Managerial Decision-making Research Articles

Implementation of communicative approach to managerial decision-making

Implementation of communicative approach to managerial decision-making

A refined decision-making method for orderly power consumption in virtual power plants considering load characteristics

Abstract In recent years, electricity consumption has been increasing, while the supply of electricity is relatively lagging, and power shortages often occur. Therefore, the management of organized power consumption is an urgent task for the current power industry. Based on the characteristics of power load, this paper constructs a decision-making management framework for orderly power consumption by considering four aspects: generation, grid side, demand side, and social benefit. Through the various types of flexible load resources aggregated within the virtual power plant, it participates in regulating its power, effectively reduces the peak-valley difference, and realizes refined, orderly power consumption management. Finally, based on the multi-objective optimization model, refined decision-making for orderly power consumption with the participation of virtual power plants is constructed and compared to traditional decision-making for orderly power consumption. The results show that compared with conventional decision-making, the peak-to-valley difference is reduced by 8.7789 WM, the economic benefit of the power enterprise is improved by 228,300 yuan, and customer satisfaction is enhanced by 0.1613, which verifies the effectiveness of the decision-making method of the sequential power consumption in this paper.

Development of information support of the decision-making management system for emergency prevention based on distance video systems

The possibilities of identifying combustion from the mobile observation point located on an unmanned aircraft are considered. A qualifying sign of frequency fluctuations in the region of combustion was derived and presented in the form of a program filter of vyvyl-analysis in the temporary area. The frequency characteristics of the detectors and experimental data used in fire detectors were compared. A stable correlation was obtained confirming the conformity of the hypothesis existing tested data. It is proposed as a sign of defining burning to use the frequency of the color of the color of the pixels from the gama of fire to the color of the underlying surface. It is experimentally determined that combustion corresponds to the range from 12 to 30 Hz. The work takes into account the dynamic location of the observation point on an unmanned aircraft. The boundary conditions of the operation of the aviation system allowing to obtain relevant data for analysis are described.

The Roles of Strategic Leadership in Ensuring Sustainable Competitive Advantage: Empirical Evidence from Pharmaceutical Distribution in Emerging Markets

This research addresses the crucial yet underexplored area of strategic leadership roles in enhancing sustainable competitive advantage in the pharmaceutical distribution sector of emerging markets, particularly focusing on South Africa. The relevance of this study lies in its exploration of strategic leadership within a sector experiencing significant growth and global competition, specifically in the context of emerging markets where such investigations are scarce. The primary aim is to delineate strategic leadership roles crucial for fostering sustainable competitive advantage in this sector. The choice of the pharmaceutical distribution sector in South Africa as the research object is due to its dynamic nature and the unique challenges it presents in emerging markets. This study covers a significant period that reflects the evolving dynamics of the industry. Utilising a qualitative research methodology, the study involves in-depth interviews with 10 strategic leaders in South African pharmaceutical distribution firms. This approach provides a robust informational and statistical basis for the research. Through thematic analyses, the research uncovers five key strategic leadership roles: setting strategic direction, managing business complexity, promoting organisational structure, managing organisational culture, and developing human resources. These roles are pivotal in establishing and maintaining a sustainable competitive advantage in the pharmaceutical distribution industry in emerging markets. The study confirms the hypothesis that effective strategic leadership is vital for achieving sustainable competitive advantage. It reveals specific trends and quantitative regularities in leadership strategies that contribute to this goal. This research offers substantial practical significance for managerial decision-making in the pharmaceutical distribution industry, particularly in emerging markets. Its insights are crucial for leaders aiming to create and sustain competitive advantage, thereby contributing to the industry’s growth and stability. Furthermore, it lays a foundation for future investigations across various contexts within the pharmaceutical sector and different leadership perspectives.

