MAKING STRATEGIC MANAGEMENT DECISIONS IN THE DIGITAL ECONOMY

2020 ◽  
Vol 10 (7) ◽  
pp. 1362-1374
Author(s):  
M.S. Faskhutdinova ◽  
◽  
N.B. Larionova ◽  
I.A. Lavrentyeva ◽  
◽  
...  
Keyword(s):  
Decision Making ◽  
Strategic Management ◽  
Business Environment ◽  
Digital Economy ◽  
Strategic Decision ◽  
High Tech ◽  
Decision Making Process ◽  
Management Decisions ◽  
Direct Production ◽  
Wide Range

The article discusses the development of a strategic management solution, which is one of the most important management processes; its efficiency determines the success of the business. The decision-making process is very difficult. There are many different subtleties in it that are well known to professional managers. Therefore, a strategic decision includes a deliberate conclusion concerning the need to take actions, or refrain from them, related to achieving the goals of the organization and overcoming the problems it faces. This is a process of choosing from a variety of alternatives the most preferable one for solving the problem. Each organization wishing to achieve the intended goal will be engaged in the development of strategic management decisions; and in each organization the practice of developing and making these decisions will have its own characteristics, determined by the nature and specifics of its activities, its organizational structure and internal culture. Modern enterprise is distinguished by the scale of activity, its separation from the direct production process or the provision of services. Nevertheless, there is always something in common that is characteristic of any decision-making process. This is what shapes the design and decision-making technology used in any organization. Only in this case it will be possible to obtain and achieve: clearly structured, interrelated and balanced strategic documents; a system of indicators built into logical multi-level structures that correspond to the structure of the development strategy; modeling forecasts using computational models, involving a wide range of specialists; reverse analysis of an unfulfilled or exceeded indicator, including public and professional monitoring of the consequences and violations; details of both available strategy elements and related indicators; simplified integration of an economic asset into a strategy, both for planning and in terms of obtaining feedback on the implementation of adopted programs and projects. Digital technologies are driving global changes in the business environment. The newest digital economy today is constructed on significantly different rules than the traditional economy. Entrepreneurship is forced to develop and adapt in an environment that includes an ever changing environment that stands and adapts the business to dynamically changing conditions at a strategic and tactical level. In the digital economy, its main factors are: data in digital form, their processing and use in large volumes - this is an economic activity that can increase efficiency, quality and efficiency in various types of production, technologies, equipment. It is based on the production of high-tech business structures, electronic products and services, and the sale of these products through e-commerce, which has become and will be possible thanks to applied informatics.

scholarly journals Strategic Thinking: The Role in Successful Management

2017 ◽  
Vol 9 (4) ◽  
pp. 44
Author(s):  
Marcelo Amaral Dionisio
Keyword(s):  
Decision Making ◽  
Strategic Planning ◽  
Strategic Management ◽  
Strategic Thinking ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Decision Making Process ◽  
Business Organizations ◽  
Successful Management ◽  
Strategic Process

Strategic thinking and strategic planning are concepts that are not clearly defined both in the literature and in the practice of business organizations and sometimes they are used interchangeably with each other or with strategic management. The purpose of this text is to differentiate and define both concepts and relate their role with the strategic decision making process of a firm. The text ends by approaching the issue of sustainability as a new challenge in the strategic process.

Experience in developing a methodology for analyzing the decision-making process in the field of digital economy regulation in Russia

2020 ◽  
Vol 12 (4) ◽  
pp. 595-617
Author(s):  
Alexey S. Teteryuk ◽  
◽  
Aleksandr A. Lialikov ◽  
Keyword(s):  
Decision Making ◽  
Russian Federation ◽  
Information Technologies ◽  
Business Environment ◽  
Digital Economy ◽  
Decision Making Process ◽  
National Program ◽  
Managerial Decision ◽  
Development Institutions ◽  
The Russian Federation

