scholarly journals Decision making in the financial management of the business enterprise

2013 ◽  
Vol 5 (2) ◽  
pp. 63-71
Author(s):  
Ernesto León Castro ◽  
Marcela Rebeca
Keyword(s):  
Decision Making ◽  
Financial Management ◽  
Quality Information ◽  
Business Enterprise ◽  
The Right

Abstract The globalization within markets has required continuous decision making by employers, so that processes and ways to implement them have become more complex, requiring more quality information on the operations of the company enabling them to make the right decisions

Awareness and Decision Making in Professional Ethics

2000 ◽  
Vol 5 (1) ◽  
pp. 19-27 ◽  
Author(s):  
Ronny Swain
Keyword(s):  
Decision Making ◽  
Professional Ethics ◽  
Ethical Decision Making ◽  
Code Of Ethics ◽  
Professional Autonomy ◽  
Ethical Awareness ◽  
Ethical Decisions ◽  
The Right ◽  
Aid Decision

The paper describes the development of the 1998 revision of the Psychological Society of Ireland's Code of Professional Ethics. The Code incorporates the European Meta-Code of Ethics and an ethical decision-making procedure borrowed from the Canadian Psychological Association. An example using the procedure is presented. To aid decision making, a classification of different kinds of stakeholder (i.e., interested party) affected by ethical decisions is offered. The author contends (1) that psychologists should assert the right, which is an important aspect of professional autonomy, to make discretionary judgments, (2) that to be justified in doing so they need to educate themselves in sound and deliberative judgment, and (3) that the process is facilitated by a code such as the Irish one, which emphasizes ethical awareness and decision making. The need for awareness and judgment is underlined by the variability in the ethical codes of different organizations and different European states: in such a context, codes should be used as broad yardsticks, rather than precise templates.

Paradigma Pembangunan Desa dalam Pengelolaan Keuangan Desa Berdasarkan Undang-Undang Nomor 6 Tahun 2014 Tentang Desa

2020 ◽  
Vol 3 (2) ◽  
pp. 117-132
Author(s):  
Betha Rahmasari
Keyword(s):  
Regional Development ◽  
Financial Management ◽  
Sustainable Use ◽  
Economic Potential ◽  
Village Community ◽  
Development Organizations ◽  
The People ◽  
The Government ◽  
The Right ◽  
The Village

This article aims to find out the developmentidea or paradigm through village financial management based on Law Number 6 of 2014 concerning Villages. In this study, the researcher used a normative research methodby examining the village regulations in depth. Primary legal materials are authoritatuve legal materials in the form of laws and regulations. Village dependence is the most obvious violence against village income or financial sources. Various financial assistance from the government has made the village dependent on financial sources from the government. The use of regional development funds is intended to support activities in the management of Regional Development organizations. Therefore, development funds should be managed properly and smoothly, as well as can be used effectively to increase the people economy in the regions. This research shows that the law was made to regulate and support the development of local economic potential as well as the sustainable use of natural resources and the environment, and that the village community has the right to obtain information and monitor the planning and implementation of village development.

Would you Make the Right Decision? – Decision Making Biases in Economy - Related Dilemmas

2018 ◽  
Vol 9 (1) ◽  
pp. 59-66
Author(s):  
Zsuzsanna Gödör ◽  
Georgina Szabó
Keyword(s):  
Decision Making ◽  
Online Survey ◽  
Framing Effect ◽  
Economic Knowledge ◽  
Bank Account ◽  
Financial Decisions ◽  
Hungarian Population ◽  
The Moment ◽  
The Right ◽  
Decision Making Biases

Abstract As they say, money can’t buy happiness. However, the lack of it can make people’s lives much harder. From the moment we open our first bank account, we have to make lots of financial decisions in our life. Should I save some money or should I spend it? Is it a good idea to ask for a loan? How to invest my money? When we make such decisions, unfortunately we sometimes make mistakes, too. In this study, we selected seven common decision making biases - anchoring and adjustment, overconfidence, high optimism, the law of small numbers, framing effect, disposition effect and gambler’s fallacy – and tested them on the Hungarian population via an online survey. In the focus of our study was the question whether the presence of economic knowledge helps people make better decisions? The decision making biases found in literature mostly appeared in the sample as well. It proves that people do apply them when making decisions and in certain cases this could result in serious and costly errors. That’s why it would be absolutely important for people to learn about them, thus increasing their awareness and attention when making decisions. Furthermore, in our research we did find some connection between decisions and the knowledge of economics, people with some knowledge of economics opted for the better solution in bigger proportion

USING REAL OPTIONS IN AN INVESTMENT VALUATION AND DECISION-MAKING PROCESSES

2020 ◽  
Vol 1 (8) ◽  
pp. 43-46
Author(s):  
T. T. ADAMIYA ◽  
Keyword(s):  
Decision Making ◽  
Real Options ◽  
Financial Management ◽  
Significant Risk ◽  
Investment Project ◽  
Market Uncertainty ◽  
Investment Activity ◽  
Traditional Assessment ◽  
Decision Making Processes ◽  
Additional Value

