scholarly journals New decision systems in the VUCA world

2020 ◽  
Vol 15 (2) ◽  
pp. 236-254
Author(s):  
Mihaela Minciu ◽  
Florin-Aurel Berar ◽  
Razvan Catalin Dobrea
Keyword(s):  
Decision Making ◽  
Statistical Processing ◽  
Daily Basis ◽  
Business Environment ◽  
Online Questionnaire ◽  
Decision Systems ◽  
Managerial Decisions ◽  
Decision Making Processes ◽  
Multiple Challenges ◽  
Financial Balance

AbstractIn a turbulent economic environment, marked by multiple challenges and changes at every step, organizations must adapt their management system, in order to maintain or even increase their productivity, as well as their competitive advantage. All the activities carried out within an organization are based on a series of managerial decisions, dependent on each other, by which the objectives and the modalities of action are determined, ensuring the economic-financial balance. Frequently, the activities carried out within an organization are changing, as the circumstances and characteristics of the business environment increasingly suffers transformations, thus it is necessary that the decision-making processes be updated. Therefore, the employees of the companies must be prepared to organize their activity in a volatile, uncertain, complex and ambiguous world - the VUCA world. Above the decision environment, are manifested a series of indirect and direct influences (interdependent variables, constraints and limit situations) that affect the result of the decisions adopted within the different levels of management in organizations. Thus, the present paper aims to determine and investigate the factors that influence the characteristics of the decision situations, regardless of the type of decisions adopted within an organization. The present study consists in analyzing the results obtained after applying an online questionnaire to researchers from Doctoral Schools and students of Project Management, from the Bucharest University of Economic Studies, who work in different areas of activity. After the statistical processing of the results obtained regarding the decision systems in the VUCA world, this paper aims to highlight the most important changes that occur in decision-making processes representing a key element for organizations in which managers have to make decisions on a daily basis, in order to ensure the economic performance, despite all the disruptions that occur.

scholarly journals INSTRUMENTS SPECIFIC TO THE PROCESS OF SUBSTANTIATING MANAGERIAL DECISIONS AT THE ORGANIZATION’S LEVEL

2019 ◽  
Vol 2 (2) ◽  
pp. 194-209
Author(s):  
Camelia Cătălina Mihalciuc ◽  
Grosu Maria
Keyword(s):  
Decision Making ◽  
Real Time ◽  
Balanced Scorecard ◽  
Business Environment ◽  
The Other ◽  
Decision Table ◽  
Managerial Decisions ◽  
Other Hand ◽  
Decision Making Processes ◽  
Synthetic View

The main objective of this paper is first to analyze those instruments that have proven to be useful in time and have the merit of being able to be used in the decision-making processes of all types of organizations such as the tree decision-making or decision table and on the other hand, another important aspect is the presentation of the organization’s integrated piloting tools such as scoreboard and balanced scorecard, tools that allow managers to dispose, in real time, of a synthetic view of the main indicators of the organization and the business environment for taking decisions under their competence.

scholarly journals An analysis of systemic thinking in decision-making processes in the municipalities within the province of KwaZulu-Natal

2015 ◽  
Vol 4 (4) ◽  
pp. 531-547
Author(s):  
Mbuyiseni Goodlife Ntuli ◽  
Lawrence Mpela Lekhanya
Keyword(s):  
Decision Making ◽  
Process Model ◽  
Business Environment ◽  
Rational Decision ◽  
Systemic Thinking ◽  
Rational Decision Making ◽  
Theoretical Perspectives ◽  
Kwazulu Natal ◽  
Decision Making Processes ◽  
Decision Making Model

This paper advocates the adoption of systemic thinking in decision-making processes in municipalities. Most importantly, in this epoch of managing in complex and thought-provoking business environment, decision making is one of the most important skills required by any manager to remain effective. The success of a municipality or any business hinges on how well decisions are taken and implemented. In this paper, I intend to scrutinize decision making processes at strategic management levels in the municipalities within the province of KwaZulu-Natal. In doing that, a mixed method approach of qualitative and quantitative techniques was adopted in gathering data from sixty-one municipalities within the province of KwaZulu-Natal. This was done in order to substantiate theoretical perspectives from different erudite scholars on the discourse of systemic thinking in decision making processes. This notion of systemic thinking is coined upon the universally used rational decision making process model. Thus, the conceptualization of rational decision-making model was also considered in this paper, the possibility of decision failure, the complexity of the municipality, and systemic thinking as the recommended option of dealing with complexity was explored. The results indicates that the theory that underpins the adoption of systemic thinking in dealing with complexity today’s business environment is relevant.

