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1
Wibowo, Santoso, and Srimannarayana Grandhi. "Benchmarking knowledge management practices in small and medium enterprises." Benchmarking: An International Journal 24, no. 5 (2017): 1215–33. http://dx.doi.org/10.1108/bij-01-2016-0013.
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Purpose The purpose of this paper is to formulate the process of measuring and benchmarking the performance of knowledge management (KM) practices as a multicriteria group decision-making problem and present a new multicriteria group decision-making approach for effectively evaluating the performance of KM practices to meet the interests of various stakeholders in small and medium enterprises (SMEs). Design/methodology/approach A new multicriteria group decision-making approach is developed for evaluating the performance of KM practices of individual SMEs. Intuitionistic fuzzy numbers are used for representing the subjective assessments of decision makers in evaluating the relative importance of the evaluation criteria and the performance of individual KM practices with respect to specific evaluation criteria. A fuzzy multicriteria group decision-making algorithm is developed for measuring and benchmarking the performance of alternative KM practices. Findings The proposed multicriteria group decision-making approach is capable of effectively evaluating the performance of KM practices through adequately considering the presence of multiple decision makers, the multi-dimensional nature of the evaluation problem, and appropriately modeling the subjectiveness and imprecision of the evaluation process. The presentation of an example shows that the proposed fuzzy multicriteria group decision-making algorithm is simple to use and efficient in computation. Research limitations/implications The outcome of the multicriteria group decision-making approach is highly dependent on the inputs provided by the decision maker. Practical implications The novelty from this research lies in the utilization of a multicriteria group decision-making approach for evaluating the performance of KM practices in an organization. The outcome from the performance evaluation process allows the enterprise to adopt appropriate KM practices for achieving competitive advantages. Social implications The proposed multicriteria group decision-making approach has a significant social implication as it can be used as a decision-making tool for providing various decision makers in SMEs with useful and strategic information concerning the performance of KM practices in a given situation. Originality/value The originality of this paper lies in the development of the multicriteria group decision-making approach for effectively measuring and benchmarking the performance of KM practices of individual SMEs.
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Bernardino, Jorge. "Open Business Intelligence for Better Decision-Making." International Journal of Information Communication Technologies and Human Development 5, no. 2 (2013): 20–36. http://dx.doi.org/10.4018/jicthd.2013040102.
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Decision-making is a crucial, yet challenging task in enterprise management. In many organizations, decisions are still made based on experience and intuition rather than on facts and rigorous approaches. This is often due to lack of data, unknown relationships between data and goals, conflicting goals and poorly understood risks. The success of organizations depends on fast and well-founded decisions taken by relevant people in their specific area of responsibility. Business Intelligence (BI) is a collection of decision support technologies for enterprises aimed at enabling knowledge workers such as executives, managers, and analysts to make better and faster decisions. In this paper, the authors review the concept of BI as an open innovation strategy and address the importance of BI in revolutionizing knowledge towards economics and business sustainability. The main objective is to discuss why the concept of BI has become increasingly important and presents some of the top key applications and technologies to implement open BI in organizations, which would like to enter into the new market and operate on a global scale.
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Tan, Yong Jie. "Application of Intelligent Decision Support System in Enterprise Management." Advanced Materials Research 709 (June 2013): 740–43. http://dx.doi.org/10.4028/www.scientific.net/amr.709.740.
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Decision-making in the process of business operations is a more complex management task and is a core part of enterprise management. With the continuous development of the social economy, the living environment of enterprises is increasingly complex and the competition among enterprises becomes increasingly fierce. Intelligent Decision Support System is a new information technology that can provide information and solutions for enterprise management, help managers quickly process information, reduce their burden of work, and enhance managers efficiency and quality of decision-making.
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Joosub, T., and D. Coldwell. "Factors driving the location investment decision of South African MNEs: Senior executives’ perceptions." Southern African Business Review 20, no. 1 (2019): 492–529. http://dx.doi.org/10.25159/1998-8125/6061.
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As trade barriers fell, South African enterprises faced new competition in their previously protected home market. With established markets becoming saturated, multinational enterprises (MNEs) steered towards emerging markets abroad. Geographically, South Africa is an intrinsic part of Africa, and psychic distance, defined as consisting of, inter alia, differences in language, culture and business practices, can disturb the flow of business between an enterprise and the world. Physical proximity to countries makes it easier for enterprises to understand the culture and business practices, and reduces the uncertainty and risk of the new market. Perceived distance into Africa and elsewhere is also influenced by the specific consumer attributes and behaviours. Enterprises perform best in foreign markets where consumer behaviour is most receptive to a company’s goods and services. The study empirically investigated perceptions of psychic distance and foreign consumer factors in FDI decision making by senior executives of South African MNEs. The findings suggest that psychic distance is relatively unimportant and foreign consumer factors relatively important in FDI decision making
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Otenko, V. I., and A. M. Hamiie. "The Instrumental Means of the Strategic Decision-Making in the Business Activities of Industrial Enterprises." Business Inform 12, no. 515 (2020): 417–22. http://dx.doi.org/10.32983/2222-4459-2020-12-417-422.
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The results of recent studies of the processes of domestic enterprises prove the need to focus on decision-making in conditions of high uncertainty, institutional restrictions and interests of interested groups influencing the adoption of the strategically important decisions. The authors propose to consider the strategic decision as a result of collective choice as to means and actions that meet the principles of corporate management and the interests of the main groups – participants of corporate relations to achieve strategic goals. From such positions, the types of strategic decisions are grouped according to the following signs: purposefulness and content of the issues to make up decisions; organizational model of decision-making; completeness of knowledge and ways of their application by decision-makers. The results of a comprehensive analysis of the state and prospects of enterprise development are presented in order to study the peculiarities of strategic decision-making at the enterprises of the machine-building industry according to their allocated signs. The technology of comprehensive analysis of the strategic decisions of enterprises consists of stages and an evaluation-analytical instrumentarium – indicators and criteria, methods of evaluation, analysis and interpretation of results. The built up system of indicators corresponds to the functional spheres of the enterprise according to the criteria of financial-economic stability, production efficiency, effectiveness of marketing activities and efficiency of use of staff. The defined criteria and indicators act as rational basis for the development, comparison and choice of alternatives to development, substantiation of strategic decisions of enterprise. As a result of the carried out cluster analysis according to the computed generalized performance indicators of 18 machine-building enterprises of Kharkiv region, clusters of enterprises, development strategies and identical strategic solutions for each cluster of enterprises are allocated as follows: technical and technological development (product renewal, expansion of sale markets and search for new ones, restructuring of production capacities) and ensuring the sustainability of the financial-economic condition (through consolidation and movement of capital, saving, costs reduction, search for additional sources of income, recovery of assets).
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He, Weifeng, Liping Chen, and Wei Liu. "Does new performance appraisal system (EVA) affect earnings management?" Nankai Business Review International 11, no. 2 (2020): 191–216. http://dx.doi.org/10.1108/nbri-10-2019-0051.
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Purpose Currently, most research studies focus on ownership reforms and governance reforms, while only a few research studies focus on management system innovations. Based on an evolution of state-owned enterprises’ (SOEs) performance appraisal systems, this paper investigates the influence of performance appraisal system on earnings management. Design/methodology/approach Using a natural experiment that central government-owned enterprises (CGOEs) carried out economic value-added performance appraisal (EVA-PA) in 2010, the authors adapt difference-in-difference method to analyze the relationship between EVA-PA and earnings management choice. Furthermore, the authors consider the situation which contained financial status, separation between decision-making rights and decision-control rights, separation between ownership and control and industrial characteristics. Findings The research finds that after carrying out EVA-PA, CGOEs prefer accrual-based earnings management to real earnings management, and there is substitution effect between the two types of earnings management. Moreover, further research studies reveal that enterprises suffering losses in the previous year and featuring higher separation between decision-making rights and decision-control rights and higher separation between ownership and control have stronger earnings management motive under EVA-PA. In contrast, enterprises achieving satisfactory financial performance in the previous year and engaging in businesses within protective industry have weaker earnings management motive under EVA-PA. After the implementation of EVA-PA, accrual-based earnings management and real earnings management both impair operating performances of CGOEs. Originality/value Theoretically, this paper enriches research studies on earnings management from the perspective of incentive mechanism and expands research studies on economic consequences of EVA-PA. In addition, it validates the relationship between the two types of earnings management. As an important mechanism of corporate management and control, performance appraisal system is an important part for establishing ownership management system and improving internal management system of SOEs.
