Methodological basis of economic decision-making

Abstract

The article aims to substantiate the methodological basis of economic decision-making as a science of choosing the most efficient ways of management carried out by corporate executives. Cooperation principles and methods in the system of collective entrepreneurship are closely connected to business success in corporate activities. The compliance with important corporate principles is conducive to the development of optimum managerial decisions. Managerial decisions provide a company's competitive advantages in the goods and services markets and normal operation of staff in these businesses. In the paper the author present original methodological approach towards decision making process.

Analysis of the Key Financial Factors Affecting the Profitability of Enterprises in the Context of the Digitalization of the Economy

“…First, new methods of marketing research of the industrial market products were used by means of Hotjar and Survey Monkey technologies. These tools allow not only using question scripts, but also immediately analyzing the results obtained [14].…”

Decision Support System in a Group of Companies

“…The need to balance the information analytical system of strategic management of a group of companies in order to systematically and purposefully improve the performance of all the enterprises of the group and the value of the company as a whole, in the conditions of economic stagnation or recession, is more relevant than ever. A large company can achieve this in the modern economic environment only if it provides high-quality information support for strategic decisions [1,2]. The quality is understood as the ability of management to simultaneously possess timely, reliable and unambiguously interpreted information about the current situation and the ability to analyze all kinds of cause-and-effect relationships, formulate conclusions, and make high-quality strategic managerial decisions in this case.…”