scholarly journals Business Decision Making

10.28945/2368 ◽  
2001 ◽  
Author(s):  
Rimvydas Skyrius
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Decision Makers ◽  
Problem Situation ◽  
Business Decision ◽  
Factors Influencing ◽  
Support Tools ◽  
New Knowledge ◽  
Role Of Information

Significant recent research in the decision support area has been concentrating on the human side of the person-technology relation. Knowledge, perceptions, beliefs and experiences have been researched in a number of works. The author has used individual interviews with business decision makers to find out their attitudes towards factors influencing the quality of business decisions. The issues discussed included features of actual right and wrong decisions, role of information sources and analytical tools, factors influencing creativity, and the role of information technology. The findings have shown that in the decision making process, available knowledge is used and new knowledge is created, and these processes are preferred to be supported by simple yet efficient support tools. The information environment surrounding business activities is getting increasingly complex. The important reasons for this complexity are: growing volumes of information of potential relevance to certain business activities; increasing number of sources of such information; and multiplying technologies for handling data and information. This is particularly true for decision making which has to encompass all relevant data, information and decision maker's knowledge to make quality decisions. Alongside with technologies for handling data and information, lately much attention has been given to knowledge management (KM) models and relations between data, information and knowledge. In knowledge-intensive activities, such as decision support, these relationships are important in terms of efficient utilisation of information resources, and especially those supported and facilitated by IT with its present capabilities. The aim of this paper is to take a look at the relations between data, information and knowledge in the context of managerial decision making, and professional learning and experience. These issues are discussed on the basis of surveys and interviews, conducted among small and medium enterprise (SME) decision makers in Lithuania in 1997-1999. The key questions of the survey have been: how important IT has become for management activities, regarding in the first place decision support, and how does it affect creativity and knowledge development. The synergy between technology and the user has been recognized to work in the areas such as using existing experiences and creating new ones on a problem and decision; working out the decision schema; stimulating creativity; capturing the details and specifics of the decision process for further uses. While IT is and can be efficiently used to manage data and information, the actual use of what is in decision support environment sometimes called stored knowledge - preprogrammed procedures for certain types of situations, sets of models, reusable queries - is rather limited. Instead, the survey has shown that decision makers prefer relatively simple tools and techniques that allow them to perform iterative buildup of decision support points towards a sufficient set to make a decision. Under a problem situation, existing practices are repeatedly tested. In the process, new associations and mental models may appear, expanding existing knowledge as well as creating new knowledge. The responses have shown that the presence of simple yet efficient decision support tools is welcome by the decision makers as having a potential to gain more with less - to provide more confidence and insurance from fatal decision mistakes, at the same time reducing the need to do extensive training, radically change existing beliefs or invest heavily into sophisticated technologies. In addition, such tools serve as support for managerial learning process and knowledge exchange, especially in the process of creativity stimulation where analogies, real-life and hypothetical situations, brainstorming and bias elimination techniques are used.

The role of depression pharmacogenetic decision support tools in shared decision making

2017 ◽  
Vol 126 (1) ◽  
pp. 87-94 ◽  
Author(s):  
Katarina Arandjelovic ◽  
Harris A. Eyre ◽  
Eric Lenze ◽  
Ajeet B. Singh ◽  
Michael Berk ◽  
...  
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Shared Decision Making ◽  
Decision Support Tools ◽  
Shared Decision ◽  
Support Tools

scholarly journals The Role of Information in Strategic Planning and Decision Making: Overview on Economic Organizations in Oman

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Khalfan Zahran AlHijji ◽  
Nabhan Harith AlHarrasi ◽  
Huda Salem Alissaee
Keyword(s):  
Decision Making ◽  
Strategic Planning ◽  
Decision Makers ◽  
Final Decision ◽  
Strategic Decisions ◽  
Future Aspirations ◽  
Economic Organizations ◽  
Depth Interviews ◽  
Role Of Information

This study aims to investigate the issue of the role of information in strategic planning and decision making in Omani economic organizations. It also attempts to understand the process and the importance of information in decision making. A qualitative method was applied to achieve the study objectives. Thirty participants from eleven organizations were selected for in-depth interviews. Nineteen of the participants are general directors, seven are directors, while the rest are advisors at their organizations. All interviews were analyzed by using thematic analysis. The results show that Omani government economic organizations usually take two types of decisions: technical routine decisions that are regularly made by managers and other decision makers and strategic decisions directed toward achieving the future aspirations of the organization. The type of decision is affected by the level of management and time of making the decision. Participants form different economic organizations are agreed that there should be a clear strategy for making and evaluating decisions, starting from gathering and analyzing relevant data and following through to implementation of the final decision.

