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The Basic Principles of Functioning and Development of Modern Business Systems

Specifics of Decision Making in Modern Business Systems

ISBN: 978-1-78756-692-7, eISBN: 978-1-78756-691-0

Publication date: 1 August 2019

Abstract

Purpose: The purpose of the work is to determine the basic principles of functioning and development of modern business systems.

Methodology: The author uses the method of logical analysis (analysis of causal connections), the method of systematization, and the method of formalization.

Conclusions: The basic principles of functioning of a modern business system are determined: uniqueness, marketing activity, effectiveness, openness, and flexibility. They form under the influence of such factors of the business environment as competition, marketing relations, deficit of resources, globalization, and innovational economy. Only under the condition of observation of all these principles, a business system can achieve and preserve competitiveness and function and development in the business environment. A system of basic principles of functioning and development of a modern business system, which form under the influence of the above factors of the business systems, and results of observation of these principles are shown.

Originality/value: Peculiarities of making of managerial decisions in modern business systems, predetermined by observation of the basic principles, are shown: constant monitoring of external environment for determining new possibilities and actual problems and determining the need for managerial decisions; founding on materials of marketing research, conduct of marketing communications for informing and supporting loyalty of interested parties in the process of implementation of decisions; and striving for increasing or at least preserving the uniqueness and effectiveness of business system during decision making (criterion of optimality of decisions).

Keywords

Citation

Bogoviz, A.V., Lobova, S.V., Ragulina, J.V., Alekseev, A.N. and Khachaturyan, A.A. (2019), "The Basic Principles of Functioning and Development of Modern Business Systems", Popkova, E.G., Chesnokova, A.V. and Morozova, I.A. (Ed.) Specifics of Decision Making in Modern Business Systems, Emerald Publishing Limited, Bingley, pp. 31-37. https://doi.org/10.1108/978-1-78756-691-020191005

Publisher

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Emerald Publishing Limited

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