The current stage of global development is characterized by opportunities for investment activity, along with an instability of the economic situation and high uncertainty, dictates the need for investors and managers to make effective decisions, taking into account constantly changing conditions. An investor, while making a decision which project to accept, for the most part, uses the standard methods of financial management as a basis for forecasting and analysis. Considering fast-moving processes of technology change, as well as the conditions of market uncertainty, significant risk and agency problems, the article proposes the use of real options as an insurance (hedging) tool for investors against risks at different stages of the investment project. Risk management can be carried out through real options - the tool of flexibility in decision making. Traditional assessment methods ignore the ability to adapt internal and external changes, however management flexibility can significantly reduce risks, and therefore create additional value.

Parents and educators: Partners working together in an inclusive setting

1993 ◽  
Vol 3 ◽  
pp. 33-49
Author(s):  
Sebastian (Nello) Raciti
Keyword(s):  
Decision Making ◽  
School Level ◽  
Collaborative Consultation ◽  
Local School ◽  
Participatory Decision Making ◽  
Intervention Plan ◽  
Consultation Model ◽  
Working Together ◽  
The Right ◽  
Contextual Setting

Parents have the right to participate in the educational planning for their child with a disability, however they often need assistance when interacting with professionals to ensure the best programs for their children. Professionals also require guidelines and opportunities to develop appropriate communication skills when interacting with other professionals and parents. This paper investigates the level of participatory decision-making which exists between parents and professionals, and professionals amongst themselves. The present thrust for including children with a disability in mainstream schools is used as the contextual setting for this investigation. Furthermore, the author presents an intervention plan based on the Collaborative Consultation Model to enhance the participatory decision-making skills of parents and professionals at the local school level.

scholarly journals Legal and Technical Feasibility of the GDPR’s Quest for Explanation of Algorithmic Decisions: of Black Boxes, White Boxes and Fata Morganas

2020 ◽  
Vol 11 (1) ◽  
pp. 18-50 ◽  
Author(s):  
Maja BRKAN ◽  
Grégory BONNET
Keyword(s):  
Decision Making ◽  
Interdisciplinary Approach ◽  
Practical Implementation ◽  
General Data Protection Regulation ◽  
Legal Limits ◽  
Black Boxes ◽  
General Data ◽  
The Subject ◽  
The Right ◽  
Automated Decision Making

Understanding of the causes and correlations for algorithmic decisions is currently one of the major challenges of computer science, addressed under an umbrella term “explainable AI (XAI)”. Being able to explain an AI-based system may help to make algorithmic decisions more satisfying and acceptable, to better control and update AI-based systems in case of failure, to build more accurate models, and to discover new knowledge directly or indirectly. On the legal side, the question whether the General Data Protection Regulation (GDPR) provides data subjects with the right to explanation in case of automated decision-making has equally been the subject of a heated doctrinal debate. While arguing that the right to explanation in the GDPR should be a result of interpretative analysis of several GDPR provisions jointly, the authors move this debate forward by discussing the technical and legal feasibility of the explanation of algorithmic decisions. Legal limits, in particular the secrecy of algorithms, as well as technical obstacles could potentially obstruct the practical implementation of this right. By adopting an interdisciplinary approach, the authors explore not only whether it is possible to translate the EU legal requirements for an explanation into the actual machine learning decision-making, but also whether those limitations can shape the way the legal right is used in practice.

scholarly journals Skill and strategic control

Synthese ◽  
2021 ◽  
Author(s):  
Ellen Fridland
Keyword(s):  
Decision Making ◽  
Empirical Evidence ◽  
Mental Imagery ◽  
Sports Psychology ◽  
Mental Practice ◽  
Strategic Control ◽  
Cognitive Representations ◽  
Personal Level ◽  
The Right ◽  
Better Than

AbstractThis paper provides an account of the strategic control involved in skilled action. When I discuss strategic control, I have in mind the practical goals, plans, and strategies that skilled agents use in order to specify, structure, and organize their skilled actions, which they have learned through practice. The idea is that skilled agents are better than novices not only at implementing the intentions that they have but also at forming the right intentions. More specifically, skilled agents are able formulate and modify, adjust and adapt their practical intentions in ways that are appropriate, effective, and flexible given their overall goals. Further, to specify the kind of action plans that are involved in strategic control, I’ll rely on empirical evidence concerning mental practice and mental imagery from sports psychology as well as evidence highlighting the systematic differences in the cognitive representations of skills between experts and non-experts. I’ll claim that, together, this evidence suggests that the intentions that structure skilled actions are practical and not theoretical, that is, that they are perceptual and motor and not abstract, amodal, or linguistic. Importantly, despite their grounded nature, these plans are still personal-level, deliberate, rational states. That is, the practical intentions used to specify and structure skilled actions are best conceived of as higher-order, motor-modal structures, which can be manipulated and used by the agent for the purpose of reasoning, deliberation, decision-making and, of course, the actual online structuring and organizing of action.

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