Electronic Collaboration in Strategic Decision-Making Processes

2014 ◽  
pp. 601-623
Author(s):  
Aslı Goksoy ◽  
Ozalp Vayvay ◽  
Beliz Ozsoy Yılmaz ◽  
Ahmet Yılmaz
Keyword(s):  
Decision Making ◽  
Business Environment ◽  
Strategic Decision ◽  
Successful Implementation ◽  
Strategy Formulation ◽  
Electronic Communications ◽  
Use Of Technology ◽  
Electronic Collaboration ◽  
Information And Communication ◽  
Decision Making Processes

The pace of change in information and communication technology has accelerated rapidly in the past decade, providing various opportunities for companies to improve their efficiency and competitiveness and also collaborate with their business partners. In the digitally connected 21st century business environment, collaboration among organizations requires electronic communications within and across fields to facilitate superior outcomes. The proper use of technology enables businesses to be more efficient. E-collaboration has been a great tool to improve business and a strategic weapon to change the traditional business relationships. E-collaboration aims to facilitate coordination of decision-making processes, and it is no longer a source of competitive advantage, but instead a competitive necessity. Tightly linking information technology with strategy formulation is one of growing importance in organizations. This chapter aims to explore the role and benefits of technology in decision-making processes by presenting a successful implementation of electronic collaboration in a leading global supplier of electronics and electrical materials and provide useful information to managers and practitioners.

Evacuation Planning and Spatial Decision Making

2011 ◽  
pp. 358-373 ◽  
Author(s):  
F. N. de Silva ◽  
R. W. Eglese ◽  
M. Pidd
Keyword(s):  
Decision Making ◽  
Technology Development ◽  
Emergency Planning ◽  
Evacuation Planning ◽  
Prototype System ◽  
Gis Technology ◽  
Decision Systems ◽  
Spatial Decision Making ◽  
Decision Making Processes ◽  
Evacuee Behavior

Issues concerning the development of Spatial Decision Systems for evacuation planning include realistic modelling of evacuee behavior, decision-making processes that take place during an evacuation, logistics, generating realistic scenarios, validation, technology development and trends for the future. These issues are discussed with reference to the development of a prototype system called CEMPS, which integrates simulation and GIS technology for emergency planning.

Entrepreneurial decision-making: new conceptual perspectives

2019 ◽  
Vol 58 (7) ◽  
pp. 1283-1300 ◽  
Author(s):  
Kaylee De Winnaar ◽  
Frances Scholtz
Keyword(s):  
Decision Making ◽  
Business Environment ◽  
Theory And Practice ◽  
Future Research ◽  
Conceptual Approach ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Perspectives ◽  
Decision Making Processes ◽  
Entrepreneurial Decision

Purpose The purpose of this paper is to call for inclusion of alternative but complementary conceptual perspectives in entrepreneurial decision-making theory and practice. Design/methodology/approach A conceptual approach, drawing on two sets of theoretical perspectives relating to decision making of entrepreneurs, is adopted. Findings The paper presents a conceptual framework of entrepreneurial decision making utilising the intersection between a metacognitive model of the entrepreneurial mindset and the recognition-primed decision-making theory. The paper argues that the convergence of these theoretical viewpoints provides a selection of decision-making processes for entrepreneurs in an uncertain business environment. Practical implications Decision-making models and tools are available to entrepreneurs; however, the relevance and applicability are restrained by the complexity and uncertainty of business environments in which entrepreneurs operate. New and more inclusive conceptual perspectives are required to improve the accuracy of decision making. Originality/value The study offers a framework that integrates two diverse theoretical dimensions of entrepreneurial decision making. The findings of this study provide direction for practice and for future research on entrepreneurial decision making. The paper intends to encourage researchers to support a new combined theoretical approach and to help practitioners better understand the reasons for entrepreneurial decision failure.

