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Book part
Publication date: 1 August 2019

Olesya A. Stroeva, Innara R. Lyapina, Elena V. Sibirskaya, Elena V. Petrukhina and Liubov V. Plakhova

The purpose of the chapter is to distinguish the process of formation of algorithm of making of managerial decisions in the age of constant changes. The methodology of the…

Abstract

The purpose of the chapter is to distinguish the process of formation of algorithm of making of managerial decisions in the age of constant changes. The methodology of the chapter includes the method of theoretical foundations, the method of theoretical differentiations of categorical tools, the method of algorithmization, and the method adaptive perception. The research results include the following theses: the problems of the research are current and important; categorical structure of definition “making of managerial decisions” is reflected within functions of management, the process of managerial activities, and decision making on the basis of the risk; actions on solving problems; the aspect of making of managerial decision is limited; authors' algorithm of making of managerial decision reflects rationality and irrationality of the formed situation. This article could be supplemented with practical recommendations in the sphere of making of managerial decisions.

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Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Book part
Publication date: 2 December 2019

Larisa A. Ilyina, Yuliya A. Panteleeva, Dmitry L. Skipin, and Alexandra N. Bystrova

The purpose of the research is to determine the signs of nonoptimality of managerial decisions that are made by Russian business systems and to determine the barriers on…

Abstract

Purpose

The purpose of the research is to determine the signs of nonoptimality of managerial decisions that are made by Russian business systems and to determine the barriers on the path of making of optimal decisions in business systems by the example of modern Russia and perspectives of overcoming them.

Methodology

The information and empirical basis of the research consists of statistical materials of the World Economic Forum, RIA Rating and Samuel Centre for Social Connectedness for 2018, according to which signs of nonoptimality of managerial decisions of Russian business systems, which are observed at the macro-level, are determined. During the research, the method of systemic, problem, and logical analysis (analysis of causal connections) and the method of formalization are used.

Conclusions

It is determined that drawbacks of the process of making of managerial decisions in modern Russian model of this process, connected to the functional organizational structure, low marketing activity, and underdevelopment of internal business communications, create barriers on the path of making of optimal decisions: high expenditures for making of managerial decisions, duration of the process of making of managerial decisions, high complexity of choice of alternative decisions, and incomplete accounting of possibilities and problems during decision-making.

Originality/Value

Perspectives of overcoming the determined barriers are connected to the usage of outsource during the making of managerial decisions, refusal from functional organizational structure of managerial staff, usage of means of authomatization of making of managerial decisions, and development of systemic feedback and marketing. According to the studied practical experience of the largest and well-known Russian business systems – Rosneft, Lukoil, Gazprom, and Sberbank – these perspectives (2018) are not implemented in Russia.

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The Leading Practice of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-83867-475-5

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Book part
Publication date: 1 August 2019

Tatiana N. Litvinova

Purpose: The purpose of the chapter is to determine the specifics of making of managerial decisions in business systems of modern countries of Europe, to compile a…

Abstract

Purpose: The purpose of the chapter is to determine the specifics of making of managerial decisions in business systems of modern countries of Europe, to compile a European model of decision making in modern business systems, and to determine its capabilities for ensuring optimal decisions.

Methodology: The authors use the method of systemic and problem analysis, the method of comparative analysis (for comparing the European practice of managerial decisions to practices of other regions of the world), and the methods of modeling and formalization.

Conclusions: A European model of making of managerial decisions in modern business systems is compiled; it has the following peculiarities: collective offering, discussing, and making managerial decisions; presence of independent marketing committee that conducts systemic marketing; internal communications of business entities only with the production committee; and sustainability of horizontal connections between committees with the linear organizational structure.

Originality/value: Due to determined peculiarities, such advantages of the European model as making of well-balanced managerial decisions from positions of all interested parties, low expenditures for decision making due to usage of internal outsource, high effectiveness of marketing activities, and integration of managerial staff that allows solving current problems of the business system are achieved. However, in the European model, the process of making of managerial decisions is the longest as compared to other studied regional models. That's why application of the European model of decision making in modern business systems allows achieving high effectiveness of this process in a period of stability, and in case of downward wave of economic cycle, this model cannot ensure high effectiveness of managerial decisions.

Details

Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Book part
Publication date: 1 August 2019

Margarita V. Melnik, Tatiana V. Skryl, Elena A. Gureeva, Irina F. Vetrova and Aleksandr V. Vetrov

Purpose: The purpose of the chapter is to determine the regularities and tendencies of decision making in business systems by the example of modern Russia.Methodology: The…

Abstract

Purpose: The purpose of the chapter is to determine the regularities and tendencies of decision making in business systems by the example of modern Russia.

Methodology: The method of logical analysis (analysis of causal connections) and the method of dynamic analysis of development of socioeconomic systems are used. These methods are applied with the current statistical and analytical information. The information and analytical basis of the research is the materials of the Federal State Statistics Service for 2018.