Introduction: due to the active development of information technologies and the growth of their application in market relations, the issue of legislative regulation of the rules of interaction between participants in the emerging digital economy in Russia is becoming more and more relevant, as evidenced by the existence of the corresponding federal project within the national program “Digital economy of the Russian Federation”. At the same time, the creation of new regulations has a direct impact on the business environment, which forces companies to take an active part in the discussion of mechanisms for developing and implementing state policies in this area. Objectives: to analyze the decision-making process in the field of digital economy regulation through the proposed comprehensive methodology, which involves the study of formal procedures, state institutions and decision-making actors in the field of digital economy regulation in Russia. Methods: methods of applied analysis from the neoinstitutional, stadium-cyclical, and network directions of the political and managerial decision-making theory. Results: the main advisory, coordination and subordination institutions in the sphere of emerging regulation of the digital economy are systematized; the formal cycle of decision-making stages is modeled; the degree of influence of decision-making actors and network communities formed within institutional environments is assessed. Conclusions: the analysis shows that there is an imbalance of state decisions taken on a parity basis, depending on the stage of discussion and passage of the draft regulatory and legislative act. In the process of discussing and preparing draft decisions in the field of digital economy, state corporations take priority in comparison with private sector entities. Business representatives, as well as experts and development institutions, are largely focused on the initial stages of the decision-making cycle. In turn, the network analysis shows that the Ministry of digital development and the Ministry of economic development of the Russian Federation, responsible for the implementation of this national program, can play an important role as a conductor of industry interests.

scholarly journals A survey of methods for evaluating mini-publics

2021 ◽  
Author(s):  
Takeuchi Ayano
Keyword(s):  
Decision Making ◽  
Academic Research ◽  
Future Research ◽  
The Political ◽  
Decision Making Process ◽  
Sufficient Information ◽  
Practical Case ◽  
Political Decision ◽  
Wide Range ◽  
Political Decision Making

AbstractPublic participation has become increasingly necessary to connect a wide range of knowledge and various values to agenda setting, decision-making and policymaking. In this context, deliberative democratic concepts, especially “mini-publics,” are gaining attention. Generally, mini-publics are conducted with randomly selected lay citizens who provide sufficient information to deliberate on issues and form final recommendations. Evaluations are conducted by practitioner researchers and independent researchers, but the results are not standardized. In this study, a systematic review of existing research regarding practices and outcomes of mini-publics was conducted. To analyze 29 papers, the evaluation methodologies were divided into 4 categories of a matrix between the evaluator and evaluated data. The evaluated cases mainly focused on the following two points: (1) how to maintain deliberation quality, and (2) the feasibility of mini-publics. To create a new path to the political decision-making process through mini-publics, it must be demonstrated that mini-publics can contribute to the decision-making process and good-quality deliberations are of concern to policy-makers and experts. Mini-publics are feasible if they can contribute to the political decision-making process and practitioners can evaluate and understand the advantages of mini-publics for each case. For future research, it is important to combine practical case studies and academic research, because few studies have been evaluated by independent researchers.

A Research Methodology Based on Design Science for the Construction of Cognitive Maps: The Case of a Chinese Steel Company’s Strategic Decision Making

2011 ◽  
Vol 204-210 ◽  
pp. 2098-2102 ◽  
Author(s):  
Ying Hong Zhong ◽  
Hong Wei Liu
Keyword(s):  
Decision Making ◽  
Research Methodology ◽  
Design Science ◽  
Business Environment ◽  
Cognitive Map ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Wicked Problem ◽  
Senior Executives ◽  
Cognitive Decision

In turbulent business environment, executives’ cognition plays an important role in their understanding and the process of decision making. Cognitive map helps the senior executives in their thought process. The construction of information-based cognitive map, however, is a wicked problem, which could hardly be tackled by hard systems methodologies. Design science provides a good solution. This paper puts forward a research methodology, which is divided into six activities, to build up an information systems (IS) based cognitive map for cognitive decision support. The methodology is demonstrated by a case study of a Chinese steel company’s strategic decision making.

