Management decision-making algorithm development for planning activities that reduce the production risk level

2019 ◽  
Vol 1-2 (93) ◽  
pp. 41-49
Author(s):  
O. Kruzhilko ◽  
V. Maystrenko
Keyword(s):  
Mathematical Model ◽  
Preventive Measures ◽  
Management Decision ◽  
Expert Assessment ◽  
Management Decisions ◽  
Production Risk ◽  
Model Of Management ◽  
Management Decision Making ◽  
Expert Assessments ◽  
Industrial Risk

Purpose: Algorithm development for a measures phased expert assessment to reduce production risk at an industrial enterprise to adapt the expert method to the conditions for specific problem solving. Design/methodology/approach: To develop an algorithm for making management decisions, a step-by-step solution process was used. If the problem is solved under conditions of complete or partial uncertainty, an expert method of estimation was applied. In the mathematical model of management decision-making used criterion approach. At the same time, the methods of Sevij, Wald, and Hurwitz are considered to determine the criterion for choosing management decisions. Findings: A phased expert assessment of measures that reduce production risk at an industrial enterprise with the introduction of weighting factors in specified criteria is proposed. The expediency of applying the method of expert assessments and the Hurwitz criterion when planning measures to reduce industrial injuries is justified, since this approach links the preventive measures in the field of labour protection with the results of risk assessment and reduces subjectivity in making management decisions. Research limitations/implications: The proposed algorithm for expert assessment of measures to reduce production risk is universal for industrial enterprises. Practical implications: An algorithm has been developed to substantiate managerial decisions to reduce the production risks of the occurrence of traumatic events when planning preventive measures, which involves applying criteria for selecting measures based on the method of expert assessments and applying the Gurwitz criterion. Originality/value: Developed a consistent model of industrial risk management, which is based on a component method of assessing the risk of traumatic events and a mathematical model of management decisions. This model differs from the existing ones, taking into account all available risk-relevant information of the enterprise, stimulates preventive activity, and allows establishing the dependence of the level of industrial risk on the validity of measures on occupational safety and reducing the influence of the subjective component of expert judgments.

A mathematical model to evaluate return on investment in higher education

2021 ◽  
Vol 20 (4) ◽  
pp. 772-788
Author(s):  
Valeriya S. ARTEEVA ◽  
Angi E. SKHVEDIANI
Keyword(s):  
Higher Education ◽  
Mathematical Model ◽  
Business Processes ◽  
Management Decision ◽  
Peter The Great ◽  
Organizational Competencies ◽  
Management Decision Making ◽  
Documentation Systems ◽  
Three Stages ◽  
Business Analyst

Subject. The article assesses the effectiveness of investments in higher education. Objectives. The aim is to assess the performance of investments in higher education for a Master’s student at the Peter the Great St. Petersburg Polytechnic University, in the field of Economics, Business Analyst Specialty. Methods. The methodology, presented in the study, includes three stages. The first assesses the demand for skills, the second assesses how the supply of skills match the demand, and the third – the effectiveness of investments in higher education, based on the developed mathematical model, scenario analysis, and decision tree. Results. We revealed that for a business analyst, the most important categories of skills are project management, decision-making, organizational competencies, communication, and knowledge of corporate software. The most required skills in these categories are the knowledge of business processes, project documentation, systems thinking, teamwork, communication, and well-bred speech. The analysis of correspondence between the competencies required by employers and those acquired in the training process showed that Master’s graduates meet the demand for the position of a business analyst in the labor market by 69%. Conclusions. The evaluation of the effectiveness of investment in higher education for a Master’s student of the Peter the Great St. Petersburg Polytechnic University, in the field of Economics, Business Analyst Specialty, shows that it is more profitable for a Bachelor graduate to continue studying for a Master's degree, rather than go straight to work.

scholarly journals Adoption of management decisions based on programming methods as a subgroup of methods for optimizing performance indicators

2019 ◽  
Vol 4 (9) ◽  
pp. 34-44
Author(s):  
А. Тебекин ◽  
A. Tebekin
Keyword(s):  
Decision Making ◽  
Performance Indicators ◽  
Management Decision ◽  
Management Decisions ◽  
General Classification ◽  
Managerial Decisions ◽  
Management Decision Making ◽  
First Time

