Budgeting as a Tool for Sustainable Development

2018 ◽  
pp. 42-60
Author(s):  
Fatih Yılmaz
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Strategic Planning ◽  
Financial Management ◽  
Sectoral Differences

Corporations are profit-oriented organizations. If they do not have enough profit, they cannot survive. The expectations and forecasts have a key role in decision making. Thorough those expectations and forecasts, a scenario is developed. If a scenario contains financials, it means that a budget is prepared. Budget is a kind of financial simulator of a business. Budgeting is a vital tool in financial management for sustainable development. Budgeting also maintains the effectiveness of capital and resource of the company. There is diversity in the budgets of each sector or each industry. Manufacturing, logistics, airlines, construction, hospitality, and others have sectoral differences in budgeting. In this chapter, objectives of budgeting, budgeting methods, steps in budgeting, sectoral differences, relationship between budgets, and strategic planning are discussed.

scholarly journals Using Group Model Building to Foster Learning for Strategic Sustainable Development

2020 ◽  
Vol 12 (20) ◽  
pp. 8350 ◽  
Author(s):  
Matilda Watz
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Strategic Planning ◽  
Curriculum Development ◽  
Model Building ◽  
Reference Model ◽  
Group Model ◽  
Group Model Building ◽  
Case Examples ◽  
Pedagogical Methods

Capability for strategic planning and decision-making toward sustainability requires both individuals and organizations from different sectors and disciplines to develop necessary skills and competencies. Therefore, a growing discussion has emerged within academia and practice around how pedagogical methods and tools can be utilized for this purpose. This paper seeks to contribute to this discussion by asking ‘in which way may group model building be used to foster learning that leads to competency for strategic sustainable development?’. The potential of the group model building (GMB) process’ steps and associated modeling to foster learning for strategic sustainable development (SSD) was analyzed using four case examples. Theory on learning for sustainability and key sustainability competencies were linked to elements of a process for strategic planning toward sustainability within the framework for strategic sustainable development (FSSD) as a reference model. The results provide a discussion on how GMB can be utilized to foster sustainability competencies and learning for sustainability that can contribute to SSD, hence a basis for continued research and ideas for course and curriculum development.

Bridging Decision Making under Deep Uncertainty (DMDU) and Transition Management (TM) to improve strategic planning for sustainable development

2020 ◽  
Vol 107 ◽  
pp. 158-167 ◽  
Author(s):  
Shirin Malekpour ◽  
Warren E. Walker ◽  
Fjalar J. de Haan ◽  
Niki Frantzeskaki ◽  
Vincent A.W.J. Marchau
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Strategic Planning ◽  
Transition Management ◽  
Deep Uncertainty

Specifics of strategic financial planning of enterprise activity in the digital economy

2020 ◽  
Vol 26 (3) ◽  
pp. 499-507
Author(s):  
P.A. Levchaev ◽  
B. Khezazna
Keyword(s):  
Strategic Planning ◽  
Financial Planning ◽  
Financial Management ◽  
Digital Economy ◽  
Economic Life ◽  
Corporate Management ◽  
Economic Relations ◽  
Digital Era ◽  
Analysis And Synthesis ◽  
Corporate Management System

Subject. The article investigates the specifics of strategic financial planning of enterprise operations in conditions of digitalization processes, as well as the introduction of advanced technologies in all spheres of social and economic life. It determines unique opportunities for company development in the international market. Objectives. The study aims at reviewing a set of economic relations and problems emerging in the process of strategic financial planning of enterprise performance in the digital economy, and developing recommendations to improve the financial strategic planning of economic entities. Methods. We employ methods of economic analysis and synthesis, and comparison. The paper rests on works by academic economists on the problems of finance, financial management, and planning. Results. We investigated the most important features and problems of strategic financial planning of enterprises in the digital economy, and how the digital era increases the level of competition of participants for economic dominance. Identified features of financial strategic planning of the corporation's activities in the digital economy are recommended for use in the corporate management system of an industrial enterprise. Conclusions. Improving the strategic management process is a stage of transformations in the digital economy. Enterprises create new priorities through using management models. At the same time, the role of fixed assets is reduced, and intangible assets and information accelerate the business. The effectiveness of company operations is often determined by the availability of accurate and timely information that reflects the necessary aspects of financial and economic practice.