scholarly journals MODELING AS A SCIENTIFIC TOOL FOR SUBSTANTIATION OF MANAGEMENT DECISIONS IN OPERATIONAL ACTIVITIES OF TRANSPORT ENTERPRISES

2021 ◽  
Vol 49 (2) ◽  
pp. 162-172
Author(s):  
Snizhko L ◽  
◽  
Buzun T ◽  
Razvodovska V ◽  
◽  
...  
Keyword(s):  
Decision Making ◽  
System Analysis ◽  
Management Decision ◽  
Decision Making Process ◽  
Management Decisions ◽  
Legal Form ◽  
Operational Decisions ◽  
Operational Activities ◽  
Problem Formalization ◽  
Scientific Tool

On the basis of analysis of existing approaches to the process of decision making, in this article the procedure of taking optimal operational decisions is proposed, which describes in detail all of its aspects and features related to the specifics of the operational activities of transport enterprises. In this procedure the basic steps are those directly related to the modeling: formulation of the problem (formalization of the original problem), construction of the model, its solution, credibility and adequacy check, restoration (or adjustment) of the model. The object of the research is decision-making process in the operational management of transport enterprises. The purpose of the research is to develop a procedure for the process of making optimal operational decisions based on existing approaches to the decision-making process, using modeling as a scientific tool to substantiate them. The research method is methods of system analysis and modeling. It has been discovered that the need to reduce the subjectivity of the process of making important decisions in the operational activities of transport enterprises and increase its scientific validity is especially relevant today, in the face of threats and uncertainty about the external environment of the organization. All methods of rational decision-making are based on models, which, in turn, are scientific tools. Modeling creates a serious informational and methodological basis for structural analysis of decisions needed to improve the management process for operational managers and hence - to increase the level of management in general, because it makes them more systematic, and the tools used during this help them be more rational. The results of the article can be implemented during making complex and important management decisions in the operational activities of both transport enterprises and other business entities of various activities, regardless of the organizational and legal form and ownership. KEY WORDS: MODELING METHOD, MODELING, MODEL, TRANSPORT ENTERPRISE, OPERATIONAL ACTIVITY, OPERATIONS MANAGER, MANAGEMENT DECISION.

scholarly journals Improvement of the Statement of Financial Results as an Information Base for Strategic Decision Making

2021 ◽  
Vol 8 (4) ◽  
pp. 69-79
Author(s):  
T. Yu. Druzhilovskaya ◽  
E. S. Druzhilovskaya
Keyword(s):  
Decision Making ◽  
Financial Statements ◽  
Educational Process ◽  
Strategic Decision ◽  
Educational Institutions ◽  
Strategic Decisions ◽  
Accounting Standard ◽  
State Sector ◽  
Information Base ◽  
Wide Range

The article presents the results of a study of the possibilities to improve approaches to generating a report on financial results as an information base for making strategic decisions. It critically analyses the significance of the changes in this report, stipulated by the draft federal accounting standard for the non-state sector “Financial statements of the organization” (FAS FS), which should come into force from 2021. The authors identify and systematize the main changes planned by the FAS FS draft in report on financial results formation, including not only adjusting certain articles, but also improving the approaches to the presentation of a number of indicators. The importance of each of these changes, their positive and negative significance for the persons making strategic decisions is determined; the main problematic and debatable issues to improve the formation of the report on financial results from the perspective of users of the reporting are identified. An example of the form of the report on financial results is provided, aimed at presenting the reliable and understandable information necessary for decision-making users. The results of the study can be useful to a wide range of readers interested in the problems of forming a report on financial results, and can also be applied in the practical work of the accounting departments of organizations, in the educational process of higher educational institutions and in the creation and improvement of relevant regulatory documents on accounting.

scholarly journals Perancangan Data Warehouse Untuk Informasi Strategi Studi Kasus Penerimaan Siswa Baru STIE Binaniaga Bogor