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Prem, Mary Jeyanthi, and M. Karnan. "Business Intelligence–Hybrid Metaheuristics Techniques." International Journal of Business Intelligence Research 5, no. 1 (2014): 64–70. http://dx.doi.org/10.4018/ijbir.2014010105.
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Business Intelligence (BI) is about getting the right information, to the right decision makers, at the right time. A business intelligence environment offers decision makers information and knowledge derived from data processing, through the application of mathematical models and algorithms. BI systems tend to promote a scientific and rational approach to managing enterprises and complex organizations. Soft computing is a collection of new techniques in artificial intelligence, which exploit the tolerance for imprecision, uncertainty and partial truth to achieve tractability, robustness and low solution cost. The purpose of this article is to provide an overview of soft computing techniques for the optimal and dynamic decision making system in the current business world.
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Svoboda, E. "Modern approaches in strategic decision-making by the management in agriculture-oriented enterprises." Agricultural Economics (Zemědělská ekonomika) 49, No. 5 (2012): 225–28. http://dx.doi.org/10.17221/5395-agricecon.
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The goal of the contribution is to publish the results of the research EP 12/2001–2003 (Brno, 2001–2002) and of the research intention GA MSM 4300007 (Brno, 2000–2001) aiming at application of modern approaches and solving methods of decision-making processes with the utilization of the PC network and new information technologies, and namely in connection with the application of the results of the research EP 7260 (Brno, 1998–2000) defining the method and algorithm of formation, implementation and changes of business strategies. It results from the analysis performed that business subjects managed in a modern way cannot get along without a well elaborated process of strategic decision-making and the said processes are getting more and more significant owing to the growing turbulent management environment and to the need to respond to these changes by the company management.
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LAVRICHENKO, OLEG VYACHESLAVOVICH. "Decision-Making Intellectual Support in the Theory of the Active Connect." Modern Applied Science 9, no. 13 (2015): 60. http://dx.doi.org/10.5539/mas.v9n13p60.
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<p>Effective control of innovative resources at the enterprise requires new and creative interaction mechanisms (active connect) between decision-makers, and enterprise-wide information systems. The essence of innovation self-organizing business forming technologies is revealed for the first time in the research work, which reveals the authoring theory of active connect basics. The article proves the maximum value of Choquet integral application demand by the decision-making process modeling for the disparity elimination in innovative resources distribution. The method proposed by the author has been tested at the enterprises of the Moscow Industrial Concern "Agat".</p>
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Muñoz, Pablo. "A cognitive map of sustainable decision-making in entrepreneurship." International Journal of Entrepreneurial Behavior & Research 24, no. 3 (2018): 787–813. http://dx.doi.org/10.1108/ijebr-03-2017-0110.
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Purpose Under what conditions do entrepreneurs make the sustainable decisions they need to develop socially and environmentally responsible new businesses? Explanations of sustainable decision-making have involved various cognitive features; however, it is not yet clear how they play a role in empirical terms and, moreover, how they combine to induce business decisions based on social, environmental and economic considerations. The purpose of this paper is to explore how five cognitive factors combine and causally connect to produce sustainable decision-making in entrepreneurship. Design/methodology/approach This study uses fuzzy-set qualitative comparative analysis to examine the decision-making of 37 sustainable entrepreneurs. It focuses on a substantive conception of entrepreneurial behaviour to uncover the cognitive antecedents underlying entrepreneurial decisions that involve the explicit development and implementation of measures, targets and strategies aimed at improving its impact on people and the environment. Findings The configurational analysis reveals a typology comprising five combinations of cognitive factors constituting a comprehensive cognitive map of sustainable decision-making in entrepreneurship, namely: purpose-driven, determined; value-based, vacillating; value-based, unintended; single motive, single solution; and purpose-driven, hesitant. Research limitations/implications This study demonstrates that no single condition is necessary nor sufficient for triggering decision-making involving social and environmental concerns, revealing five mental models leading to sustainable decision-making. In doing so, this paper responds to recent calls that stress the need for studies capable of uncovering the complex constellation of cognitive factors underlying entrepreneurial sustainable behaviour. Theoretical and practical implications are discussed. Originality/value This paper provides a systematic characterization of the cognitive underpinnings of sustainable decision-making and offers a basis for organizing the study of sustainable outcomes and configurations of cognitive antecedents. It reconciles prior efforts aimed at characterizing sustainability decisions in the context of SMEs and new enterprises, challenging current models based on awareness, experience and ethical normative frameworks.
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Проценко, Валентина М. "ОЦІНЮВАННЯ ЕКОНОМІЧНОЇ ПОВЕДІНКИ ПРОМИСЛОВИХ ПІДПРИЄМСТВ ЗАЛІЗНИЧНОГО ТРАНСПОРТУ: НАУКОВО-МЕТОДИЧНІ АСПЕКТИ". Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences 143, № 1 (2020): 31–40. http://dx.doi.org/10.30857/2413-0117.2020.1.3.
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The article seeks to explore modern business environment for Ukrainian industrial enterprises of railway transport that challenges the development and implementation of mechanisms to intensify economic behaviour management practices in the context of neo-industrial modernization that will facilitate better access to entering new markets, help to attract new consumers and enhance the enterprise competitiveness. It is emphasized that ensuring intensification of economic behavior management for railway transport industry enterprises in the frameworks of neo-industrial modernization is a multidimensional process since the ultimate performance depends on the quality of management decisions and involves the implementation of innovative approaches as well as relies on other factors that determine the effectiveness of business activities. The proposed concept for the intensification of economic behavior management in the railway transport industry has to provide relevant information management support that will guide effective managerial decision making together with offering a mandatory forecast of their economic outcomes, ensuring operational control, etc. It is argued that the intensification of economic behavior management is a driving factor in building a development strategy of railway transport enterprises with due regard to its structural elements and their indicators effects, and accounting for their advantages and disadvantages. The study suggests a conceptual methodological approach to evaluate the economic behavior of industrial enterprises in the sector of railway transport which covers the three phases: preliminary, basic and final. The findings provide a reasoned argument as to the effectiveness of this approach in management decision making and their further implementation in enhancing economic behavior management of the railway transport industry enterprises in the neo-industrial modernization business settings.
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Shyle, Irma, and Vjollca Hysi. "Social Media and its Impact on Decision Making for Trip." European Journal of Interdisciplinary Studies 1, no. 1 (2015): 8. http://dx.doi.org/10.26417/ejis.v1i1.p8-15.
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Social networks are not a new phenomenon of the human community. Social communication tools represent a revolution in terms of the possibility of publicity for enterprises. In this way mechanisms of social networks have not only changed the instruments, but also the communication. Social media is not focused exclusively on the development platform of promotion and communication, but also in the implementation of services to create new business opportunities and career. Professional groups present in networks are often closed and specifically dedicated towards specific groups in order to achieve defined objectives and set by direction of the company that benefit from these platforms. Social communications tools represent a revolution in terms of publicity opportunities for enterprises. Social media is becoming the key marketing tool for organizations who manage tourist destinations, in this way having a major impact on tourism markets. The role which social media is playing in various aspects of life is becoming increasingly every day, especially in areas such as social interaction and cultural and educational aspects of our lives. Social media are becoming important tools in marketing management for companies of tourist destinations, having a major impact on tourism markets. The arrival of new technologies such as social media have made it possible to change the way consumers seek information on their buying decisions. Ease of use, flexibility and interactivity offered by these social sites makes it easy for customers to get information that after all generate sales. These interactive web pages that have the status of social communities encourage consumers to interact with the community, strengthening prospects of customers. This will be resulted in customers who visit the community more often to get the desired information (Poon, A. 1993). With advices or knowledge that they get from the community they build the perception of destination and are used for making decisions by consumers. The purpose of this paper is to highlight the use of social media and the impact of social media in the decision making to travel by consumers choosing Albanian.
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Chen, Yong Qiang, Su Juan Zhang, Li Sha Liu, and Jia Hu. "Risk perception and propensity in bid/no-bid decision-making of construction projects." Engineering, Construction and Architectural Management 22, no. 1 (2015): 2–20. http://dx.doi.org/10.1108/ecam-01-2013-0011.