The Role of Pharmacoinformatics in Enhancing the Pharmacoeconomics Context of Decision Making

2012 ◽  
pp. 44-52
Author(s):  
Maarten J. Postma ◽  
Gijs A. A. Hubben
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Discrete Event ◽  
Efficient Solutions ◽  
Web Technology ◽  
Decision Makers ◽  
New Drugs ◽  
Web Based ◽  
Complex Models

This chapter addresses the increasing role of pharmacoinformatics in enhancing the pharmacoeconomics context of decision-making. Notably, the role of pharmacoeconomics—i.e. cost per QALY calculations—is growing rapidly for decisions on reimbursement of new drugs. These pharmacoeconomic analyses often involve complex mathematical computer models requiring specific informatics techniques such as probabilistic simulations, bootstrapping, and discrete-event approaches. Transparancy of these complex models is crucial for decision makers to accept the model and its results. The authors argue that Web technology, Web-based access to models, international transferability of analyses, and decision-support systems may help in this respect. In particular, to allow decision makers and researchers to directly interact with transferable economic models and adapt a model to their region, efficient solutions have to be found to disseminate technically complex models to decision makers and researchers outside of the original setting. One such solution is through the use of Web technology and other pharmacoinformatics’ techniques as explored in this chapter.

SISTEM PENDUKUNG KEPUTUSAN PEMILIHAN GURU BERPRESTASI KOTA MEDAN MENERAPKAN METODE PREFERENCES SELECTION INDEX (STUDI KASUS : DINAS PENDIDIKAN KOTA MEDAN)

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Fajar Syahputra ◽  
Mesran Mesran ◽  
Ikhwan Lubis ◽  
Agus Perdana Windarto
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Decision Support System ◽  
Support System ◽  
Formal Education ◽  
Basic Education ◽  
Selection Index ◽  
Main Task ◽  
Selection Of

The teacher is a major milestone in the world of education, the ability and achievement of students cannot be separated from the role of a teacher in teaching and guiding students. Based on the Law of the Republic of Indonesia No. 14 of 2005 concerning Teachers and Lecturers, in Article 1 explained that teachers are professional educators with the main task of educating, teaching, guiding, directing, training, evaluating, and evaluating students in early childhood education through formal education, basic education and education medium. Whereas in Article 4 of the Act, it is explained that the position of teachers as professionals serves to enhance the dignity and role of teachers as learning agents to function to improve the quality of national education.Decision making is an election process, among various alternatives that aim to meet one or several targets. The decision-making system has 4 phases, namely intelligence, design, choice and implementation. These phases are the basis for decision making, which ends with a recommendation.The Preferences Selection Index (PSI) method is a rarely used decision support system method. This method is a method developed by stevanie and Bhatt (2010) to solve the Multi Criteria Decision Making (MCDM). With the right consideration, this method can be one of the tools to determine policies in decision-making systems, especially the selection of outstanding teachers. Determination of policies taken as a basis for decision making, must use criteria that can be defined clearly and objectively.Keywords: Decision Support System, PSI, Selection of Achieving Teachers

scholarly journals A Multi-Criteria Decision Support Concept for Selecting the Optimal Contractor

2021 ◽  
Vol 11 (4) ◽  
pp. 1660 ◽  
Author(s):  
Ivan Marović ◽  
Monika Perić ◽  
Tomaš Hanak
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Project Performance ◽  
Decision Makers ◽  
Construction Project Management ◽  
Analytic Hierarchy ◽  
Conflicting Demands ◽  
Decision Making Problem ◽  
Scientific Approach ◽  
Hierarchy Process

A way to minimize uncertainty and achieve the best possible project performance in construction project management can be achieved during the procurement process, which involves selecting an optimal contractor according to “the most economically advantageous tender.” As resources are limited, decision-makers are often pulled apart by conflicting demands coming from various stakeholders. The challenge of addressing them at the same time can be modelled as a multi-criteria decision-making problem. The aim of this paper is to show that the analytic hierarchy process (AHP) together with PROMETHEE could cope with such a problem. As a result of their synergy, a decision support concept for selecting the optimal contractor (DSC-CONT) is proposed that: (a) allows the incorporation of opposing stakeholders’ demands; (b) increases the transparency of decision-making and the consistency of the decision-making process; (c) enhances the legitimacy of the final outcome; and (d) is a scientific approach with great potential for application to similar decision-making problems where sustainable decisions are needed.

scholarly journals Decision support tools to improve cancer diagnostic decision making in primary care: a systematic review

2019 ◽  
Vol 69 (689) ◽  
pp. e809-e818 ◽  
Author(s):  
Sophie Chima ◽  
Jeanette C Reece ◽  
Kristi Milley ◽  
Shakira Milton ◽  
Jennifer G McIntosh ◽  
...  
Keyword(s):  
Systematic Review ◽  
Primary Care ◽  
Decision Making ◽  
Decision Support ◽  
Cost Effectiveness ◽  
Cancer Diagnosis ◽  
Decision Support Tools ◽  
Diagnostic Decision ◽  
Support Tools ◽  
Diagnostic Decision Making

