scholarly journals The Influence of the Time Factor on Managerial Decision Making

2020 ◽  
pp. 47-50
Author(s):  
Ksenia Valerievna Gorokhova
Keyword(s):  
Decision Making ◽  
Economic Efficiency ◽  
Time Management ◽  
Time Factor ◽  
Situational Factors ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Time Discounting ◽  
Spheres Of Influence ◽  
Condi Tions

The paper deals with the time factor and its influ-ence on managerial decision making in organiza-tions. The technology of a set of situational factors of the company is proposed to determine the spheres of influence of the time factor on manageri-al decision making. The points of intersection of the time factor with management decisions, which are divided into internal and external by the influence exerted, are considered. Then the author refers them to accounting and regulation within operational and strategic management. The phenomenon of time discounting and its impact on management deci-sions are explained. Ways to improve the methodol-ogy of time management system for use in condi-tions of lack of time are presented. A method is pro-posed for calculating the economic efficiency of an enterprise, taking into account the time factor.

scholarly journals Methodological Tools of Management Decision Making on Supporting Regional Environmental Projects

2020 ◽  
pp. 166-176
Author(s):  
Irina Anikina ◽  
◽  
Andrey Anikin ◽  
Keyword(s):  
Decision Making ◽  
Economic Efficiency ◽  
Financial Management ◽  
Investment Decisions ◽  
Theory And Practice ◽  
Assessment Procedure ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Environmental Projects ◽  
The Impact

The purpose of the study was to develop a methodological toolkit for the substantiation of investment decisions on supporting regional environmental projects by state and private investors. The problem lies in the fact that traditional indicators of the efficiency of investment projects, such as net present value, budgetary efficiency, currently do not sufficiently meet the principles of sustainable economy, which underlie modern methodology for managerial decision making. The study of the opinions of investors shows their increasing willingness to take into account, when making investment decisions and decisions on financing projects, not only the economic efficiency, but also the impact of the results of companies’ activities on the environment and human health. At the same time, the question of how to take into account ESG factors (environment, social, governance) in the assessment of investment decisions remains controversial. The authors suggest a methodology that will contribute to the justification of management decisions regarding the support and stimulation of investment eco-projects. The method assumes a sequential passage of stages, at each stage the projects undergo an assessment procedure for compliance with the criteria that take into account the interests of various project stakeholders (government, investors, society) and the calculation of ratings: the rating of ESG factors and the rating of economic efficiency of eco-projects. The authors have also developed a matrix for managerial decision making to support an investment eco-project based on the analysis of the ratings obtained. The proposed conceptual approaches and models make it possible to clarify the methodological tools for effectiveness assessment of eco-projects, contribute to the improvement of the theory and practice of financial management, harmonization of ESG principles and investment management, adequate to the conditions of the concept of sustainable economic growth.

scholarly journals Measuring Managerial Decision-Making: The DMQ Methodology

2017 ◽  
Vol 1 (1) ◽  
pp. 27
Author(s):  
Miroslav Frankovsky ◽  
Zuzana Birknerova ◽  
Lucia Zbihlejova ◽  
Ladislav Suhanyi
Keyword(s):  
Decision Making ◽  
Factor Analysis ◽  
Personality Traits ◽  
Two Dimensions ◽  
Situational Factors ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Collective Decisions ◽  
Decision Making Styles

Decision-making plays an important role in management as managers´ decisions have a multiplicative impact in various areas of organization. However, managerial decision-making is influenced by a number of personality and situational factors. The contribution thus presents the results of verification of a new, original methodology Decision-Making Questionnaire (DMQ), proposed on the basis of the Vroom-Yetton model of decision-making (Fotr et al. 2006). From the methodological viewpoint, DMQ is based on the dispositional, trans-situational approach to studying personality traits. The factor analysis enabled extraction of four factors explaining 47% of variance. These factors represent four decision-making styles defined by two dimensions (own information – acquired information, I make my own decisions – I make collective decisions with others). 

scholarly journals Application of the theory of decision making under risk and uncertainty at modelling of costs

2010 ◽  
Vol 56 (No. 5) ◽  
pp. 201-208 ◽  
Author(s):  
M. Beranová ◽  
D. Martinovičová
Keyword(s):  
Decision Making ◽  
Financial Accounting ◽  
Cost Functions ◽  
Risk And Uncertainty ◽  
Managerial Decision ◽  
Managerial Decision Making ◽  
Bayesian Theorem ◽  
Long Run ◽  
Short Run ◽  
The Cost

The costs functions are mentioned mostly in the relation to the Break-even Analysis where they are presented in the linear form. But there exist several different types and forms of cost functions. Fist of all, it is necessary to distinguish between the short-run and long-run cost function that are both very important tools of the managerial decision making even if each one is used on a different level of management. Also several methods of estimation of the cost function's parameters are elaborated in the literature. But all these methods are based on the past data taken from the financial accounting while the financial accounting is not able to separate the fixed and variable costs and it is also strongly adjusted to taxation in the many companies. As a tool of the managerial decision making support, the cost functions should provide a vision to the future where many factors of risk and uncertainty influence economic results. Consequently, these random factors should be considered in the construction of cost functions, especially in the long-run. In order to quantify the influences of these risks and uncertainties, the authors submit the application of the Bayesian Theorem.

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