The author's classification of management decision-making methods, including twenty-five classes of methods, is presented for the first time. As part of the general classification of management decision-making methods, the role and place of a group of methods for making managerial decisions based on the optimization of performance indicators was demonstrated. In the group of methods for making managerial decisions based on the optimization of performance indicators, a subgroup of programming methods (linear, nonlinear and dynamic) is considered in detail. The features of use and application are shown when making managerial decisions of a subgroup of programming methods.

scholarly journals Algorithm of optimal management for the efficient use of energy resources

2019 ◽  
Vol 110 ◽  
pp. 02052 ◽  
Author(s):  
Sergey Krasnov ◽  
Sergey Sergeev ◽  
Elizaveta Zotova ◽  
Nadezhda Grashchenko
Keyword(s):  
Mathematical Model ◽  
Decision Making ◽  
Energy Resources ◽  
Management Decision ◽  
Optimal Management ◽  
Negative Effects ◽  
Optimal Decisions ◽  
Maximum Profit ◽  
Management Decision Making ◽  
Business Entities

The paper presents the results of the developed algorithms aimed at optimizing management decision-making by the administration of megalopolises. A mathematical model is obtained within the concept of digital economy. The regulatory action of dispositive decisions is aimed at business entities whose activities are externalized while consuming energy resources. Since any resources are used unevenly throughout the year, the authors apply the methods of the theory of optimal decisions. The criterion is the functional reflection of the balance between the maximum profit, the comfort of living conditions, and the environmental conditions. The results obtained make it possible to take administrative decisions in an optimal way, which reduces the negative effects of externalities and results in the most efficient use of energy resources.

scholarly journals Numerical Studies of Statistical Management Decisions in Conditions of Stochastic Chaos

Mathematics ◽  
2022 ◽  
Vol 10 (2) ◽  
pp. 226
Author(s):  
Alexander Musaev ◽  
Dmitry Grigoriev
Keyword(s):  
Turbulent Flows ◽  
Asset Management ◽  
System Component ◽  
Management Decision ◽  
Management Decisions ◽  
Numerical Studies ◽  
Stochastic Chaos ◽  
Management Decision Making ◽  
Observation Series ◽  
Original Observation

The research presented in this article is dedicated to analyzing the acceptability of traditional techniques of statistical management decision-making in conditions of stochastic chaos. A corresponding example would be asset management at electronic capital markets. This formulation of the problem is typical for a large number of applications in which the managed object interacts with an unstable immersion environment. In particular, this issue arises in problems of managing gas-dynamic and hydrodynamic turbulent flows. We highlight the features of observation series of the managed object’s state immersed in an unstable interaction environment. The fundamental difference between observation series of chaotic processes and probabilistic descriptions of traditional models is demonstrated. We also present an additive observation model with a chaotic system component and non-stationary noise which provides the most adequate characterization of the original observation series. Furthermore, we suggest a method for numerically analyzing the efficiency of conventional statistical solutions in the conditions of stochastic chaos. Based on numerical experiments, we establish that techniques of optimal statistical synthesis do not allow for making effective management decisions in the conditions of stochastic chaos. Finally, we propose several versions of compositional algorithms focused on the adaptation of statistical techniques to the non-deterministic conditions caused by the specifics of chaotic processes.

Some Observations on Marketing Research in Top Management Decision Making

1969 ◽  
Vol 33 (4) ◽  
pp. 10-15 ◽  
Author(s):  
John G. Keane
Keyword(s):  
Decision Making ◽  
Marketing Research ◽  
Management Decision ◽  
Top Management ◽  
Management Decisions ◽  
Management Decision Making

The author's comments on the role of marketing research in top management decisions are based on his association with six companies (and continuing contact with many more) spanning manufacturing, consulting, and advertising. Some of these observations on the diverse marketing research-top management interface in decision making were presented to the Chicago Chapter of the American Marketing Association. The Chapter conferred a Merit Award on the earlier presentation during its 1968 competition for papers advancing the science of marketing.

scholarly journals Microeconomic Effects Of Reduced Yield Variability Cultivars Of Soybeans And Wheat