The “Evils” of Traditional Cost Accounting (DRAFT)

2018 ◽  
Author(s):  
Boaz Ronen ◽  
Joseph S Pliskin ◽  
Shimeon Pass
Keyword(s):  
Decision Making ◽  
Cost Accounting ◽  
Business Environment ◽  
Service Organizations ◽  
Cost Structures ◽  
Business Opportunities ◽  
Modern Business ◽  
Decision Making Processes ◽  
The One ◽  
The Cost

Traditional cost accounting lost its relevance, and those who use it for decision-making may cause damages to their organizations. Traditional cost accounting is no longer valid because of the changes in healthcare cost structures and changes in the competitive environment. The chapter shows that the assumptions of traditional cost accounting that were valid at the beginning of the 20th century are no longer valid for analyzing costs of healthcare service organizations. Reliance on the cost of the product or the cost of the service may lead to the loss of business opportunities on the one hand and interference in the decision-making processes on the other hand. Chapter 16 will present alternatives for traditional cost accounting that are appropriate for healthcare organization in the modern business environment.

Capturing Tacit Knowledge within Business Simulation Games

2012 ◽  
pp. 478-490
Author(s):  
Meira Levy ◽  
Nava Pliskin
Keyword(s):  
Decision Making ◽  
Tacit Knowledge ◽  
Online Communication ◽  
Business Environment ◽  
Business Simulation ◽  
Simulation Games ◽  
Decision Making Processes ◽  
The One ◽  
Knowledge Management Capabilities ◽  
Management Capabilities

Knowledge, in particular the tacit knowledge embedded in people and groups, is considered a strategic organizational asset. Many organizations harness knowledge to increase the quality of decision-making processes, especially in the current complex global business environment. Many organizations also harness business simulation games to support learning aimed at improving decision-making processes. Given the importance of knowledge, on the one hand, and of simulation games, on the other, this chapter presents a conceptual model for embedding knowledge management capabilities, including Web 2.0 applications, within simulation games environments for the purpose of improving the learning outcomes with regard to capturing tacit knowledge as well as to developing online communication skills.

A Chronicle of Event Postponement and Reorganization Coming Back Stronger (Danai Varveri and Vassilios Ziakas)

2021 ◽  
Author(s):  
Danai Varveri ◽  
Vassilios Ziakas
Keyword(s):  
Decision Making ◽  
Financial Crisis ◽  
Local Development ◽  
Business Environment ◽  
Crisis Preparedness ◽  
2008 Financial Crisis ◽  
Adverse Conditions ◽  
Cultural Festivals ◽  
Decision Making Processes ◽  
The 2008 Financial Crisis

Since the start of the COVID-19 pandemic, the global event industry has been deeply affected. In Greece, the scale of the coronavirus crisis brings back memories of the 2008 financial crisis; both are crises that reshaped society in lasting ways. The 2008 financial crisis showed that the event industry in Greece can survive adverse conditions. In the following years, although Greece has been under strict austerity measures and economic hardship, the Greek calendar continued to feature a range of cultural festivals and events, especially during the summer months of the peak tourism season. Music and dance festivals are a mainstay of the creative event industry in Greece, because they not only enhance local development and tourism but also contribute to artistic expression and the utilization of cultural capital. The COVID-19 pandemic crisis has put at risk most events around the globe. According to chaos theory, the principle of ‘butterfly effect’ explains how small incidents may cause large effects to broader systems; in this manner alike the COVID-19 outbreak has plunged the global into a serious pandemic crisis. In the event industry, strict social distancing and restrictions to minimize the spread of coronavirus have set new norms in socializing and celebrating. Concerns about safety in gatherings have led to cancelling or reshaping events. The Greek government imposed consecutive lockdowns that paralyzed the already dismal social and business environment from a 10-year economic depression. Local or national lockdowns limit the range of managerial responses in event planning and make it more difficult for any level of crisis preparedness to be achieved. Thus, major uncertainties have arisen about the future and survival of events in Greece. How are event organizers responding to the crisis and adapting to the new conditions? What decision-making processes do they employ to deal with the consequences of the crisis? The purpose of this chapter is to throw light on the empirical decision-making of event managers to re-organize the National Ballet Competition of Greece as a virtual event. This experience is discussed alongside pertinent literature to highlight major issues and responses.