BackgroundThe diagnosis of cancer in primary care is complex and challenging. Electronic clinical decision support tools (eCDSTs) have been proposed as an approach to improve GP decision making, but no systematic review has examined their role in cancer diagnosis.AimTo investigate whether eCDSTs improve diagnostic decision making for cancer in primary care and to determine which elements influence successful implementation.Design and settingA systematic review of relevant studies conducted worldwide and published in English between 1 January 1998 and 31 December 2018.MethodPreferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines were followed. MEDLINE, EMBASE, and the Cochrane Central Register of Controlled Trials were searched, and a consultation of reference lists and citation tracking was carried out. Exclusion criteria included the absence of eCDSTs used in asymptomatic populations, and studies that did not involve support delivered to the GP. The most relevant Joanna Briggs Institute Critical Appraisal Checklists were applied according to study design of the included paper.ResultsOf the nine studies included, three showed improvements in decision making for cancer diagnosis, three demonstrated positive effects on secondary clinical or health service outcomes such as prescribing, quality of referrals, or cost-effectiveness, and one study found a reduction in time to cancer diagnosis. Barriers to implementation included trust, the compatibility of eCDST recommendations with the GP’s role as a gatekeeper, and impact on workflow.ConclusioneCDSTs have the capacity to improve decision making for a cancer diagnosis, but the optimal mode of delivery remains unclear. Although such tools could assist GPs in the future, further well-designed trials of all eCDSTs are needed to determine their cost-effectiveness and the most appropriate implementation methods.

The role of agency in project initiation decisions

2014 ◽  
Vol 7 (3) ◽  
pp. 518-535 ◽  
Author(s):  
Mark Mullaly
Keyword(s):  
Decision Making ◽  
Decision Rules ◽  
Personal Characteristics ◽  
Decision Makers ◽  
Organizational Dynamics ◽  
Substantive Theory ◽  
Content Type ◽  
The Subject ◽  
Board Level

Purpose – The purpose of this paper is to explore the role of decision rules and agency in supporting project initiation decisions, and the influences of agency on decision-making effectiveness. Design/methodology/approach – The study this paper is based upon used grounded theory methodology, and sought to understand the influences of individual decision makers on project initiation decisions within organizations. Data collection involved 28 participants who were involved in project initiation decisions within their organizations, who discussed the process of project initiation in their organization and their role within that process. Findings – The study demonstrates that the overall effectiveness of project initiation decisions is a product of agency, process effectiveness or rule effectiveness. The employment of agency can have a direct influence on decision-making effectiveness, it can compensate for organizational inadequacies of a process or political nature, and it can be constrained in the evidence of formal and effective organizational practices. Research limitations/implications – While agency was recognized by all participants, there are clearly circumstances where actors perceive the ability to exercise agency to be externally constrained. The study is exploratory, contributing to the development of substantive theory. Theory testing as well as a more in-depth investigation of the underlying drivers of agency would be valuable. Practical implications – The study provides executives and individuals supporting the initiation of projects with insights on how to effectively influence the effectiveness of project initiation decisions, and the degree to which personal characteristics influence organizational dynamics. Originality/value – Most discussions of agency has been framed the subject as an executive- or board-level phenomenon. The current study demonstrates that agency is in fact being perceived and operationalized at all levels. Those demonstrating agency in the majority of instances in this study do so in exercising stewardship behaviours. This has important implications for how agency is perceived by executives, and by how agency is exercised by actors at all levels of the organization.

The Role of Expectations in Business Decision Making

1958 ◽  
Vol 3 (3) ◽  
pp. 307 ◽  
Author(s):  
R. M. Cyert ◽  
W. R. Dill ◽  
J. G. March
Keyword(s):  
Decision Making ◽  
Business Decision

NBIC-TECHNOLOGIES FOR A DIGITAL ECONOMY

2021 ◽  
Author(s):  
О.Н. МАСЛОВ
Keyword(s):  
Decision Support ◽  
Decision Support Systems ◽  
Simulation Modeling ◽  
Information Technologies ◽  
Business Processes ◽  
Digital Economy ◽  
Biological Information ◽  
Role Of Information ◽  
New Formation

Дается обоснование необходимости ускоренного внедрения NBIC-технологий (нанотехнологии, информацион -ные, биологические и когнитивные технологии) в отечественное производство на стадии его перехода к цифровой экономике. Рассматривается проблема формирования системы генерации и реализации инновационных знаний; показана ключевая роль информационных технологий (реинжиниринг бизнес-процессов, имитационное моделирование, системы поддержки реше -ний и др.). Отмечена важность подготовки кадров новой формации, способных использовать достижения NBIC-технологий в интересах современного производства. The paper discusses the need for accelerated implementation of NBIC-technologies (according to the first letters of their names: nanotechnology, biological, information, and cognitive technologies) in domestic production at the stage of its transition to the digital economy. The problem of forming a system for generating and implementing innovative knowledge is considered. The key role of information technologies (business processes reengineering, simulation modeling, decision support systems, etc.) in its solution is shown. The importance of training personnel of a new formation, capable of using the achievements of NBIC-technologies in the interests of modern production, is noted.

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