1992 ◽  
Vol 24 (1) ◽  
pp. 121-133 ◽  
Author(s):  
Carl R. Dillon
Keyword(s):  
Production Management ◽  
Effective Means ◽  
Yield Variability ◽  
Management Decision ◽  
Wheat Cultivars ◽  
Production Risk ◽  
Management Decision Making ◽  
Programming Techniques ◽  
Decision Making Model ◽  
New Crop

AbstractEconomic analysis was conducted on hypothetical agronomic research on new crop cultivars for Arkansas dryland soybean and wheat producers. In relation to farmers' attitudes toward risk, the microeconomic effects and level of adoption of yield variability reducing cultivars were analyzed utilizing a production management decision-making model formulated with mathematical programming techniques. The study indicated that negative covariance between crops continues to be an effective means of reducing production risk associated with yield variability. However, under varying circumstances, agronomic research on the breeding of new soybean and wheat cultivars with reduced yield variability is worthwhile if there is only slight concurrent reduction in expected yields.

Development of the Urban Environment Based on the Optimization of Management Decision-Making

2020 ◽  
Vol 26 (3) ◽  
pp. 322-327
Author(s):  
V. M. Medvedev
Keyword(s):  
Decision Making ◽  
Urban Environment ◽  
Management Decision ◽  
Practical Implementation ◽  
Management Decisions ◽  
Environment Management ◽  
Management Decision Making ◽  
High Level

The presented study identifies approaches to decision-making aimed at the optimal development of the urban environment.Aim. The study aims to develop proposals for improving methodological approaches aimed at the development of the urban environment and for using these approaches in the preparation of the corresponding management decisions.Tasks. The author assesses the problem of urbanization and shows how it affects the need to modernize the urban environment; formulates the principles of optimization of management decision-making aimed at the development of the urban environment; evaluates the possibility of the practical implementation of these principles (through the example of the federal city of St. Petersburg).Methods. This study uses strategic analysis, systems and case-based approach, comparative and retrospective analysis.Results. The practical aspects of designing the processes and approaches to urban environment management are examined. The efficiency of management is shown to depend largely on the optimization of management decisions that could improve the effectiveness of individual services aimed at the formation and development of a modern urban environment in the long term. The study describes the successful experience of St. Petersburg in developing the complex of urban environment management services.Conclusions. Improving urban environment management is an important aspect of increasing the population’s quality of life. As evidenced by St. Petersburg’s experience, to achieve a high level of comfort in the urban environment it is necessary to actively use the principles of consistency, innovation, and public participation in decision-making. The author recommends normative consolidation of these principles and their more active practical application in the management of Russian cities.

Modeling management decision making in the socially oriented business structures

2021 ◽  
Vol 96 (3) ◽  
pp. 78-86
Author(s):  
L. I. Kulakova ◽  
◽  
A. V. Polyanin ◽  
V. V. Tarnovskiy ◽  
◽  
...  
Keyword(s):  
Mathematical Models ◽  
Management Decision ◽  
Phase System ◽  
Management Decisions ◽  
Managerial Decision ◽  
Two Phase ◽  
Managerial Decisions ◽  
Non Linear ◽  
Management Decision Making ◽  
Business Structures

The article discusses the main economic and mathematical models used in making and implementing management decisions. It has been established that the beginning of making a managerial decision is determined by the nature of solution of managerial problem: creative and standard, implementation of a managerial decision is subordinate to the certainty of the result, that is, its probabilistic or deterministic outcome. The procedure and modeling of the process of making and implementing management decisions will be linear or non-linear. On this basis, the types of mathematical models for solving managerial problems are considered when making and implementing managerial decisions to optimize the chosen option. The author's model is proposed based on a two-phase system from the theory of queues with elements of nonlinear programming for making and implementing managerial decisions in socially oriented business structures. The model includes a combination of linear and non-linear programming. Since when conducting business, socially oriented entrepreneurial structures are aimed at obtaining two types of effects, both commercial and social.

scholarly journals Directions of efective system of managment decisions making on the example of agricultural machinery industry enterprise