Creating information about business processes of IT-company in management accounting

Introduction. Formation of information about business processes in the management accounting system will help to avoid the deforming transformations of individual processes and sharp dynamic fluctuations in key business performance indicators. For a clear understanding of the need to optimize each process in the management accounting system, there is an opportunity to form a series of indicators that will demonstrate in real time the growth in business value and its real state. For IT companies, it is necessary to take into account the peculiarities of their organization and the construction of business processes, the identification of a series of indicators to identify «bottlenecks» and determine processes that need optimization and reengineering. The purpose of the study is to explore and analyze methods of creating information about business processes in IT companies.
 Research methods. To conduct scientific research in the article, the following were used: monographic analysis to study scientific works on the topic of research; critical analysis – assessment and comparison of approaches, methods, and results of previous studies; case study methodology – studying the practice of management accounting in IT companies; data analysis and statistical analysis, content analysis, and expert evaluations to obtain results.
 Results. The article highlights the processes of analysis and description of business processes, identification of key performance indicators, and integration of technologies for optimizing work. In the management accounting system, it is proposed to introduce a coefficient measure of business size, evaluate different product models, predict increases/decreases in efficiency, forecast the impact of the external environment, and form relevant information for managerial decision-making.
 Prospects. Promising directions for the development of research are issues of effective resource management, methodologies for systematic analysis of business processes, and improvement of strategic planning.

Theoretical Approaches Before the Adoption of Administrative Decisions in the Area of Public Administration

The article is devoted to the problem of researching theoretical approaches to the process of making managerial decisions in the field of public administration. It is noted that considering the process of making managerial decisions as an object of public management, it is emphasized that the decision-making process is multi-level. Such are the models and concepts on the basis of which decision-making can be explained, and which are multidimensional and interdisciplinary in their content. It is important to emphasize that decision-making is often perceived as a deliberative process that can be both rational and irrational, based on well-stated or only implicit assumptions Most scientific sources present a traditional linear concept of decision making, in other words, a sequence of steps is presented that helps the decision maker to make the best decision. There are many formal decision-making models, but it can be argued that the basis of managerial decision-making theories are the three most important and widely known theories of such decision-making, which emphasize the intellectual activity of decision-makers and the procedural aspect - the theory of rational complexity, the theory of incrementalism and mixed scanning theory. Touching upon the conditions and criteria of the managerial decision-making process in public administration, it is worth noting that there are many theories of decision-making, most of which have a descriptive element, that is, how decisions should be prepared, and normative guidance on how decisions should be made. Each of these approaches offers a framing mechanism and describes fundamental decision-making issues. Thus, the preparation of decisions in public administration is directly related to legislation, as they are limited and influenced by various factors and conditions, therefore absolutely objective decisions do not exist in public administration, there are only less subjective and more subjective decisions . It was concluded that management decision-making is one of the most difficult issues in the process of functioning of public administration, since management decision-making is influenced by many different factors and processes. Most of the models that explain management decision-making are descriptive and aim to emphasize the quality of information processing necessary for management decision-making. No single method of managerial decision-making can be singled out as the best, because different circumstances, different values of those who make managerial decisions, different goals or methods of managerial decision-making, and the situation in an organization or institution are different in each situation. It can be argued that rational or stepwise management decision-making methods are better in some situations, and mixed-scan management decision-making methods or a combination thereof in others.

MANAGEMENT SOLUTIONS FOR THE INNOVATIVE DEVELOPMENT OF ENTERPRISES USING A CONTROLLING SYSTEM WITH INFORMATION AND ANALYTICAL SUPPORT

The subject of the study is the controlling system in an organisation, which is necessary for information support of the management decision-making process. Methodology. The research applied the methods of economic research: monographic method (when processing scientific sources and reviewing thematic literature); scientific abstraction and generalisation (when studying various methodological approaches to support processes of management decision-making); abstract-logical method (when substantiating key factors that have an impact on processes of management decision-making in the organisation, formulating conclusions of the research conducted); methods of analysis and synthesis (when justifying the phasing of the process of making and implementing management decisions based on innovative development). The purpose of the publication is to substantiate directions for improving the process of making managerial decisions by improving the controlling support. Conclusion. The controlling process is an important function and stage of the management process in general and of the organisation's management decision-making in particular. The information support of the controlling system is of great importance for the formation of analytical support for the decision-making process. The strategic vector of the organisation's development in the current and future conditions is the innovation component, which must be taken into account when making, implementing and monitoring the implementation of management decisions. In addition to the innovative component, the management decision-making process must take into account external and internal factors of the company's activity, which must be subject to constant monitoring and control. In order to increase the validity of management decisions, it is necessary to have a controlling system in the management of innovative processes based on an innovative anticipatory element. The paper offers a model of managerial decision-making with the use of controlling support, which is aimed at increasing the competitiveness of an organisation on the basis of innovative development.

