certification to formal EMS standards such as ISO 14001 may pose challenges for the unique needs of a small and medium-sized establishment (SME) such as Company Y, who seeks systematized environmental management while maintaining flexibility and openness. The researcher explores the proposition that EMS implementation and performance of an SME in the position of Company Y can be optimized by incorporating key tenets of Organizational Learning theory (OLT) into decision making and operations. Primary questioning, observation and literature research are used to characterize Company Y’s environmental decision-making and communication structure. For growing SMEs that are not comfortable with the formal requirements of third party EMS certification, this thesis suggests that OLT can be an effective approach to integrate environmental management into their business.

scholarly journals A DECISION-MAKING MODEL FOR ADOPTION OF ENTERPRISE RESOURCE PLANNING TOOLS BY SMALL-TO-MEDIUM SIZE CONSTRUCTION ORGANIZATIONS / SPRENDIMŲ PRIĖMIMO MODELIS, TAIKOMAS ĮMONĖS IŠTEKLIŲ PLANAVIMO PRIEMONĖMS PARINKTI MAŽOSE IR VIDUTINĖSE STATYBOS ORGANIZACIJOSE

2012 ◽  
Vol 18 (2) ◽  
pp. 253-264 ◽  
Author(s):  
Sam S. Negahban ◽  
Gregory B. Baecher ◽  
Miroslaw J. Skibniewski
Keyword(s):  
Decision Making ◽  
Enterprise Resource Planning ◽  
Resource Planning ◽  
Medium Size ◽  
Road Map ◽  
Construction Organizations ◽  
Enterprise Resource Planning Systems ◽  
Potential Benefits ◽  
Decision Making Model

Enterprise Resource Planning (ERP) utilization in the construction industry has been limited to large organizations. Significant numbers of construction organizations that have either failed in their efforts to adopt this technology or are not familiar with it are the Small-to Mid-Size Construction Organizations (SMSCOs). Failure in or refusal to adopt ERP by this group, despite all its potential benefits, was the problem addressed in this research. We propose a decision-making model which organizations could utilize to adopt Enterprise Resource Planning Systems. After a careful review of existing technology models, a new ERP Adoption Model (EAM) has been formulated and projected. This model has incorporated new elements that have been set as its new decision-making core. Furthermore, weidentified and ranked the prohibitive criteria that were at play and prevented SMSCO members from successfully adopting and implementing ERP systems in order to increase the understanding of their impact on EAM's processes. Finally, weconducted a case study to analyze the decision-making process of EAM implementation by SMSCOs. ERP AdoptionModel (EAM) provides a decision-making tool that construction organizations can use as a road map. Santrauka Įmonės ištekliai buvo planuojami tik didelėse statybos organizacijose. Daugelis statybos organizacijų, kurios arba nesugebėjo pritaikyti šios technologijos, arba nėra susipažinusios su ja, yra mažos ir vidutinio dydžio statybos organizacijos. Ne-sugebėjimas pritaikyti arba atsisakymas naudoti įmonės išteklių planavimą nepaisant visų jo pranašumų – problema, kuri ir sprendžiama šiame tyrime. Siūlomas sprendimų priėmimo modelis, kurį organizacijos galėtų taikyti įmonės išteklių planavimo sistemoms pasirinkti. Naujas įmonės išteklių planavimo pasirinkimo modelis buvo suformuluotas ir parengtas, prieš tai nuodugniai išanalizavus esamus modelius. Į šį modelį buvo įtraukta naujų elementų, kurie ir sudarė naujo sprendimų priėmimo modelio esmę. Be to, identifikuoti ir nustatyti prioritetai tų kriterijų, kurie trukdė mažoms ir vidutinio dydžio statybos organizacijoms sėkmingai taikyti ir įgyvendinti įmonės išteklių planavimo sistemas, siekdami pagerinti šių kriterijų poveikio įmonės išteklių planavimo procesams supratimą. Galiausiai atliktas tyrimas, kurio tikslas – išanalizuoti įmonės išteklių planavimo sprendimų priėmimo procesą mažose ir vidutinio dydžio statybos organizacijose. Įmonės išteklių planavimo pasirinkimo modelis yra sprendimų priėmimo priemonė, kurią statybos organizacijos gali naudoti tarsi kelių žemėlapį.

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