Conclusions: The factors of functioning and development of modern business systems, related to development of E-commerce, liberalization of state regulation of business systems, growth of their competition and corporate responsibility, change of technological mode, and crisis are determined. Influence of these factors on managerial decisions is connected to reduction of resource provision of business systems, accessibility of new managerial tools, complication of made decisions (growth of the number of accessible decisions), growth of the number of new technologies of decision making, and increase of the risk component of decisions. Regularities and tendencies of decision making are determined: striving for saving resources during decision making, more active usage of new managerial tools during decision making, striving for acceleration of the process of making of more complicated managerial decisions, more active usage of new technologies during decision making, and striving for minimization of risks of made decisions.

Originality/value: It is substantiated that the determined regularities and tendencies of decision making lead to increase of contradiction during making of managerial decisions in modern business systems, connected to growth of complexity of this process and simultaneous reduction of resources and time that are accessible to business managers. In order to solve this contradiction, it is necessary to implement cardinal changes into the process of making of managerial decisions in modern business systems, which allow – with minimum managerial cost – determining multiple alternative variants of solutions of the whole specter of current problems of a business system and comparing them as to mutually excluding criteria, thus making complex decisions.

Details

Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Book part
Publication date: 1 August 2019

Irina A. Morozova, Alina V. Chesnokova, Olga V. Fetisova and Liudmila S. Maksimenko

Purpose: The purpose of the work is to study the characteristics of leadership and to determine its value in the process of decision making in modern business systems, as…

Abstract

Purpose: The purpose of the work is to study the characteristics of leadership and to determine its value in the process of decision making in modern business systems, as well as to determine the possibilities of increasing the effectiveness of this process through changing the characteristics of leadership.

Methodology: Target study of the influence of leadership on the process of decision making in modern business systems on the basis of the methodology of the systemic approach is performed, and two additional characteristics of leadership are determined, apart from management style, in the aspect of making of managerial decisions: contradiction of leaders in business system and authority of a formal leader (business manager) in business system and his competence as to involvement of employees into the process of making of managerial decisions, which includes capabilities. Depending on combination of these characteristics, classification of leadership in modern business systems as to criterion of decision making is offered.

Conclusions: It is substantiated that the most preferable type of leadership in a modern business system as to criterion of decision making is highly effective involvement of employees in the process of making of managerial decisions. Capabilities of increasing the effectiveness of the process of making of managerial decisions in a modern system through changing the characteristics of leadership are connected to transition to this type of leadership through overcoming the contradiction of leaders in a business system and increase of competence of the formal leader (business manager) in a business system as to involvement of employees in the process of making of managerial decisions through his training.

Originality/value: It is substantiated that leadership in business system determines only certain characteristics of the process of making of managerial decisions, and no type of leadership can guarantee optimal decisions. With highly effective involvement of employees in the process of making of managerial decisions, the probability of optimal decisions is the highest, so this type of leadership is the most perspective for modern business systems.

Details

Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Book part
Publication date: 2 December 2019

Sergey V. Shkodinsky, Elena A. Kondratyeva, Igor V. Bulava, Igor V. Chistov and Sergey E. Zakutnev

The purpose of the research is to determine perspectives and spheres of application of innovational managerial technologies of decision-making in the sphere of digital…

Abstract

Purpose

The purpose of the research is to determine perspectives and spheres of application of innovational managerial technologies of decision-making in the sphere of digital medicine in modern business systems in the interests of improvement of the healthcare system.

Methodology

The methods of systemic, problem, logical, and structural & functional analysis and the methods of modeling of economic processes and systems and formalization are used.

Conclusions

It is shown that the most perspective innovational managerial technologies include digital marketing, digital collection of feedback, digital selection of models of managerial decisions, intellectual technologies of decision support, and digital monitoring and control over making and implementation of managerial decisions. The spheres of application of digital technologies in the sphere of digital medicine include collection of feedback from patients, collection of feedback from medical workers, usage of successful experience of other medical organizations, automated selection of managerial decisions, automated selection of the optimal decision of the existing alternatives according to the set criteria, and electronic reports of medical organizations and its administration.

Originality/Value

Wide opportunities of usage of innovational managerial technologies of decision-making in the sphere of digital medicine in modern business systems are determined; they allow improving the healthcare system. These technologies could be applied at all stages of the process of making of managerial decisions. A conceptual model of application of innovational managerial technologies of decision-making in the sphere of digital medicine in modern business systems is developed.

Details

The Leading Practice of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-83867-475-5

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Book part
Publication date: 2 December 2019

Larisa A. Ilyina, Vladimir S. Tikhonov, Yuliya S. Sakhno and Natalia V. Viktorova

The purpose of the research is to develop a universal mechanism of highly effective decision-making in modern business systems in any business environment.

Abstract

Purpose

The purpose of the research is to develop a universal mechanism of highly effective decision-making in modern business systems in any business environment.

Methodology

The methods of logical analysis, modeling of managerial processes, and formalization are used.