Peran Manajemen Pengambilan Keputusan di Sekolah

Decision making is an activity carried out by a person or group to choose an option from several available options based on consideration and evaluation of existing information. The purpose of this research is to find out how the role of decision-making management in schools. The results found that decision-making management is very important because decision-making will determine the direction, quality and effectiveness of education in the school.

Risk Management Strategy for International Investment Projects of an Innovative Enterprise in the Context of Industry 4.0

"The significance of risk management within the framework of Industry 4.0 is on the rise, particularly within the realm of international investment projects. Contemporary technological advancements, such as artificial intelligence and blockchain, are not only ushering in fresh prospects but are also instigating the emergence of novel categories of risks. The primary objective of this investigation is to formulate an all-encompassing strategic risk management framework tailored to innovative enterprises operating within the purview of Industry 4.0. The envisaged research endeavour encompasses a thorough scrutiny of existing methodologies and models, along with an exploration of contentious dimensions within this domain. The study’s findings encompass criteria for the evaluation and quantification of risks, in addition to pivotal risk factors that exert notable influence on the efficacy of international investment projects. The pragmatic import of this investigation resides in its potential utility for enhancing managerial decisionmaking across various tiers of the organizational hierarchy. The presented material seeks to facilitate the alignment of conventional risk management approaches with the intricacies inherent in Industry 4.0. Nonetheless, it is imperative to acknowledge that the efficacy of the formulated model may hinge upon contextual nuances and might necessitate supplementary adaptations."

The Role of Technology and Accounting Information Systems in Improving the Operational Activities of MSMEs

The Role of Technology and Accounting Information Systems in Improving the Operational Activities of MSMEs

INFLUENCE OF SOCIAL AND PSYCHOLOGICAL FACTORS OF INFORMATION ACTIVITY ON MANAGERIAL DECISION-MAKING

The purpose of the article is to carry out a comprehensive analysis of socio-psychological factors of information activity and to find out their influence on managerial decision-making. The methodological basis of the study is general scientific and special methods for studying the problem, in particular, analysis and synthesis, induction and deduction, generalization and abstraction, survey-analytical and classification methods, as well as description and comparison, which help to achieve the goal. The set of the methods made it possible to determine the role of socio-psychological factors of information activity, attitudes and stereotypes in the preparation and implementation of effective management decisions. The scientific novelty of the work lies in the generalization of the main approaches to the problem of ensuring effective managerial activity, adequate perception of information and making informed decisions in the informational sphere. The authors have stated that effective management activity should be based on the awareness of real socio-psychological phenomena that accompany the economic, political and spiritual-ideological processes of social development, on taking into account the ratio of the management efforts of the authorities and the internal trends of the development of society, on knowledge of the psychological features of individual and group behaviour, psychological foundations of managerial communication and the implementation of managerial influence. Conclusions. The study has proved that the effectiveness of the organization depends on the correctness of decisions. The most likely directions of application of the achievements of personality psychology in the field of information activity have been proposed. Intuitive, rational and judgmental approaches to the decision-making process have been characterized. A certain dependence between the types of decisions and the approaches to their adoption has been determined. The mechanism of group influence on the behaviour of an individual and collective decision-making has been considered and an effective way to overcome this phenomenon has been proposed. The main stages of decision-making have been characterized and the problems that arise at each of the stages have been identified. The main mistakes that managers make in the process of information activities and preparing decisions have been named. It has been noted that the process of effective decision-making is significantly influenced by objective and subjective factors. The authors have emphasized that necessary and sufficient condition for the effective solution of a specific problem is the presence of the decision-maker’s characteristics that are part of an objective set of psychological qualities, in particular the level of knowledge for assessing the situation, skills for solving similar problems, the ability to find a way out of the situation taking into account external and organizational conditions, the ability to predict the outcome of one’s activities and determine one’s attitude to the problem. Keywords: information, information activity, psychological mechanisms, socio-psychological factors, managerial decisions.

Trade-offs in stakeholder theory: an ordonomic perspective

PurposeStakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.Design/methodology/approachThis paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.FindingsThe ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.Originality/valueFor many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.