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Purpose – Making the right bid/no-bid decision is critical to the success and development of construction contracting enterprises. Decision makers’ personal characteristics, such as risk perception and propensity, have great impact on bid/no-bid decisions, which is the major concern of this research. The purpose of this paper is to explore the relationship among decision makers’ risk perception, risk propensity, and their bid/no-bid decision making of construction projects, as well as the factors influencing the risk perception and propensity. Design/methodology/approach – In total, four hypotheses were proposed based on an extensive literature review. Experimental questionnaires were distributed to employees working in Chinese construction contracting enterprises with knowledge of construction bidding, and 134 valid questionnaires were obtained. Multivariate statistical analysis through SPSS 19.0 was used to analyze the acquired data. Findings – Data analysis shows that in the context of international construction contracting: risk perception has a negative influence on bid/no-bid decision making; while risk propensity produces a positive influence and the probability and magnitude of potential gain or loss both have significant impacts on risk perception, and the probability plays a more important role. Originality/value – This research studied the bid/no-bid decision making of construction projects from the new perspectives of risk perception and risk propensity of the decision makers.
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Argyrou, Aikaterini, Robert J. Blomme, Tineke Lambooy, and Henk Kievit. "Unravelling the participation of stakeholders in the governance models of social enterprises in Greece." Corporate Governance: The International Journal of Business in Society 17, no. 4 (2017): 661–77. http://dx.doi.org/10.1108/cg-08-2016-0164.
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Purpose This paper aims to examine the concept of participatory governance through membership in the context of the tailor-made legal form for social enterprises in Greece, i.e. the social cooperative enterprise (Koinsep). As such, the paper aims to contribute to the theoretical discussion regarding the participation of stakeholders in the governance of social enterprises not only as a theoretical construct prescribed by law but also by examining its implementation in practice. Design/methodology/approach The development of two in-depth case studies demonstrate whether and how the application and implementation of legal requirements regarding governance and membership permit and encourage stakeholders to participate in the decision-making processes of social enterprises. The study accordingly showcases the influence exerted by the legal regime over the social enterprise. Findings The case studies demonstrate how participatory governance is not realised in a formal manner in the organisational set-up of two social enterprises. It thereby shows how stakeholders and employees participate informally in the decision-making processes of Greek social enterprises, although legislation is conducive to formal means of participation. Research limitations/implications This study is part of a larger project involving a comparative research of tailor-made legal forms of social enterprises and corresponding organisations in three jurisdictions, i.e. Greece, Belgium, and the UK. In this study, the research was limited to the legal form of Koinsep. Practical implications This paper also contributes to the development of a better understanding of the Koinsep as a new tailor-made legal form for social enterprises in Greece. It therefore, sheds light in its function and its participatory governance structure. Originality/value The study is an original attempt to theoretically and practically examine the subject of participatory governance in the Greek social enterprises context.
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Strang, Kenneth D., and Cliff E. L. Chan. "Simulating E-business Innovation Process Improvement with Virtual Teams Across Europe and Asia." International Journal of E-Entrepreneurship and Innovation 1, no. 1 (2010): 22–41. http://dx.doi.org/10.4018/jeei.2010010102.
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In this article, E-business new product development innovation processes were studied at four enterprises across Europe and Asia. E-entrepreneurship innovation was improved using a quality of idea priority model. The conventional quality function deployment phase 1 matrix was revised to increase the voice of customers and engineer quality of idea decision-making. The proposed model was simulated with geographically dispersed virtual teams (based on production data). Statistical analyses were applied to test the hypothesis that an improved innovation process could better discriminate between new product return on investment pass or fail probability.
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Christauskas, Ceslovas, and Regina Miseviciene. "Cloud–Computing Based Accounting for Small to Medium Sized Business." Engineering Economics 23, no. 1 (2012): 14–21. http://dx.doi.org/10.5755/j01.ee.23.1.1220.
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Small to medium sized business enterprises are young and constantly changing their sphere of activities depending on fluctuations of the market. The enterprises daily use accounting information, which is used in enterprise’s financial situation evaluation, correct decisions making, enterprise’s financial situation analysis according to the results received, making plans for future and controlling the whole enterprise. Accounting information systems play a significant role in providing the financial information for decision making within an organization. The systems are simultaneously providing information for a variety of other decision makers in production, human resources, finance, management, marketing, and supply chain logistics. Unfortunately, accounting systems often do not support business properly. The causes may be: systems mostly are too large and complex to comprehend them in entirety and traditional information technologies are not efficient. There is a need to adopt the newest technologies in small to medium sized business. In the paper investigated study showed the newest trends in accounting information systems for small to medium sized business. One of the newest trends in the information technologies world is cloud computing based technology. Accounting transfer to "cloud" is a new and innovative solution that can help save significant funds small and medium-sized enterprises. Small to medium businesses can get a lot of advantages with the newest technology. However, it has its own risks too. The paper indicates advantages and dangers of the newest technology within the business. Investigation of accounting systems for small and medium sized enterprises in Lithuania in the cloud-computing context is a part of the research. Lithuanian companies have a great opportunity to use cloud computing capabilities. But only one developer of accounting systems offered the cloud based accounting program. Results of the research summarized only by main accounting software. Investigation was carried out by using systematic and comparable literature review of accounting information systems faced to small to medium sized business. The investigation also shows that there are not so many scientific papers on the newest cloud computing trends in Lithuania. Accordingly, this research was mostly based on literature review sourced from the internet.DOI: http://dx.doi.org/10.5755/j01.ee.23.1.1220
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Carlucci, Daniela, Paolo Renna, Sergio Materi, and Giovanni Schiuma. "Intelligent decision-making model based on minority game for resource allocation in cloud manufacturing." Management Decision 58, no. 11 (2020): 2305–25. http://dx.doi.org/10.1108/md-09-2019-1303.
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PurposeThis paper proposes a model based on minority game (MG) theory to support the decision-making regarding the efficient allocation and exploitation of resources/services among the partners of a cloud manufacturing (CMfg) system. CMfg system is a new manufacturing paradigm to share manufacturing capabilities and resources on a cloud platform. The use of a decision model to organize and manage the resources and services provided by the autonomous participants of a CMfg has crucial relevance for the system's effectiveness and efficiency.Design/methodology/approachThis research proposes a noncooperation model based on MG theory. The MG is designed to make decisions on the use of resources/services among the partners of CMfg with private information. A simulation environment was developed to test the efficiency of the proposed decision model. Moreover, an ideal decision model with complete information among the partners was used as a benchmark model.FindingsThe simulation results show how the application of the proposed MG model outperforms the MG model usually proposed in the literature. In particular, the proposed decision model based on private information has an efficiency closer to the ideal model with complete information among the partners of a CMfg.Originality/valueThis paper advances knowledge about the application of MG in the field of CMfg system. The proposed decision-making model based on MG is a promising approach to help enterprises, and especially small and medium enterprises, to participate in CMfg initiatives and to develop their business.
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Lai, Wen-Hsiang, and Arch G. Woodside. "Heuristics-in-use in industrial interfirm-collaborating clusters." Journal of Business & Industrial Marketing 30, no. 3/4 (2015): 394–404. http://dx.doi.org/10.1108/jbim-09-2012-0167.
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Purpose – The purpose of this paper is to help interfirm-collaborating cluster (ICC) executives examine the relevance of alternative decision rules in practical business contexts. Multi-party-implemented strategies and establishing multi-lateral collaborations are necessary actions for achieving success in new product development by small and medium enterprises (SMEs). This study explores interfirm decision-making heuristics relating to industrial ICCs. Design/methodology/approach – The study examines the relevancy to decision making in ICCs of heurstics such as “fast-and-frugal decision trees” (FFDTs) and “take-the-best” (TTB) to processing possibly influential decision-making cues. The study also examines simple heuristics versus the value of a “fully rational” approach to making decisions – calculating cue values, importance weights, multiplying values by weights, summing and selecting the option having the highest summed score. This study included interviewing executives of the pivotal firm in an ICC. Findings – This study reveals a decision-making solution for shortening the time and processes required in seeking new business collaboration partners in an ICC. This study not only develops a FFDT for six decision-making modules to quickly identify potential collaboration partners, but it also constructs a decision systems analysis (DSA) flowchart to effectively shorten the decision-making process. Research limitations/implications – This study is in accordance with the general type of industrial interfirm collaboration in Taiwan. The industrial interfirm collaboration could be further divided into the types of formal, semi-formal and informal industrial interfirm collaborations. Practical implications – This study argues that firms usually find it difficult to develop their own technology because of the high costs of research and development for SMEs. Therefore, firms need to collaborate with partners to maintain their competitive advantage. However, to collaborate, firms must learn to trust their collaboration partners, and the degree of collaboration also strongly depends on the degree to which they trust their collaboration partners. Originality/value – This study provides the efficient models of FFDT and DSA to quickly identify potential collaboration partners and to effectively shorten decision-making processes.