Conclusions

A universal mechanism of highly effective decision-making in modern business systems is developed – it could be applied in any business environment and any business system. The mechanism is based on the interactive algorithm of decision-making in modern business systems that allows adapting the process of decision-making to the current situation in the business system and the business environment in view of the changing complexity of problems and criteria of optimality of managerial decisions. The tools of implementing the mechanism are outsource, mediation, and intellectual support for managerial decisions. These tools are used as an addition to traditional tools – organizational structure, organizational culture, and leadership. The result of implementing the developed mechanism is high probability of making of optimal managerial decisions and supporting sustainability and stability of the business system.

Originality/Value

The developed mechanism of highly effective decision-making in modern business systems allows selecting the best model of decision-making depending on current needs and possibilities of the business system instead of following one selected model in all situations. That is, the key advantage of this mechanism is its interactive character, which ensures high flexibility of the process of making of managerial decisions together with sustainability of the business system.

Details

The Leading Practice of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-83867-475-5

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Book part
Publication date: 1 August 2019

Olga G. Tretyakova, Olga P. Osadchaya, Elena I. Kostyukova, Mikhail V. Sirotenko and Irina V. Gimelshtein

Purpose: The purpose of the work is to study the essence and to determine the algorithm and methodology of decision making as a choice of the existing alternatives…

Abstract

Purpose: The purpose of the work is to study the essence and to determine the algorithm and methodology of decision making as a choice of the existing alternatives according to the scientific approach to this process of management of modern business systems.

Methodology: The research is conducted with the help of the method of process analysis, which allows determining the stages of the process of decision making in modern business systems and determining its algorithm; the method of formalization, which allows presenting the obtained algorithm; and the method of comparative analysis, which allows comparing the existing methods of decision making as a choice of the existing alternatives.

Conclusions: As a result of generalization and systematization of the existing scientific knowledge in the sphere of managerial decisions in modern business systems and reconsideration (logical analysis) of this process, its algorithm is compiled. Four stages of the algorithm of making of managerial decisions in modern business systems are distinguished – determining the needs of business system for managerial decisions, determining the possibilities of business system in making of managerial decisions, compiling alternative variants of managerial decisions, and implementation of the made managerial decision and further evaluation of its optimality. Also, methodological tools of each stage are determined.

Originality/value: The developed algorithm possesses the following advantages as compared to the existing scientific descriptions of this process: completeness, complex solution of the problems of the business system through managerial decisions, connection of the methodology of managerial decisions to each stage of the algorithm, and systemic character of the methodology of decision making as a choice of the existing alternatives.

Details

Specifics of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-78756-692-7

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Article
Publication date: 1 August 1993

E. Frank Harrison

Takes the view that managerial decisions are made in a diversity oforganizational settings which can best be explained and evaluated in thecontext of conceptual…

Abstract

Takes the view that managerial decisions are made in a diversity of organizational settings which can best be explained and evaluated in the context of conceptual interdisciplinary decisionmaking models, and that such models constitute an appropriate vehicle for explaining the eclectic aspects of managerial decision making in all types of formal organization. Presents a typology of conceptual decisionmaking models and evaluates their similarities and differences along with their respective efficacies in various managerial decisionmaking contexts. Advances the process model of managerial decision making as the ideal choice for decisions which have significant long‐term consequences for the whole organization.

Details

Management Decision, vol. 31 no. 8
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 2 December 2019

Olga G. Semenyuta, Irina V. Orobinskaya, Neonila M. Shiryaeva and Yuliya A. Kruchanova

The purpose of the chapter is to determine the perspective directions of improving the process of decision-making in business systems by the example of modern Russia.

Abstract

Purpose

The purpose of the chapter is to determine the perspective directions of improving the process of decision-making in business systems by the example of modern Russia.

Methodology

The scientific and methodological platform of this research is the Russian model of decision-making in modern business systems. For determining the perspective directions of improvement of the process of decision-making in business systems according to this model, the methods of systemic and problem analysis, modeling, and formalization are used.

Conclusions

It is shown by the example of modern Russia that perspectives of improving the process of decision-making in business systems are connected not to usage of alternative regional models of this process but to modernization of own models by usage of new organizational tools and innovational technologies. The perspective directions of improving the process of decision-making in business systems of modern Russia include development of systemic feedback and marketing with the help of outsource, increase of flexibility of organizational structure with the help of mediation, and usage of means of authomatization of managerial decisions with the help of intellectual technologies.

Originality/value

The compiled improved Russian model of decision-making in a modern business system showed the advantages of practical implementation of the offered perspective directions, connected to the most complete solution of the problem and implementation of possibilities of the business system, accelerated practical implementation of managerial decisions, and reduced the load on business managers. The presented example of improving the Russian model of managerial decisions in modern business systems reflects the possibilities and perspectives of improving other regional models.

Details

The Leading Practice of Decision Making in Modern Business Systems
Type: Book
ISBN: 978-1-83867-475-5

Keywords

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