COVID-19 infections and short-run worker performance: Evidence from European football

COVID-19 infections represent a recurrent source of workplace absenteeism impacting labour productivity. Using a unique matched employee-employer dataset, we consider the effects of the virus on the performance of highly valuable employees when returning to work: professional footballers in the top five European leagues. This offers a window to study job scheduling and managerial decision-making. We employ a difference-in-differences (DiD) model that compares the performance of infected players to a matched control group for game tasks that require physical exertion. Results suggest that per-minute performance is unaffected upon returning to play. This is likely due to effective management of minutes on the pitch. We carry out a battery of checks on the primary results to consider causal mechanisms outside of infection that could impact the results such as lockdown breaks, clusters within squads, and scheduling effects. The findings carry an optimistic message and specifically speak to managers supervising physical labour. If appropriately managed, infected workers can return to past performance levels.

Analysis of Factors That Influence Delays in Submitting Financial Reports and Their Impact on Market Reactions: A Literature Review

This research aims to analyze the influence of company size, profitability, leverage, and liquidity in influencing the timeliness of reporting and analyze market reactions to delays. The literature review method has used databases such as Sinta and Scopus for the last ten years. The research results show that company size can influence delays. The findings suggest that the relationship between firm size and delay is contextual. Good financial performance speeds up reporting, while leverage and solvency play a significant role. Delays hurt market reactions, triggering declines in stock prices and investor confidence. This research contributes to understanding factors that influence the timeliness of reporting, providing insight for management and investors for better decision-making.

Особенности моделирования функционирования ВУЗов как сложных организационных систем силовых структур

The article considers an approach to solving the problem of improving the indicators characterizing the state of the educational group of a modern university, which is currently difficult to imagine without the use of systems operating on the basis of mathematical models of SED. The elements of assessing approaches to improving the effectiveness of management decision-making are considered, which cannot always be characterized quantitatively. To increase the effectiveness of the R&D, it is proposed to use methods and tools that implement a quantitative assessment of the state of the management system, which is able to justify the decision made. When modeling managerial decision-making in complex organizational systems of law enforcement agencies, a conceptual approach is proposed that is based on situational modeling and provides information to the decision-maker in this system about his current state. Based on this situational information, the decision-maker will make recommendations in the interests of situational management and ensure its adaptation to real needs. The situational approach uses a set-theoretic representation of models, which will allow combining the spatial and structural interpretation of this model. Determining the relationships between employees in complex organizational systems of law enforcement agencies will allow you to link tasks with employees based on input-output information flows using a multi-criteria assessment of alternative.

Разработка математической модели оптимизации и применение методов динамического программирования в задаче управления учебной группой процесса обучения курсантов силовых структур в высших учебных заведениях

This article discusses the problem of developing a mathematical model and applying dynamic programming methods to improve the effectiveness of the training process for students in the interests of law enforcement agencies of the Russian Federation in subordinate higher educational institutions, which, within the framework of this article, are considered as a complex organizational system. Currently, due to the existential challenges presented to our country, it is necessary to solve more multifaceted professional tasks by employees of law enforcement agencies in their practical activities. All this requires advanced professional training for solving professional tasks by law enforcement officers who study at higher educational institutions. The training of law enforcement officers in higher education institutions, like any complex organizational system, depends on the objective and subjective parameters that affect the functioning of this system. To this end, in order to increase the effectiveness of managerial decision-making in the process of training cadets of law enforcement agencies, heads of higher educational institutions responsible for improving the quality of the educational process should introduce information systems into the activity that operate on the basis of a mathematical apparatus describing the model of preparing students to perform professional duties. The development of mathematical models involves the use of the apparatus of the theory of operations research, as well as the theory of Markov random processes, in particular, the description of functioning based on processes with discrete states and continuous time and using game theory in order to achieve the necessary practical results is considered.