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Marinović-Matović, Ivana, and Ljiljana Arsić. "Ecological dimension of PESTEL analysis in small enterprises in the Republic of Serbia." Reciklaza i odrzivi razvoj 13, no. 1 (2020): 63–71. http://dx.doi.org/10.5937/ror2001063m.
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Strategic decision-making seeks to analyze the external environment in which business organizations operate. External environmental factors are analyzed and monitored using PESTEL analysis. PESTEL analysis provides insight into organization's business opportunities and threats, in order to rapidly adapt to new market conditions. The objective of this paper is to present the use and the importance of PESTEL model for the analysis of ecological factors in business environment. The most common challenges of environmental analysis, and examples of positive practice from the Republic of Serbia, are presented in this paper. The paper represents a professional contribution to the business community, specifically, it helps organizations to improve their ecological performances through more efficient use of opportunities and elimination of threats arising from ecological factors.
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Galli, Brian J. "Application of Statistical Analysis Tools and Concepts to Big Data and Predictive Analytics to New Product Development." International Journal of Strategic Engineering 3, no. 1 (2020): 17–35. http://dx.doi.org/10.4018/ijose.2020010102.
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In today's fiercely competitive environment, most companies face the pressure of shorter product life cycles. Therefore, if companies want to maintain a competitive advantage in the market, they need to keep innovating and developing new products. If not, then they will face difficulties in developing and expanding markets and may go out of business. New product development is the key content of enterprise research and development, and it is also one of the strategic cores for enterprise survival and development. The success of new product development plays a decisive role both in the development of the company and in maintaining a competitive advantage in the industry. Since the beginning of the 21st century, with the continuous innovation and development of Internet technology, the era of big data has arrived. In the era of big data, enterprises' decision-making for new product development no longer solely relies on the experience of decision-makers; it is based on the results of big data analysis for more accurate and effective decisions. In this thesis, the case analysis is mainly carried out with Company A as an example. Also, it mainly introduces the decision made by Company A in the actual operation of new product development, which is based on the results of big data analysis from decision-making to decision-making innovation. The choice of decision-making is described in detail. Through the introduction of the case, the impact of big data on the decision-making process for new product development was explored. In the era of big data, it provides a new theoretical approach to new product development decision-making.
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Pan, Ailing, Wenkai Liu, and Xue Wang. "Managerial overconfidence, debt capacity and merger & acquisition premium." Nankai Business Review International 10, no. 4 (2019): 570–90. http://dx.doi.org/10.1108/nbri-04-2019-0016.
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Purpose Based on the perspective of cognitive psychology, this paper takes the M&A events of Chinese A-share listed enterprises from 2008 to 2015 as the research samples, and then empirically analyzes the influence of managerial overconfidence on M&A premium under the special circumstances in China and tests the moderating effect of debt capacity between managerial overconfidence and M&A premium. Design/methodology/approach This paper selects the M&A events of all A-share listed enterprises from 2008 to 2015 as the total samples. In view of the fact that the data in this paper are unbalanced panel data, so this paper uses the LR test, LR test and Hausman test to filter the mixed OLS model, fixed effect model and random effect model. Finally, using the random effect model for empirical testing reduces the endogeneity of the model. Findings The study shows that managerial overconfidence is positively correlated with M&A premium; at the same time, compared with the state-owned enterprises, the relationship between managerial overconfidence and M&A premium is more significant in private enterprises. Further study shows that debt capacity can strengthen the relationship between managerial overconfidence and M&A premium, to be specific, the larger the debt capacity is, the stronger the positive relationship between managerial overconfidence and M&A premium will be. Moreover, after considering the influence of agency cost and financing expense, and conducting endogenous test and robust test, this research’s conclusions remain the same. Research limitations/implications This research also has some limitations. Some M&A announcements are incomplete, and the target has more information missing, resulting in a decrease in the number of samples, which may affect the accuracy of the conclusions. This paper does not address the research of the economic consequences of M&A, namely, the impact of managerial overconfidence and debt capacity on M&A performance. This is one of the future research directions for this paper. Practical implications The conclusions of this paper provide new theory evidence for Chinese enterprises' M&A decision-making. Social implications First, enterprises should gradually improve corporate governance structure and governance mechanisms to guide more stakeholders to participate in corporate governance, and also they should strengthen the pre-evaluation, in-process control and post-supervision of managers' behavioral decisions to prevent irrational M&A caused by managerial overconfidence. Especially in private enterprises, this issue should be paid more attention. Second, enterprises should make full use of the debt governance function of creditors and improve the creditors' supervision mechanism for managers' decision-making behavior. Originality/value The innovation value and increment contribution of this paper may include the following aspects: the conclusions of this paper expand the research boundary of the relationship between managerial overconfidence and M&A premium, and enrich related literature about debt capacity and the influence of debt capacity on M&A decision-making, and also provide new theory evidence for Chinese enterprises' M&A decision-making. In a word, this research is a beneficial supplement and extension for existing research.
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Xie, Jian Min, and Qin Qin. "Research on the Consumer Demand of Decision Making in the E-Commence System Building Process." Applied Mechanics and Materials 71-78 (July 2011): 2895–98. http://dx.doi.org/10.4028/www.scientific.net/amm.71-78.2895.
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In the process of developing e-commerce system, enterprises are able to accurately understand and grasp the needs of the user enterprise that is the key to the successful implementation of e-commerce. Based on this, the article proposed a new method which was based on the process of developing consumer demand for e-business decision-making though a rough set theory. This new approach is built using rough set decision model to calculate the different needs of the impact on consumer satisfaction, come to an important degree of each demand and the demand reduction order. This method overcomes the traditional rough set method cumbersome bottlenecks, and helps operating; cases studies show that the proposed method is simple and effective.
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Lu, Ming-Tsang, Shu-Kung Hu, Li-Hua Huang, and Gwo-Hshiung Tzeng. "Evaluating the implementation of business-to-business m-commerce by SMEs based on a new hybrid MADM model." Management Decision 53, no. 2 (2015): 290–317. http://dx.doi.org/10.1108/md-01-2014-0012.
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Purpose – The invention and use of mobile commerce (m-commerce) technology have progressed in recent years. In small to medium-sized enterprises (SMEs), the decision to implement business-to-business m-commerce is a multiple-criteria decision analysis problem that involves both qualitative and quantitative factors, and its evaluation may be based on imprecise information or uncertain data. Furthermore, there may be significant dependences or important feedback among different levels of criteria or alternatives. However, most conventional decision models cannot capture these complex interrelationships. The purpose of this paper is to adopt a new hybrid multiple attribute decision model (MADM) model to evaluate the implementation of business-to-business m-commerce by SMEs in Taiwan to enhance the thinking of management and improve decision gaps. Design/methodology/approach – In this study, the authors present the use of a new hybrid MADM combined with a decision-making trial and evaluation laboratory (DEMATEL) method to construct an influential network relationship map (INRM) and find the influential weights of DANP (DEMATEL-based ANP) in criteria from the influential relationship matrix, and the modified VIKOR method using influential weights to evaluate and integrate the criteria performance in the gaps and to analyze how to reduce the gaps to evaluate the decision to implement business-to-business m-commerce by SMEs based on INRM. Findings – The findings of using the new hybrid MADM model can efficiently and successfully be applied to the business-to-business m-commerce of SMEs to improve and reduce the performance gaps among each criterion/aspect when setting improvement strategies for achieving an aspiration level based on INRM. Originality/value – This study achieves the following: successfully building a decision network (called an influential network relation map (INRM)) of the technological advances and implementations of business-to-business m-commerce for solving the inter-dependence and feedback of criteria/aspects in the real world problem; how changing effective solutions from existing performance of situations/alternatives into aspiration levels to fit the current competitive markets in the business-to-business m-commerce of SMEs; and efficiently shifting from ranking and selection when determining the most preferable approaches to performance improvement by modified VIKOR methods.