2020 ◽  
Vol 6 (1) ◽  
pp. 111-120
Author(s):  
Rahmat Tri Yunandar ◽  
Amir Amir ◽  
Khairul Rizal
Keyword(s):  
Decision Making ◽  
Data Warehouse ◽  
Strategic Decision ◽  
Educational Institutions ◽  
Decision Making Process ◽  
Process Data ◽  
Strategic Information ◽  
Business Context ◽  
Final Goal ◽  
Operational Activities

As an Educational institutions need to have more knowledge, in evaluating, designing and making decisions. Where from such knowledge can be obtained from the data stored in the operational activities of educational institutions databases into the data warehose, so it can be used as a support in the decision making process. Data Warehouse has a major role in the provision of strategic information that can be used to meet the needs of management in a business context. This study examines the development of the data warehouse to the data of new admissions to the STIE Binaniaga Bogor, which can dig up important information that can help retrieval strategic decision to support promotional activities at the STIE Binaniaga Bogor. The final goal of this study was to produce a design of a data warehouse that can support the needs of management in making decisions by providing strategic information on new admissions, which produces a summary of information that is accurate and useful as input to determine strategies for promotion.

scholarly journals Competitive advantage of the sustainable digital economy

2021 ◽  
Vol 250 ◽  
pp. 06004
Author(s):  
Oksana Nurova ◽  
Tatiana Freze
Keyword(s):  
Competitive Advantage ◽  
Vocational Training ◽  
Sharing Economy ◽  
Digital Economy ◽  
Green Economy ◽  
High Tech ◽  
High Quality ◽  
Banking And Finance ◽  
Blockchain Technology ◽  
Wide Range

This research focuses on factors that influence the competitive advantage of the sustainable digital economy. Digital economy helped to speed up the exchange of information flows which, in turn, impacted on the creation the new forms of business and socio-economic interactions. Such sectors as banking and finance or hospitality and services are all influenced by the advancements of the digital economy that include sharing economy or Blockchain technology and its related applications. In this article, we show that digital economy is more sustainable due to the fact that it requires less energy sources and can itself contribute to the formation of the green economy and the acceptance of the renewable energy. All these features constitute its competitive advantage that needs to be further supported and fostered. In addition, we discuss key strategies and the development of skills to adapt to a digital economy and provide an overview of high-quality training for high-tech workers. It was assumed that in future, people would be able to easily acquire new skills through vocational training and vocational training. However, the spread of digital technologies has changed the way we work and has increased the need for high-quality training for workers in a wide range of professions. To use such technologies effectively, workers in an increasing number of sectors and professions need both general and advanced ICT skills.

IT in Manufacturing and Logistics for SCM and OP in SMEs

2020 ◽  
pp. 109-117 ◽  
Author(s):  
Wei Hung ◽  
Yao-Wen Hsu
Keyword(s):  
Decision Making ◽  
Information Technology ◽  
Supply Chain ◽  
Statistical Analysis ◽  
Organizational Performance ◽  
Manufacturing Sector ◽  
Decision Making Process ◽  
Chain Management ◽  
Modern Age ◽  
Wide Range

This analysis focusses on the effects of Information Technology (IT) and how it significantly affects the Supply Chain Management (SCM) in logistics and manufacturing-Small and Medium-Sized Enterprises (SMEs). Apart from that, our purpose is to evaluate how IT affects the Organizational Performance (OP) in the enterprises. Irrespective of the fact that IT cannot be applied in every enterprise, the findings in this research are based on the statistical analysis which shows that a wide-range of workforce in the modern age has adopted the initiative considering the complexities of SCM and mostly to maximize OP in the enterprises. This research was done based on the analysis of SMEs in logistics and manufacturing sector in India. The sample used to conduct this research makes it valid to draw assumptions that managers and CEOs are responsible for coordinating enterprise operations in SMEs. The evaluation in this research shows that the workforce is obliged to formulate strategies to allow employees to enhance their competency of IT. In that regard, the findings are essential for the enhancement of the decision-making process, SCM and OP.

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