Classification of management decision making methods

Sokurenko, Igor

doi:10.32680/2409-9260-2019-6-269-161-177

Cited by 2 publications

(1 citation statement)

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“…This diversity determines the multifaceted nature of their characteristics, which necessitates the classification of management decisions. There are various approaches to such classification based on different sets of characteristics in the scientific literature (Sokurenko, 2019;Cherednyk, 2016;Tsiutsiura, Kryvoruchko & Tsiutsiura, 2012). Summarising these approaches, the following classification of management decisions can be proposed (Figure 1).…”

Section: Classification and Criteria For Management Decisionsmentioning

confidence: 99%

The Essence and Classification of Management Decisions: Theoretical and Methodological Aspect

Zaika,

Shaforenko

2024

TSEJ

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The decision-making process plays a crucial role in the management of any business and is a critical factor in its success and stable development. This process not only requires managers to be familiar with the latest methods and approaches to decision-making, but also requires a thorough analysis of the available information to provide an objective basis for selecting the most optimal solution. Management decisions made on the basis of a detailed study of factual data, the use of proven methods and the consideration of one's own experience in the field significantly increase the company's chances of success. The effectiveness of such decisions has a direct impact on the coherence and productivity of the company, transforming it into a well-established organisational mechanism capable of achieving set goals and adapting to changing external conditions. However, the key to improving management efficiency does not lie solely in the application of technical knowledge or data. It is also important for managers to understand the deeper meaning of the term "management decision". Such an understanding contributes to making decisions that are not only technically justified, but also morally justified, taking into account the broader context of the company's activities. The article examines the concept of "management decision", which is considered to be the most important element of any manager's activity. The authors reveal the essence of a managerial decision as a process and a result, which involves choosing an alternative course of action aimed at achieving the company's strategic goals. The subject of the study is a managerial decision as a process and result of a choice made by managers within their powers. The research methodology includes analysis of scientific literature, synthesis and generalisation of the results obtained, systematisation and classification of managerial decisions according to various criteria, as well as identification and description of the main criteria for making managerial decisions. The purpose of the publication is to reveal the concept of "managerial decision", to study its essence, classification and criteria for making it. The article defines the concept of "managerial decision" as a process and result of a choice between possible alternatives made by managers within the limits of their official powers and competences. This choice is aimed at achieving specific goals of the enterprise and solving emerging problems. It includes analysis of the existing situation, evaluation of possible options, their optimisation and economic justification, and finally, selection of the most effective way to achieve the goal. On the basis of generalisation of various approaches, a classification of managerial decisions by various criteria is proposed, which allows better understanding of their diversity and peculiarities. The article describes a set of criteria that serve as a basis for evaluation, development and adoption of managerial decisions. The paper emphasises the importance of a comprehensive approach to management decision-making, based on a thorough analysis of the situation, a balanced choice between alternatives and a clear definition of implementation mechanisms. The results of the study may be useful for executives at various levels, managers, and researchers studying the theory and practice of managerial decision-making.

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Section: Classification and Criteria For Management Decisionsmentioning

confidence: 99%

The Essence and Classification of Management Decisions: Theoretical and Methodological Aspect

Zaika,

Shaforenko

2024

TSEJ

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Algorithm for Adoption of Managerial Decisions and Management of Its Implementation Based on the System of Dynamic Indicators of Digital Transformation of Socio-Economic and Ecological Systems

Bondar,

Kovalov,

Kubatko

2023

journal

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The substantiation of the development and compliance with the algorithm for the adoption and implementation of management decisions regarding the digital transformation of the socio-economic and ecological systems of Ukraine is an urgent task for the long-term development of the country. The article presents an algorithm for making management decisions, as well as a holistic mechanism for their implementation. The main idea of the algorithm is to take into account certain aspects of the management decision-making process, to follow the general management methodology, as well as to correctly interpret and use the principles of the system approach. The decision implementation mechanism involves the formation of a complete system of implementation of organizational forms, principles, methods and management tools, taking into account the main functions of management, as well as the aspects of space and time.

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Classification of management decision making methods

Cited by 2 publications

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The Essence and Classification of Management Decisions: Theoretical and Methodological Aspect

The Essence and Classification of Management Decisions: Theoretical and Methodological Aspect

Algorithm for Adoption of Managerial Decisions and Management of Its Implementation Based on the System of Dynamic Indicators of Digital Transformation of Socio-Economic and Ecological Systems

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