Development of an Approach to the Formation of a Portfolio of Innovative Projects of an Industrial Enterprise

2021 ◽  
pp. 4-11
Author(s):  
Irina Domozhirova ◽  
E. Mihaleva
Keyword(s):  
Decision Making ◽  
Management Practice ◽  
Industrial Enterprise ◽  
Successful Implementation ◽  
Innovative Development ◽  
Managerial Decision ◽  
Management Activity ◽  
Managerial Decision Making ◽  
Content Organization ◽  
Selection Of

The article is devoted to the issues of increasing the efficiency of innovative activity of an industrial enterprise, which ensures the implementation of the formed portfolio of innovative projects. Innovative development of economic entities is possible if new requirements to the content, organization, forms and methods of management activity are met [1], which means that tools for monitoring the innovative development of an industrial enterprise, methods for assessing innovative opportunities and the effectiveness of managerial decision-making in innovation are needed [3]. To solve this problem, it is proposed to use the algorithm presented in the article for the formation of a portfolio of innovative projects of an industrial enterprise, including the developed methodology for their selection according to efficiency and feasibility indicators, the use of which in management practice makes it possible to make a reasonable assessment of the possibility of successful implementation of these projects and ensure an increase in the probability of achieving a positive result. The selection of innovative projects according to efficiency and feasibility indicators for PJSC "CADVI" was carried out and a portfolio of innovative projects for this enterprise was formed.

Neurostrategy

2021 ◽  
pp. 1876-1893
Author(s):  
César Camisón
Keyword(s):  
Decision Making ◽  
Critical Evaluation ◽  
Managerial Decision ◽  
Mental Processes ◽  
Organization Studies ◽  
Managerial Decision Making ◽  
Economic Decisions ◽  
Behavioural Strategy ◽  
Problem Solving Process ◽  
Selection Of

The key premise of economics, which views people as utilitarian individuals who make completely rational economic decisions, has influenced other disciplines as Strategy. However, the developments in behavioural neuroscience have opened a major understanding of the mental processes that explain managers's behaviour and effectiveness.This article presents a review of the contributions from behavioural neuroscience to the study of managerial decision-making and offers a critical evaluation of its implications for management and organization studies, especially in the field of strategy. The paper reviews the most recent literature on neurostrategy and maps out the main strands of the debate and their implications for understanding the behaviour of strategy-makers. The study of neuronal and psicological foundations for strategy-makers behaviours and decision-making has identified the problems of the general model of the rational problem-solving process in information, perception, and selection of strategies, and how behavioural strategy can help us to identify them and prevent them.

scholarly journals USING TOPSIS METHODS FOR SELECTION OF ELECTRICITY SUPPLIER

2021 ◽  
Author(s):  
Halyna Pudycheva
Keyword(s):  
Decision Making ◽  
Methodological Approach ◽  
Entropy Method ◽  
Energy Market ◽  
Decision Matrix ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Ideal Object ◽  
Selection Of ◽  
The Ideal

Different spheres of application of TOPSIS methods are considered by the author based on the literature review. The characteristics of TOPSIS methods for the selection of electricity supplier in Ukrainian energy market, which was launched in 2019, are studied in the article. The proposed methodological approach could be used by the enterprises, which consume electricity, buying it from suppliers on the energy market. The general problem statement for multi-criteria optimization in order to evaluate electricity suppliers is formulated by the author. The main stages of the TOPSIS method procedure are considered in the article, among which are identification of decision matrix, normalization of decision matrix, calculation of weighted normalized decision matrix, identification of “ideal” and “ideal-negative” expected state, distances calculation and calculation of related proximity to the “ideal” state. According to the obtained indicator of proximity the ranking of the researched objects should be conducted. It is highlighted in the article that the cost factor does not have significant influence in the process of the electricity supplier selection. The indicators, according to which the assessment of electricity suppliers is carried out, are given. The author proposes to use the indicators of enterprises’ efficiency, business activity, solvency, as well as financial results and profitability. Among these indicators the author identifies stimulators and destimulators, the maximization or minimization of which serve as criteria for managerial decision-making. The weights of the criteria are identified using the entropy method, which gives objective results comparing to the methods, which use experts’ opinions. The application of the proposed methodological approach is carried out in the article on the example of 43 enterprises. The obtained indicator of relative proximity to the ideal object allowed ranking the researched enterprises. The best and the worst alternative of electricity suppliers are identified, which could be used in the process managerial decision-making.

Complexity and Control

2018 ◽  
pp. 97-129
Keyword(s):  
Decision Making ◽  
Strategic Planning ◽  
Traditional Approach ◽  
Strategic Decisions ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Strategic Objectives ◽  
Planning Cycle ◽  
And Control ◽  
Selection Of

The aim of this chapter is to illustrate forecasting, planning, and budgeting as managerial activities involving decisions on a deliberate set of future actions aimed at pursuing strategic objectives. The chapter starts by emphasizing the importance of complexity in managerial decision-making and its implications on predicting future. The discussion then moves to forecasting, highlighting forecasting process, main methods, goals, and the selection of the techniques. Next, the chapter focuses on planning, depicting the traditional approach to strategic planning cycle, its role in firms, main limitations, and alternative frameworks developed to support strategic decisions under uncertainty. Finally, budgeting is considered, describing the steps involved in the preparation of the master budget, main criticisms, and discussing the use of budgets in uncertain contexts.