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Tomšík, P., and E. Svoboda. "Diagnostics and decision-making of the company management within the period of economiccrisis and recession." Agricultural Economics (Zemědělská ekonomika) 56, No. 7 (2010): 303–9. http://dx.doi.org/10.17221/53/2010-agricecon.
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Enterprises are socio-economic entities with bonds to their environment. Their economic health is evaluated by the means of adequate diagnostic methods. When evaluating a processing business as a living organism, these diagnostic methods enable to determine their health condition. These business entities pass through individual stages of their life cycle and, in real time, their momentary condition corresponds with the homeostasis existing between the company's system and its environment. A diagnosis defined by the means of diagnostic methods must help to implement the goals which lead, on the base of business management activities, to the generation of an adequate response to the given momentary situation existing in the diagnosed enterprise. The definition of a proper diagnosis is important especially in those periods when the enterprise passes through its life crisis under the conditions of market recession. This scientific paper presents data formulated within the framework of research focused on the analysis of managerial, financial and economic risks and on the methods of their solution within the framework of strategic business management in a new business environment as influenced by the phenomena resulting from the integration processes, development of information technologies and factors of globalisation. This diagnostic method was applied when analysing in detail the operation of a company producing bioveterinary drugs and preparations. Keywords: diagnostics; homeostasis; crisis management; business environment
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Pylypiv, Nadiya, and Iryna Pіatnychuk. "Essential Strategic Management Accounting Tools Used for Making Investment Decisions at Enterprises in EU." Journal of Vasyl Stefanyk Precarpathian National University 5, no. 3-4 (2018): 50–56. http://dx.doi.org/10.15330/jpnu.5.3-4.50-56.
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Slow current modernization reforms in the economic sector have significantly weakened the competitiveness of enterprises in EU; therefore, there is a great need for new tools in the managerial decision-making process. Information provision of the decision-making process on expediency of investment activity in the form of capital investments is formed within thelimits of strategic management accounting. In the research except for various analytical methods (analysis, synthesis, comparison, grouping, etc.) a “decisions tree” method is used for choosinga reasonable solution. In the study, strategic management accounting has been defined as a separate kind of management accounting, which involves generation of high-quality information. Certain tools may be applied within it for the decisions made by managers, based on established business partnership with successful implementation of business strategy. Five most widespread groups of tools of strategic management accounting are cost accounting; planning, monitoringand evaluation of effectiveness; strategic decisions; competitor accounting; customer accounting.It is recommended to complete the list of instruments integrated within the five groupsby a separate group – a specific category of supplier accounting that would contribute to the generation of more complete and qualitative information provision for the process of making managerial decisions on the appropriateness of capital investments in the investment activityof the enterprise in EU. The research made it possible to reach the following conclusions. Important components should be taken into account in order to fulfil strategic management accountingof the company in a proper way. Those are data sources choice, collecting and processing of information, choice of instruments of strategic management accounting, formation of internal regulation of strategic management accounting, development and supply of accountingand analytical information; process of solutions development, and the choice, which canprovide generation of necessary information for competitive managerial decisions made by managers. Application of advanced tools for strategic management accounting, which give information to meet issues related to the characteristics of consumers, competitors, suppliers, project costs, assessment of investment feasibility in the project, is caused by the necessity of competitive decision-making with the help of the above-offered decisions tree tool usage
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Hacherová, Ž., and P. Szovics. "Trends and factors of assets and capital in enterprises of primary agricultural production ." Agricultural Economics (Zemědělská ekonomika) 52, No. 8 (2012): 379–84. http://dx.doi.org/10.17221/5038-agricecon.
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A smooth entrepreneurial activity requires adequate cash flows. This need is quantified due to the special position of primary agricultural production. The required volume, structure, quality and availability of financial resources creates economic framework for decision making and managing entrepreneurial activities. The results show the lack of total capital in connection to the needs of investment processes and ensuring operational activities in the selected enterprises. Both legal entities (agricultural cooperatives and business enterprises) decreased the total volume of assets and total liabilities in 2004. The economic result was improved in both types of legal entities, in the case of cooperatives by 3&nbsp;525 SKK/ha a.l. and in business companies by 1&nbsp;840 SKK/ha a.l. Receivables and payables also decreased, cash flows from business activities have increased. There is a decrease in the balances of the existing loans and new loans were provided by commercial banks for enterprises in primary agricultural production.
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Bril, Aleksander, Olga Kalinina, and Anastasia Levina. "Two-stage commercial evaluation of engineering systems production projects for high-rise buildings." E3S Web of Conferences 33 (2018): 03004. http://dx.doi.org/10.1051/e3sconf/20183303004.
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The paper is devoted to the current and debatable problem of methodology of choosing the effective innovative enterprises for venture financing. A two-stage system of commercial innovation evaluation based on the UNIDO methodology is proposed. Engineering systems account for 25 to 40% of the cost of high-rise residential buildings. This proportion increases with the use of new construction technologies. Analysis of the construction market in Russia showed that the production of internal engineering systems elements based on innovative technologies has a growth trend. The production of simple elements is organized in small enterprises on the basis of new technologies. The most attractive for development is the use of venture financing of small innovative business. To improve the efficiency of these operations, the paper proposes a methodology for a two-stage evaluation of small business development projects. A two-stage system of commercial evaluation of innovative projects allows creating an information base for informed and coordinated decision-making on venture financing of enterprises that produce engineering systems elements for the construction business.
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Le Dinh, Thang, Thuong-Cang Phan, Trung Bui, and Manh Chien Vu. "Towards a Service-Oriented Architecture for Knowledge Management in Big Data Era." International Journal of Intelligent Information Technologies 14, no. 4 (2018): 24–38. http://dx.doi.org/10.4018/ijiit.2018100102.
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Nowadays, big data is a revolution that transforms conventional enterprises into data-driven organizations in which knowledge discovered from big data will be integrated into traditional knowledge to improve decision-making and to facilitate organizational learning. Consequently, a major concern is how to evolve current knowledge management systems, which are confronted with a various and unprecedented amount of data, resulting from different data sources. Therefore, a new generation of knowledge management systems is required for exploring and exploiting big data as well as for facilitating the knowledge co-creation between the society and its business environment to foster innovation. This article proposes a service-oriented architecture for elaborating a new generation of big data-driven knowledge management systems to help enterprises to promote knowledge co-creation and to obtain more business value from big data. The proposed architecture is presented based on the principles of design science research and its evaluation uses the analytical evaluation method.
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Demirkan, Haluk, and James C. Spohrer. "Servitized Enterprises for Distributed Collaborative Commerce." International Journal of Service Science, Management, Engineering, and Technology 1, no. 1 (2010): 68–81. http://dx.doi.org/10.4018/jssmet.2010010105.
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Agility and innovation are essential for survival in today’s business world. Mergers and acquisitions, new regulations, rapidly changing technology, increasing competition and heightened customer expectations mean companies must become more responsive to changing demands. This move to agility through innovation can be possible with the service oriented solutions offered by Collaborative Servitized Enterprises (CSE). In this article, the authors demonstrate the architecture of a CSE and develop a multidisciplinary research program, incorporating a more science-based approach to the effective, scalable, secure, and knowledge-driven design and development of collaborative servitized enterprises, to address some of today’s commoditization lead issues. The authors’ primary objective is to lay the foundation of an integrated service culture, which is characterized by a cross-disciplinary attitude that fulfills customers’ needs. A secondary attitude within that culture is an awareness of the complexities associated with service tradeoff decision-making, requiring a careful balance of value, risk, cost, and quality of service.
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Lizarralde, Rafael, Jaione Ganzarain, and Mikel Zubizarreta. "Assessment and Selection of Technologies for the Sustainable Development of an R&D Center." Sustainability 12, no. 23 (2020): 10087. http://dx.doi.org/10.3390/su122310087.
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The central role of R&D centers in the advancement of technology within industrial enterprises is undeniable and clearly affects their strategies, their competitiveness and their business sustainability. R&D centers assume responsibility for technology recognition, collection, acquisition, development and transition. Among their activities, the efficient choice of emerging technologies in the Technology Management Process is becoming a real challenge. In such heterogeneous scenarios, Multiple Criteria Decision Making (MCDM) models are commonly proposed as an appropriate decision-making approach. Multiple research works address the selection of particular technologies in industrial applications, but very few references can be found related to research institutions, and R&D centers in particular. Therefore, a decision-making model is provided in this study following the MIVES multi criteria method for the assessment of one or more technologies. The model is then applied to two case studies related to the selection process of new technologies at a Spanish R&D Center specialized in manufacturing.