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.

scholarly journals Sustainable Transport Indicators in the Context of Introducing of Electric Passenger Cars

2020 ◽  
Vol 14 (3) ◽  
pp. 318-324
Author(s):  
Stevan Kjosevski ◽  
Atanas Kochov ◽  
Darko Danev ◽  
Aleksandar Kostikj
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Literature Review ◽  
Sustainable Transport ◽  
Ahp Method ◽  
Passenger Cars ◽  
Balkan Countries ◽  
Scientific Approach ◽  
Development Analysis

Sustainable development and sustainable transport are becoming of higher and higher importance. A scientific approach to sustainable development analysis means, first of all, identification of relevant indicators. Based on literature review and regional professionals’ view, a total of 90 indicators have been chosen. They have been structured in five hierarchic levels. A total of five personal transport means alternatives have been analyzed in the research. The AHP method of analysis has been employed in which 75 professionals from the Western Balkan countries have filled appropriate questionnaire. The research presents their opinion about the capacity of each of the alternatives to contribute to the sustainable transport in the region, but also puts a light on perception of the professionals on importance of chosen indicators. The results of this research could be used for further research and could also help to decision making levels regarding sustainable transport and sustainable development.

scholarly journals A Methodological Framework for Sustainable Office Building Renovation Using Green Building Rating Systems and Cost-Benefit Analysis

2020 ◽  
Vol 12 (15) ◽  
pp. 6156
Author(s):  
Nataša Šuman ◽  
Mojca Marinič ◽  
Milan Kuhta
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Cost Benefit Analysis ◽  
Early Stage ◽  
Cost Benefit ◽  
Green Building ◽  
Office Buildings ◽  
Office Building ◽  
Rating System ◽  
Benefit Analysis

Sustainable development is a priority for the future of our society. Sustainable development is of particular importance to the Architecture, Engineering, and Construction (AEC) industry, both for new buildings and for the renovation of existing buildings. Great potential for sustainable development lies in the renovation of existing office buildings. This paper introduces a new framework for identifying the best set of renovation strategies for existing office buildings. The framework applies selected green building rating system criteria and cost-effective sustainable renovation solutions based on cost-benefit analysis (CBA), and thus provides a novelty in decision-making support for the sustainable renovation of office buildings at an early-stage. The framework covers all necessary steps and activities including data collection, determination of the required level of renovation, selection of the green building rating system, identification of impact categories and criteria, and final evaluation and decision-making using CBA. The framework can be used in conjunction with different systems and according to different regional characteristics. The applicability of the addressing procedure is shown through a case study of a comprehensive renovation of an office building in the city of Maribor.

scholarly journals Scenario modelling to support industry strategic planning and decision making

2014 ◽  
Vol 55 ◽  
pp. 120-131 ◽  
Author(s):  
Romy Greiner ◽  
Javier Puig ◽  
Cindy Huchery ◽  
Neil Collier ◽  
Stephen T. Garnett
Keyword(s):  
Decision Making ◽  
Strategic Planning ◽  
Scenario Modelling

scholarly journals HR Managers’ Emotions in Strategic Decision-Making Events: Evidence from Croatia

2021 ◽  
Vol 13 (2) ◽  
pp. 845
Author(s):  
Marli Gonan Božac ◽  
Katarina Kostelić
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Strategic Planning ◽  
Strategic Decision ◽  
Strategic Decision Making ◽  
Personal Perspective ◽  
Human Resource Managers ◽  
Organizational Perspective ◽  
Hr Managers ◽  
Experienced Emotion

The inclusion of emotions in the strategic decision-making research is long overdue. This paper deals with the emotions that human resource managers experience when they participate in a strategic problem-solving event or a strategic planning event. We examine the patterns in the intensity of experienced emotions with regard to event appraisal (from a personal perspective and the organization’s perspective), job satisfaction, and coexistence of emotions. The results reveal that enthusiasm is the most intensely experienced emotion for positively appraised strategic decision-making events, while frustration is the most intensely experienced emotion for negatively appraised problem-solving events, as is disappointment for strategic planning. The distinction between a personal and organizational perspective of the event appraisal reveals differences in experienced emotions, and the intensity of experienced anger is the best indicator of the difference in the event appraisals from the personal and organizational perspective. Both events reveal the variety of involved emotions and the coexistence of—not just various emotions, but also emotions of different dominant valence. The findings indicate that a strategic problem-solving event triggers greater emotional turmoil than a strategic planning event. The paper also discusses theoretical and practical implications.

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