Optimisation models and the economics of managerial decision-making

Making optimal decisions is a process whose aim is to select the best solution from the perspective of efficiency, economy and rationality. This process includes a group of logically related mental and computational operations. They lead to the selection of the best possible decision-making option. To optimize decision-making processes and increase their quality, various methods and techniques based on mathematics and statistics are used. Decision-making is a basic condition for solving management and economic problems in an organization, whether traditional, process-based or project-based. Rational models, where the issue of rationality in the decision-making process is considered in relation to: conditions and assumptions that must be met in order for decisions to be classified as rational, practical recommendations (how a rational manager should act), model approaches to decision-making processes (how how decision-making processes should proceed). Behavioral models of bounded rationality. Here, the decision-maker follows the rules of full rationality, but is not "perfect" in his tasks. He is prevented from acting fully rationally by certain limitations: cognitive, motivational, organizational or emotional. Heuristic models - they assume a complete departure from full rationality, present real decision-making processes, akin to the "double process" mozel - integrate an approach oriented on rational analysis with an approach oriented on intuition

Does ownership structure influence carbon emission? Different roles of institutional investors

This study seeks to understand the impact of different ownership structures on carbon emissions. We use data from listed firms in Japan, where the government requires firms to disclose the volume of carbon they emit. Our empirical findings are summarized as follows. First, the cross-sectional analysis reveals that firms with foreign institutional investors tend to emit less CO2. In contrast, we do not find evidence that domestic institutional investors reduce carbon emissions. The results are robust under various alternative estimations, such as firm-fixed effects, propensity score matching, and IV (instrumental variable) estimation; they are also robust when the enactment of Principal Responsible Investment (PRI) by the United Nations is included as an exogenous shock. While various studies have examined the factors affecting a firm’s carbon emissions, few studies examine the influence of its ownership structure. We focus on firm ownership structure, especially ownership by institutional investors, because of their substantial impact on managerial decision-making.

Management Accounting in the Malaysian Public Sector: Analysing the Adoption of Financial and Risk Analysis

Purpose: This paper aimed to analyse the introduction of financial analysis and risk management for internal decision-making in the Malaysian public sector and determine the limitations/ gaps as well as areas for improvement. Design/ Methodology/ Approach: The paper was based on the analysis of documents, government circulars and guidelines pertaining to financial statement analysis and risk management, including interviews with officers at two ministries. Findings: Policy and guidelines were established for financial analysis and risk management in the Malaysian public sector. However, given the complexities and unique context of each ministry, there is a need for clearer and more context-specific guidelines regarding financial and risk analysis. It is also crucial that the conducted financial and risk analyses are relevant and meet the specific needs of public sector entities. The usefulness of information relies on a comprehensive understanding of the context and types of decision needed. Therefore, fostering collaboration and engagement between the management accountant unit and other key units within a ministry is crucial to conduct an effective financial and risk analysis. Originality/ Value: This study offered insights into the financial and risk analysis reporting framework and its implementation in the Malaysian public sector. Keywords: Management accounting, public sector accounting, financial statement analysis, risk management, public sector accountants.

The effect of retailer CSR and consumer environmental responsibility on green consumption behaviors: mediation of environmental concern and customer trust

PurposeGrowing environmental issues worldwide need the engagement of all stakeholders to compliance with the decisions of global leaders made at COP21 and COP26. In this regard, the present study looks at the influence of retailer social responsibility and consumer environmental responsibility by reinforcing consumer’s green consumption behaviors. Similarly, the proposed study incorporates the mediating role of customer trust and environmental concern to understand whether retailer corporate social responsibility and consumer environmental responsibility strengthen green consumption behavior.Design/methodology/approachMultiple hypotheses have been developed in light of the theoretical analysis of the available literature. The information was gathered through a survey method. A web-based portal was used to administer the survey, and 340 useable responses were processed by SPSS 23.0 and AMOS 23.0 for experiential analysis. First, the validity and reliability were evaluated. The authors then tested potential relationships using structural equation modeling.FindingsSurvey data analyzed using the SEM approach reveal that consumer environmental responsibility and retailer CSR does not drive green consumption behavior directly. However, green concern and consumer trust mediates the relation of consumer environmental responsibility and retailer CSR towards green consumption behavior. Another mediating path was also tested through environmental responsibility and green concern among retailer's CSR and green consumption behavior. The outcomes of this path are also significant.Practical implicationsThe study holds promising implications for green consumption behaviors. The following can be achieved by implementing more sustainable supply chain strategies, such as lowering carbon footprint, purchasing eco-friendly goods and supporting environmental causes through retailers and consumers as well.Originality/valueThis study investigated the joint contribution of retailer CSR and environmental responsibility to green consumption for the first time. The work strengthens the body of knowledge in the field of managerial decision-making and creates new directions for scholarly investigation.