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Urumov, T. "Access to Finance for Small-and Medium-Sized Enterprises in Modern Reality." Analysis and Forecasting. IMEMO Journal, no. 3 (2020): 44–50. http://dx.doi.org/10.20542/afij-2020-3-44-50.
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Small-and medium-sized Enterprises (SMEs) in many countries nowadays face financial shortages and challenges in attracting new financial resources. In today’s new reality technologies and innovative business models become crucial for increasing access to financial services and enhancing long-term economic growth. Digital technologies have been actively developing even before the pandemic of COVID-19. However, during the lockdown and the economic crisis caused by the pandemic the development of digital platforms has accelerated. Digital commerce and payments have become much more significant in the first half of 2020. That fact stimulated many SMEs to improve their digital capabilities. The “new” reality motivates the enterprises to use big data analysis and artificial intelligence in decision making process. The modern technologic capabilities are used in two directions. The first direction is the digitalization of organizational aspects of SMEs activities, for instance, transferring business meetings and conferences into online forms. The second one, which is even more important, suggests financial digitalization. This means using digital technologies to attract financial resources for business needs. Financial digitalization requires some specific measures, including improving the existing mechanisms of traditional loan financing through the use of new technologies and big data analysis; stimulating closer interaction between financial institutions and SMEs; drafting appropriate legislation to regulate the digital financial technologies sphere.
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Situ, Hui, Carol A. Tilt, and Pi-Shen Seet. "The Influence of the Government on Corporate Environmental Reporting in China: An Authoritarian Capitalism Perspective." Business & Society 59, no. 8 (2018): 1589–629. http://dx.doi.org/10.1177/0007650318789694.
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This study uses panel data to investigate the different roles of the Chinese government in influencing companies’ decision making about corporate environmental reporting (CER) via a two-stage process. The results show that the Chinese government appears to mainly influence the decision whether to disclose or not, but has limited influence on how much firms disclose. The results also show that the traditional model of authoritarian capitalism (under which state-owned enterprises [SOEs] are the major governance arrangement) is transforming into a new model. In the new model of authoritarian capitalism, the Chinese government uses newer, more sophisticated tools to manage both state-owned and non–state-owned companies. In addition, these new governance arrangements appear to be more efficient than the traditional model. The findings of this study have implications for both the Chinese government and for Chinese companies, as well as making important contributions to the literature and knowledge of CER in China.
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Mohammed, Ahmed, Irina Harris, and Abdulsalam Dukyil. "A trasilient decision making tool for vendor selection: a hybrid-MCDM algorithm." Management Decision 57, no. 2 (2019): 372–95. http://dx.doi.org/10.1108/md-04-2018-0478.
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PurposeVendor selection is the main activity in a sourcing decision, which is a strategic decision in that it leads enterprises to eliminate costs and improve their performance. However, an inappropriate selection may compromise the financial and operational status of the enterprise. But vendor selection is a complex, multi-criteria decision-making process because different and conflicting criteria have to be considered and assessed in order to find consistent suppliers. Consequently, evaluating and selecting the best vendor is the key to successful business. Traditionally, vendors are normally selected on the basis of traditional criteria (TC), such as costs and quality, neglecting resilience criteria (RC) (e.g. agility and flexibility). Thus, enterprises ultimately realize that a selecting method which involves TC as the only ones is inefficient and needs to be changed. The paper aims to discuss this issue.Design/methodology/approachThis study was set in motion by a problem in practice. It aims to provide a user-friendly decision-making tool for selecting the best vendor from a group which submitted their tenders for implementing a proposed radio frequency identification (RFID)-based passport tracking system (Dukyilet al., 2017). The main traditional and resilience (“trasilience” henceforth) selection criteria were identified in a unified framework in collaboration with experts in the institution. Next, the Decision-Making Trial and Evaluation Laboratory (DEMATEL) algorithm was used to determine the relative importance of each criterion and the weights thus obtained were integrated into the ELimination Et Choix Traduisant la REalité (ELECTRE) algorithm. The Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) algorithm was also applied, to evaluate the performance of vendors and to select the best one. The qualitative evaluation of the criteria and the vendors was based on four decision makers. Finally, the Spearman’s rank correlation coefficient (SRCC) approach was applied to obtain the statistical difference between the ranking orders obtained from the two algorithms.FindingsThe efficiency of the proposed decision-making tool was evident from the real-case study of six tenders submitted for implementing a RFID-based passport tracking system. The SRCC also turned out a “very strong” association value between TOPSIS and ELECTRE.Practical implicationsThe developed trasilient decision-making tool can easily be used to solve similar vendor or supplier selection problem. Moreover, other criteria can be added to fit other cases. Later, the tool was made available to the institution under study for solving future evaluation problems.Originality/valueThe literature shows that none of the previous papers presented an integrated trasilient approach that considers RC and TC simultaneously. This study presents a new trasilience tool for selecting a vendor.
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Smolennikov, D. O., Yu V. Chortok, and A. V. Bondar. "System of Corporate Social and Environmental Responsibility Indicators of Enterprises for Managerial Decision-Making Taking the Needs of Stakeholders into Account." Mechanism of an Economic Regulation, no. 2 (2020): 159–68. http://dx.doi.org/10.21272/mer.2020.88.14.
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In today's conditions of globalization, any advantages are important for every company in the competition for the consumer. One of them is the implementation of measures for social and environmental corporate responsibility of enterprises and taking into account its practice in forming the company's development strategy. The research examines the decision-making about implementation of corporate social and environmental responsibility in enterprises. Nowadays doing business on the principles of social and environmental responsibility is not only following current trends, but also an important component of the strategy to respond to new challenges. The set of measures and projects implemented by enterprises to protect the environment and improve the quality of life of the population is usually demanded and has a positive effect on the image of enterprises. At the same time, these actions do not always meet the real needs of stakeholders. There is a need to take into account the interests of stakeholders that became the basis for the idea to develop a simple and user-friendly system of corporate social and environmental responsibility indicators. The purpose of the paper is to form scientific and methodological approaches to defining corporate social and environmental responsibility indicators, which take into account the needs of major groups of stakeholders, and form a common vision towards formulating enterprise development strategy and contribute to effective managerial decision-making in solving social, economic and environmental issues. As a result of the study, a computer program CSLinked was developed, which allows to analyze indicators of enterprises social and environmental corporate responsibility taking into account the needs of stakeholders and provides selfassessment of the company in three groups of indicators – economic, social and environmental.
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Zacca, Robert, Mumin Dayan, and Said Elbanna. "The influence of conflict and intuition on explorative new products and performance in SMEs." Journal of Small Business and Enterprise Development 24, no. 4 (2017): 950–70. http://dx.doi.org/10.1108/jsbed-02-2017-0034.
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Purpose The purpose of this paper is to investigate the influence of conflict and intuition on explorative new products and performance in small- and medium-sized enterprises (SMEs). Design/methodology/approach The study proposes a theoretical model that was tested using two survey instruments: one instrument was administered to the owners of 150 SMEs within the United Arab Emirates (UAE) and the second was administered to senior managers within the same SMEs. Findings The results show that within the decision-making process both objective and personal conflicts drive decision makers to the use of intuition, with high levels of market turbulence strengthening the effect of objective conflict on the use of intuition. Furthermore, the use of intuition was found to have an adverse effect on explorative new products, negating the positive effectiveness of explorative new products on SME performance. Research limitations/implications The study’s conceptual model may not completely represent the perspective it aims to elucidate. An alternative model with equally well-conceived explanatory variables could provide further interesting results. Practical implications Drawing on the perspective of the decision-making process, an interpretation of the model results and some practical implications are discussed. Originality/value The primary contribution of this study is the introduction of a model investigating the influence of conflict on the use of intuition in strategic decisions. Furthermore, the study collected empirical evidence from SMEs operating in the dynamic economy of the UAE, which is a less studied setting.
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Dolonina, E. A., and M. V. Shinkevich. "Specifics of business processes of petrochemical enterprises in the context of digitalization of the economy." Vestnik Universiteta, no. 4 (June 5, 2021): 64–72. http://dx.doi.org/10.26425/1816-4277-2021-4-64-72.