Strategic Empowerment in Human Resource Management

2021 ◽  
Author(s):  
M. Taner Albayrak ◽  
Alper Ertürk
Keyword(s):  
Decision Making ◽  
Leadership Development ◽  
Information And Communication Technologies ◽  
Turnover Intentions ◽  
Business Environment ◽  
The Other ◽  
Delegation Of Authority ◽  
Other Hand ◽  
Personal Empowerment ◽  
Decision Making Processes

Empowerment is considered one of the best managerial approaches to foster employees’ effectiveness, creativity, commitment, performance, and other positive work-related attitudes and behaviors while providing an essential tool for leadership development and succession planning. Empowerment involves delegation of authority, sharing of information and resources, and allowing employees to participate in decision-making processes. Empowerment practices result in positive outcomes through psychological empowerment, which comprises meaning, impact, self-determination, and competence. However, empowerment should be exercised with care, and before doing so, leaders should understand their employees’ competences, willingness, and characteristics, as well as the organizational culture and industrial dynamics. With the increasing use of information and communication technologies, inevitable influence of globalization, and continuously changing dynamics of interconnectedness among industries, the business environment has become more volatile, uncertain, complex, and ambiguous (VUCA). In order to survive in this environment, companies try to increase diversity in their workforce to make the best use of a broad variety of skills, experiences, and opinions, thus boosting creativity and innovativeness, which makes leadership more difficult than ever. With empowerment, the concept of delegation of power is important. Therefore, comparing the concept of personal empowerment with managerial empowerment helps in understanding that these concepts are different, although interconnected. Delegation of authority ensures that the manager transfers decision-making authority to subordinates under certain conditions. In delegation, authority is retained by the manager, who has the ultimate responsibility. On the other hand, in empowerment, authority is fully transferred to the person who is already doing the job, with all the rights and responsibilities to take the initiative as necessary. Empowerment is also closely related but different from the concept of motivation. In motivation, decision-making authority and control stays with the manager. Empowerment, on the other hand, gives employees the opportunity to participate in management, solve problems, and participate in decision-making processes. In this context, the concepts of delegation of authority, motivation, participation in management, and job enrichment are the domain dimensions of personal empowerment, and thus they are interrelated, yet different. It is important to create a common vision and to have common values in order to establish the empowerment process. Subordinates and supervisors need to trust each other, and empowerment needs to be seen as a philosophy, not a technique. It is necessary to create business conditions that enable the development of knowledge and skills in personnel empowerment. These conditions affect the perceptions and attitudes of the staff, such as, support, loyalty, identification, and trust. Empowering employees promotes organizational commitment, increases engagement, and reduces turnover intentions of key personnel. Because empowerment involves encouraging participation of subordinates in the decision-making process, it also helps to enhance the effectiveness of the decisions and reduce decision-making time. In the VUCA world, limited decision making could be a critical obstacle to establish and maintain sustainability in highly competitive business environments.

scholarly journals BUSINESS INTELLIGENCE SYSTEMS SUPPORTING SUSTAINABILITY ON FIRM’S DECISION-MAKING PROCESSES AND PERFORMANCE

2021 ◽  
Vol 8 (1) ◽  
pp. 64-75
Author(s):  
Nathaniel Ozigbo ◽  
Keyword(s):  
Decision Making ◽  
Firm Performance ◽  
Business Intelligence ◽  
Business Environment ◽  
Partial Least Square ◽  
Theory And Practice ◽  
Business Intelligence Systems ◽  
Decision Making Processes ◽  
And Performance ◽  
The Impact

In today’s competitive business environment, there exist the need to investigate the adequacy of infrastructural flexibility for Business Intelligence Systems to support Sustainability on Firm’s Decision-making processes and performance. The Business Intelligence Systems consist of unique functions that are intrinsic aimed at supporting better quality decision-making within the organization. It is critical to the smooth operations of every organization. The intention of this study is not to discuss the technical details of implementing Business Intelligence Systems but to explore how to gain maximum benefits from the applications and usage of Business Intelligence Systems. An intensive literature review that highlighted the impact of Business Intelligence on firm performance and decision-making processes were initiated. The focus was on how to apply the Business Intelligence Systems to gain competitive advantage and to create more value from information by aligning it with the needs of employees who are engaged in complex business decision-making in today’s business environment. The study contributed in both academic and industrial operations by providing first time evidence of Business Intelligence solutions with particular reference to Nigerian firms located in Lagos State, Nigeria. The study employed the partial least square analysis with a sample size of 985 respondents randomly selected from five manufacturing companies. The findings suggested that the more effective use of Business Intelligence implementation, the more effective the decision-making processes and firm performance. The study offers a number of implications for theory and practice, noting that Business Intelligence System is in effect allowing firms to shift their structure to more carefully and thoughtfully align with the needs of customers and partners.

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