2021 ◽  
Vol 69 (2) ◽  
pp. 129-136
Author(s):  
S. Frunza
Keyword(s):  
Decision Making ◽  
Production Process ◽  
Machine Building ◽  
Management Decision ◽  
Decision Making Process ◽  
Agricultural Machinery ◽  
Management Decisions ◽  
Machinery Industry ◽  
Management Decision Making ◽  
Theoretical Foundations

In Ukraine, taking into account the constant changes in the economy and policy, the enterprises need to improve management decision-making systems for efficient and well-established production process. Thus it is especially important for the state economy to establish a system of management of the machine-building industry in the field of agricultural production as they: provide the main share of revenues to GDP in Ukraine; are the main source for ensuring the food and agricultural products development. The objective of the paper is to investigate more thoroughly the theoretical foundations of the management decision-making system formation, to develop the direction for optimization under the conditions of uncertainty and risk on the example of agricultural machinery industry enterprise. The theoretical foundations of management decisions at the enterprise as a process for developing and selecting the most effective solution to achieve the best results in the enterprise are outlined in this paper. The factors influencing management decisions such as: degree of risk; information; time; personal qualities of the leader are considered. Methods for application contributing to the most optimal decisions such as: traditional, systematic, economic-analytical, systemic and targeted are identified. Analysis of the current state of agricultural machinery industry development in Ukraine, which shows the dynamics in the direction of deteriorating their condition is carried out. Therefore, there is the need to make management decisions concerning the establishment of their system in management. For example, the agricultural machinery company JSC «Elvorti» is considered. The problem of effective management which requires optimization of directions in the process of making managerial decisions in order to improve its activities is determined. The following factors of the influence on crisis phenomena in the given industry: external factors (political, economic) and internal factors (lack of working capital) significantly affecting the activities results are considered. On the basis of JSC «Elvorti» activity analysis, it is proved that it is necessary to take optimization measures and certain directions in the management decision-making process in order to ensure effective operation. The directions for control, simplification of decision-making process due to automation of document circulation on the basis of 1C, motivation of the personnel which will be able to improve organizational structure of the enterprise and production process are proposed.

scholarly journals Development of methodological support for improving the quality of expert assessment of business processes

2021 ◽  
Vol 1 (4(57)) ◽  
pp. 22-27
Author(s):  
Vitalii Antoshchuk ◽  
Volodymyr Filippov ◽  
Varvara Kuvaieva
Keyword(s):  
Business Processes ◽  
Expert Assessment ◽  
Management Decisions ◽  
Current State ◽  
Wide Range ◽  
Expert Team ◽  
Expert Assessments ◽  
Business Structures ◽  
Individual Expert

The object of research is the process of forming a collective expert assessment with increased reliability in making management decisions in business structures by an expanded team of experts. One of the most problematic places in the expert assessment of management decisions is the complexity of forming a competent expert team and the rather high cost of the expertise. In recent years, there has been a tendency for expert assessment with an expanded team of experts. In this case, not only professional experts are involved in the examination, but also all persons wishing to take part in solving the problem. In this case, the reliability of the examination raises doubts. In connection with the participation in expert assessment of persons who do not have experience in expert work, a wide range of expert assessments is possible. The analysis of the current state of the methods of expert assessment in business is carried out. It has been established that the Delphi method, which was most used until recently, does not meet modern requirements. More progressive methods are based on mathematical consensus theory. Consensus is understood as the degree of correlation of individual expert assessments performed in rank scales. In the course of the study, formalized mathematical approaches to the organization of collective expertise were used. A method for processing the results of an examination with an expanded composition of experts was developed. The developed methodology is focused on identifying experts with insufficient qualifications. The methodology allows for a step-by-step assessment of the reliability of the collective expert decision by assessing the Kendall concordance coefficient. It is shown that the phased exclusion of assessments by experts with insufficient qualifications allows increasing the level of consensus, the quality and reliability of the collective expert assessment. The developed methodology has been tested in a really functioning enterprise to make a decision on the exit strategy of the enterprise from their crisis. The use of the developed methodology has made it possible to significantly increase the reliability of the examination results, assessed by the concordance coefficient. The results are useful for practical application in business structures when conducting expert examinations involving a wide range of participants.

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