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Digital transformation is more focused on the management aspects of digitalization. It is associated with a large-scale process of implementing digital technologies and corresponding organizational changes. The article reveals the features of designing business processes of petrochemical enterprises in the context of the transition to the digital economy and the introduction of new technologies in the production process. The paper identifies the main technologies of Industry 4.0 used in the chemical and petrochemical industries. The study analyses the key technologies and drivers of the development of traditional and digital production, as well as the barriers to their implementation. The author summarizes the key principles on which Industry 4.0 should be based in order to support effective decision-making in the industry. The paper notes that the design of business processes is determined by the production technology. In the direction of improving business processes, there is a need for wider use of decision support systems based on artificial intelligence and expert systems. The authors developed a model for the implementation of production processes that takes into account the design features of business processes of industrial enterprises in the conditions of digitalization of the economy. The distinctive feature of the presented model is the combination of the life cycle and the value stream with a structured approach to defining the components of Industry 4.0.
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Đukić, Suzana, and Ljiljana Stanković. "Problems In The Valuation Of Business Customers." Economic Themes 52, no. 4 (2014): 379–91. http://dx.doi.org/10.1515/ethemes-2014-0024.
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AbstractKey account management is becoming the dominant approach for managing long-term relationships with customers. It represents a set of processes and practices for managing interdependence between companies and customers in order to create added value for both sides. Such an approach to managing relationships with customers is of strategic importance for enterprises in the business market, as it allows the creation and development of synergic partnerships with valuable customers. A high level of interdependence, orientation to creating and delivering a set of benefits that exceed the basic product / service orientation to increased learning in relationships and reduction of uncertainty are the major characteristics of KAM. By managing their interdependence and using common skills and power, the partners focus on increasing their own competitiveness and value of supply. Leveraging resources is achieved through sharing of information, openness to new ideas, participation in decision making and problem solving at all organizational levels. Such relationships become the source of satisfaction of customers and their retention in the long term.
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Fenyves, Veronika, and Tibor Tarnóczi. "Examination of the expectations of controllers on the labour market." Corporate Ownership and Control 17, no. 1 (2019): 60–70. http://dx.doi.org/10.22495/cocv17i1art6.
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In today’s globalised and accelerated world, competition between companies has become much more intense. Information, knowledge and speed play an important role in decision making. This means that only companies that have the necessary information and can quickly convert it into organisational knowledge are able to meet the new challenges. The corporate controlling system plays a major role in generating information and thus supporting decision making. Controlling is based on the collaboration between the management and the controller. Controllers’ suitability to perform this activity is determined by their professional skills, personality, human qualities and the socio-economic environment in which they work. The purpose of our study is to determine, through a questionnaire survey, what expectations the labour market places on controllers. Our respondents were managers, financial managers and controllers of enterprises and other business organisations. The sample to be processed consisted of 124 completed and evaluable questionnaires. Descriptive statistical methods and principal component analysis were used to process the database. Using these methods, we present the expectations of business leaders and decision-makers on controllers. Expectations include knowledge of accounting, finance, and the given area of business activity. Of personal skills, expected characteristics include the ability to think in context, analytical skills, logical thinking and the ability to perform analytical and creative work.
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Proskurnina, N. V. "Transformation of Business Models of Retail Enterprises in the Conditions of Digitalization." Business Inform 10, no. 513 (2020): 384–91. http://dx.doi.org/10.32983/2222-4459-2020-10-384-391.
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The article is aimed at generalizing the theoretical and practical principles of transformation of business models of retail enterprises in the digitalization of the economy. The determinants of innovative transformation of retail business models are characterized, which allow, based on internal and external conditions, to critically rethink and adjust the basic principle by which value is created. The need to search for ideas of the latest business models of retail trade, on the basis of which enterprises will be able to be successful and grow rapidly in the conditions of digitalization, is proved. A scientific generalization and systematization of business models of value creation in both off-line and on-line channels is carried out. According to the model of Graf and Schneider, a value chain is defined, which is based on the following primary activities: supply (range, focused on demand); presentation of the product (photo of the product, listing, recommendations, text); marketing and sales (off-line marketing, on-line marketing, sales channels); executing sale and purchase (issue of check, payment methods, risk analysis); logistics (delivery of goods, management of return of goods); customer service (dialogue with the client in social networks, hot-line, chat, on-line self-service). These determinants in the course of value creation can be materialized on the basis of innovative approaches, through multichannel sales, use of brands, pricing management, integration of customers into various processes and shopper marketing (buying marketing), which allows to focus on the decision-making process from the first opinion of the consumer about the purchase of goods and further on, during making the choice. It is noted that the rapid response to changes, the proactive search for new ideas and high readiness for digitalization are triggers of the successful transformation of the business model of retailers in the digital revolution. As the main competencies at the retail enterprises the author defines innovation, digital intelligence and personalization, which must be adequately used to win the competition.
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Matawale, Chhabi Ram, Saurav Datta, and S. S. Mahapatra. "Supplier/partner selection in agile supply chain." Benchmarking: An International Journal 23, no. 4 (2016): 866–92. http://dx.doi.org/10.1108/bij-03-2014-0020.
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Purpose – The concept of agile supply chain (ASC) has become increasingly important as means of achieving a competitive edge in turbulent business environments. An ASC is a dynamic alliance of member enterprises, the adaptation of which is likely to introduce velocity, responsiveness and flexibility into the manufacturing system. In ASC management, supplier/partner selection is a key strategic concern; influenced by various agility-related criteria/attributes. Therefore, evaluation and selection of potential supplier in an ASC has become an important multi-criteria decision-making problem. The purpose of this paper is to report, a supplier selection procedure (module) in the context of ASC. Design/methodology/approach – During supplier selection, subjectivity of evaluation information (human judgment) often creates conflict and bears some kind of uncertainty. To overcome this, the present work attempts to explore vague set theory to deal with uncertainties in the supplier selection decision-making process. Since, vague sets can provide more accurate information as compared to fuzzy sets. It considers true membership function as well as false membership function which give more superior results for uncertain information. In this procedure, first, linguistic variables have been used to assess appropriateness rating (performance extent) as well as priority weights for individual quantitative or qualitative criterions. Second, the concept of degree of similarity and probability of vague sets has been used to determine appropriate ranking order of the potential supplier alternatives. Findings – A case empirical example has been provided. It has been proved that the methodology would be fruitful in considering different evaluation criterion (indices); may be contradicting in nature like beneficial and cost criterions. The application of vague set theory has also been proved as a better option to work under uncertain (fuzzy) decision-making environment in comparison to fuzzy set theory. Originality/value – The application of vague set theory in multi-criteria group decision making has been reported in literature to a limited extent. Application of vague set as a decision-making tool in agile supplier selection appears relative new and unexplored work area. The work has got remarkable managerial implications.
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Jing, Xu, Yao Guanxin, and Dai Panqian. "Quality Decision-Making Behavior of Bodies Participating in the Agri-Foods E-Supply Chain." Sustainability 12, no. 5 (2020): 1874. http://dx.doi.org/10.3390/su12051874.
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The quality of agri-foods in e-supply chains confronts more threats than that in the traditional agri-food supply chain. However, most of the existing studies focusing on the quality problems of fresh agri-products are mainly cases studies and statistical analyses, and they do not take into account the farmers’ willingness to comply with safe agri-food supply procedures. To solve the supply quality problems of fresh agri-foods and help participators make a better choice, the decision-making behavior on the supply quality of agri-foods in the e-supply chain was deeply studied in this paper using game theory. Some factors related to the decision behavior of the supply chain were analyzed, including the supervision intension of the government, the rights protection consciousness of consumers, and the intensity of punishment for poor-quality agri-foods. These factors have an important influence on the farmers’ willingness to provide high-quality products and e-business’ probability of inspection. Compared with three different decision models of agri-food e-supply chains, the results show that the decentralized decision model is better than the centralized model from the view of quality protection. The behavior of members of the supply chain is as follows: the farmers’ willingness to supply high-quality agri-foods increases with the increase in the consumers’ consciousness of their rights and the government’s supervision intensity. The “experience deviation” phenomenon also occurs when a new e-business makes a decision about its quality inspection behavior in this e-supply chain where the quality information is traceable. As such, e-business enterprises should reduce their quality inspection behavior based on the increase in the government’s supervision intensity. This happens to be opposite to the traditional experience where quality information is not traceable. This study not only extends the research framework of the novel electronic supply chain, but also provides a certain reference for the subsequent research and e-business practices of fresh produce in developing countries.