Understanding the Legacy of Herbert Simon to Decision Support Systems

2011 ◽  
pp. 930-938
Author(s):  
Jean-Charles Pomerol ◽  
Frédéric Adam
Keyword(s):  
Artificial Intelligence ◽  
Decision Making ◽  
Decision Support ◽  
Management Practice ◽  
Herbert Simon ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
The World ◽  
New Ideas ◽  
Contemporary Author

Herbert Simon is unique in our discipline in terms of the far-reaching impact which his work has had on management and the understanding of managerial decision making, especially when his further work with James March is considered. Mintzberg himself, who considerably advanced our ideas on management practice, noted that he always considered Simon to be the most influential and important contemporary author in terms of organizational theory (1990, p. 94). Jared Cohon, president of Carnegie Mellon University, where Simon was a fixture for 52 years said “few if any scientists and scholars around the world have had as great an influence as had Simon across so many fields, economics, computer science, psychology, and artificial intelligence amongst them.” Indeed, Herbert Simon’s contribution to management and DSS is such that the science and practice of management and decision making has been durably changed under his influence. This article considers the new ideas brought by Simon in management theory and looks at his contribution to our understanding of managerial decision making and DSSs.

scholarly journals THE MANAGERIAL DECISION-MAKING MODEL FOR THE MODERNIZATION OF TECHNOLOGIES FOR BUSINESS PROCESSES AT A LARGE INDUSTRIAL ENTERPRISE

2019 ◽  
Vol 8 (6) ◽  
Author(s):  
Anton N. Karamyshev
Keyword(s):  
Decision Making ◽  
Business Process ◽  
Business Processes ◽  
Economic Effect ◽  
Machine Building ◽  
Industrial Enterprise ◽  
Managerial Decision ◽  
Management Tools ◽  
Managerial Decision Making ◽  
The Cost

Existing technologies for substantiating the modernization of basic business processes make it relatively easy to calculate the economic effect of its implementation (by saving resources, reducing labor intensity, increasing both labor productivity and production volumes) because all calculations are based primarily on linear relationships. The rationale for the modernization of auxiliary business processes is more problematic since their specific features significantly complicate the calculation of the economic effect. Firstly, there is a lack of information about the technologies for supporting auxiliary business processes. Secondly, the existing management tools do not consider the complex and closed nature of economic relations between supporting business processes. Thirdly, the complexity of assessing the quality of products of auxiliary business processes and their impact on the main business processes. In order to provide an opportunity to justify business process modernization projects, the author has developed a model that evaluates the effectiveness of a managerial decision on modernization based on changes in the total profit of the enterprise, which differs from the existing ones taking into account the cyclical nature of economic relationships between auxiliary business processes. The developed model for managerial decision-making for the modernization of business process technologies at a large industrial enterprise is based on the author’s method of calculating the cost of production of a large machine-building enterprise, taking into account the principle of multi-cyclical distribution of the cost of auxiliary business processes

scholarly journals TEACHING MANAGERIAL DECISION-MAKING IN THE PROCESS OF EDUCATION MANAGERS TRAINING DURING THE MASTER’S COURSE

2020 ◽  
Vol 224 ◽  
pp. 41-48
Author(s):  
L.A. Shipilina ◽  
Keyword(s):  
Decision Making ◽  
Teaching Experience ◽  
Educational Systems ◽  
Decision Making Process ◽  
Case Study Method ◽  
Managerial Decision ◽  
Management Activity ◽  
Managerial Decision Making ◽  
Education Managers

Professionalism of management in the area of education is one of the conditions that ensures quality of education. Decision-making is the sort of quintessence of management activity that has a direct impact on the operation and development of educational systems. Studying of the teaching experience of education managers training at a number of higher educational institutions in the Siberian region resulted in the necessity of considering the problem of rationalizing and developing the specialized program of teaching the decision-making process. The aim of the research is to rationalize, develop and prove experimentally the effectiveness of the program of teaching managerial decision-making for education managers during the Master’s course while using studies of the factors that have an impact on the efficiency of managerial decision-making. During the research, statistical data about the influence of objective and subjective factors on the efficiency of education managers’ decisions made by them in the course of managing educational systems have been received. The concept of the author’s program of teaching education managers how to make managerial decisions ensures their mastering necessary skills as a process of development of the innovative culture. The content of the program allows to design the decision-making process as a specific kind of management activity. The methodical aspect of the program is aimed at using the case-study method in the process of teaching. The method provides optimal decision-making by its functionality. The research represents the experience of teaching the managerial decision-making process during the Master’s course at Omsk State Pedagogical University and the experimental data that prove the effectiveness of the developed program. The realization of the teaching program of managerial decision-making in the process of education managers training during the Master’s course ensures developing the appropriate competence through mastering skills of strategy development, skills of analyzing the situation and taking into account its dynamics, skills of step-by-step implementation of decision-making procedure on the basis of comprehensive and qualitative information. Teaching managerial decision-making using the case-study method helps to decrease the role of subjective factors of the negative kind.

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