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Huang, Chung-Jen, Elisa Talla Chicoma, and Yi-Hsien Huang. "Evaluating the Factors that are Affecting the Implementation of Industry 4.0 Technologies in Manufacturing MSMEs, the Case of Peru." Processes 7, no. 3 (2019): 161. http://dx.doi.org/10.3390/pr7030161.
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The micro, small, and medium enterprises (MSMEs) sector plays a very crucial role in the economic and social development of Peru. Unfortunately, the tough access to the use of technologies is one of the weaknesses of this type of enterprises, which implies a low technological intensity production, according to the new technological trends. This study analyzes the factors that are affecting the implementation of Industry 4.0 technologies in Peruvian micro, small, and medium enterprises. According to the findings from the semi-structured interviews, it has identified four factors that respond to the main question of this research—lack of advanced technology, lack of financial investment, poor management vision, and lack of skilled workers. Data from 49 enterprises from the manufacturing sector were used for the assessment. The surveys conducted on business managers were evaluated using a multi-criterion decision-making method by the analytic hierarchy process. The findings of the study generate some recommendations that could be beneficial for the sectors involved with micro, small, and medium enterprises in Peru.
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Proskurnina, Nadiia. "Purchasing decisions making in the context of digital transformation of retail." Economics of Development 18, no. 4 (2020): 11–18. http://dx.doi.org/10.21511/ed.18(4).2019.02.
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The paper analyzes the impact of retail transformation on the consumers’ expectations and behavior in the electronic environment and identifies the main directions of digitalization of the marketing activities of domestic retail enterprises at each stage of the purchasing decision-making process. It also systematizes the consumer expectations in the context of the digital transformation of retail, which made it possible to establish the importance of managing customer acquisition for retailers and demonstrated how technology changes the way customers purchase. The results of an online study of the impact of marketing efforts in retail outlets to highlight digital transformation tools at every stage of consumer decision-making by consumers are presented and the main directions of digitalization of marketing activities of domestic retail enterprises are summarized. The legitimacy of taking consumer expectations into account when determining the impact on the business model of retailers, returning it to the plane of mobility, digitalizing the purchase process, and the integration of digital and physical trading, has been proven. It is suggested to consider the main areas of digital transformation as digital interaction with customers, innovation in the development of products and services, distribution channels, marketing and sales; digital implementation, risk optimization, strengthening corporate control, intelligent information management and customer service, managing customer and contact center experience, customer relationship management. This made it possible to specify promising areas of digital transformation in the retail industry, in particular, optimizing human resources, creating new ways of cooperation, attracting labor and assistance (flexible work, social cooperation, corporate cooperation, integrated communications), as well as employee training for the retail industry.
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Hanushchak-Yefimenko, Liudmyla M. "НАПРЯМИ ЕФЕКТИВНОГО УПРАВЛІННЯ БІЗНЕС-ПРОЦЕСАМИ ПІДПРИЄМСТВ СІЛЬСЬКИХ ТЕРИТОРІЙ". Bulletin of the Kyiv National University of Technologies and Design. Series: Economic sciences 149, № 4 (2021): 58–64. http://dx.doi.org/10.30857/2413-0117.2020.4.6.
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The article provides insights into business process management of rural enterprises. The study substantiates the main factors affecting management efficiency and provides rationale for the degree of each of the impact factor that allows to held profitability control and timely respond to changes in market environment. Based on the review of modern performance assessment methods, the findings demonstrate their diversity resulted from different goals in efficiency evaluation (evaluating changes in time, structure, etc.), as well as the heterogeneous nature of the system elements to be evaluated. Following the logic of management decision-making process, the study suggests the key areas for effective business process management at rural enterprises. It is argued that the implementation of the selected strategic vectors will facilitate a reasoned distribution of discrete management functions taking into account the correlation of enterprise costs at different management level along with contributing to settling the technological sequence of operations and assigning them to particular managerial staff. While developing the specific management vectors, the typical functions to meet business processes management needs at rural enterprises in Ukraine have been selected to be applied in practice. The research conclusions offer the following generalizations: the implementation of the key four management process functions is a cyclical process; given the results of control, a new plan is formed, and within the new management process cycle, all functions are preserved. A pathway to effective business processes management at rural enterprises is implementation of an integrated approach which involves the assessment of the set of selected indicators, both quantitative and qualitative, i. e. absolute and relative ones, respectively.
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Sintha, Lis. "IMPORTANCE OF BREAK-EVEN ANALYSIS FOR THE MICRO, SMALL AND MEDIUM ENTERPRISES." International Journal of Research -GRANTHAALAYAH 8, no. 6 (2020): 212–18. http://dx.doi.org/10.29121/granthaalayah.v8.i6.2020.502.
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The current behaviour of Small and Medium Enterprises has to face many problems and the survey are predicted, 47 per cent of Small and Medium Enterprises stop trying. One of the causes is that there are still many small and medium businesses, from the beginning of opening their business up to now, they have never carried out an analysis of profit and loss calculations and a comprehensive calculation of how many product units should be made so that the business returns on capital by looking at production factors or resources used. Break-even analysis is a financial tool that helps decide at what stage a company, or new service or product, will be profitable, which is a financial calculation to decide the number of products or services that a company must sell to cover its costs (especially fixed costs). This research paper is the application of the theoretical concepts of CVP Analysis, Break-Even Point a powerful tool for planning and decision making. highlight costs, quantities sold and prices, which are the company's financial information.
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Dragoi, George, Anca Draghici, Sebastian Marius Rosu, Alexandru Radovici, and Costel Emil Cotet. "Knowledge Base Development in Virtual Enterprise Network as Support for Workplace Risk Assessment." International Journal of Human Capital and Information Technology Professionals 2, no. 3 (2011): 44–60. http://dx.doi.org/10.4018/jhcitp.2011070104.
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The article presents research results based on the concept of collaborative infrastructure (as the virtual enterprise network PREMINV e-platform from “Politehnica” University of Bucharest, Romania), in order to unify existing standards for supply chain management and to provide support in various decision making processes in manufacturing supply networks. The intent is to facilitate and enhance the required knowledge management processes linked with the business process management. The virtual enterprise network expects to reduce small and medium-sized enterprises involvement in networking efforts, enable better and faster decision processes and promote the development of the business services. In addition, the new product development paradigm requires software tools for risk estimation and assessment. For this purpose, the authors describe a knowledge bases method build and use for the professional risk assessment as part of risk management process. The risk level is established based on the probability and severity of its consequences.
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Hsu, Tsuen-Ho, Chun-Hsien Chen, and Ya-Wun Yang. "A Decision Analysis Model for the Brand Experience of Branded Apps Using Consistency Fuzzy Linguistic Preference Relations." Symmetry 13, no. 7 (2021): 1151. http://dx.doi.org/10.3390/sym13071151.
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Branded apps are not only an important platform for enterprises and customers to have real-time interactions and communicate marketing messages, but also a new business model that encourages value co-creation between the two. In order to explore the impact of branded apps on customers, this study constructs a fuzzy multi-criteria decision making (FMCDM) analysis model, and it uses consistent fuzzy linguistic preference relations (CFLPR) to set up a symmetric pairwise comparison matrix, which greatly reduces the complexity and error rate of calculations. Empirical research findings show that brand experience attributes and the influence of brand experience on customer loyalty and satisfaction can be more accurately measured. As a consequence of this study, we show that, among the brand experience facets of two retail chain branded apps, behavioral experience is the most favored, while affective experience is the least favored. Furthermore, brand attachment and active participation should be strengthened to enhance customer loyalty. Through the analytical model employed in this study, enterprises can regularly monitor changes in the brand experience preferences of branded app users and evaluate app performance to flexibly adjust mobile device-based marketing campaigns and strategies. It can also aid enterprises in using mobile devices effectively to improve customer loyalty and address the issue of diminishing brand loyalty.
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Lee, Carman-Ka-Man, Lucas Lui, and Yung-Po Tsang. "Formulation and Prioritization of Sustainable New Product Design in Smart Glasses Development." Sustainability 13, no. 18 (2021): 10323. http://dx.doi.org/10.3390/su131810323.
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Due to fierce competition in the global market, success in product innovation has always been challenging for most enterprises to be able to stand out in business values and product novelty. Typically, available technological features in the market are taken into consideration in the innovation process for differentiation from existing products. In order to enhance the likelihood of innovation success, project portfolio management (PPM) has recently been advocated to examine the supply chain performance of new product development (NPD) projects in terms of economic, social, and sustainable aspects. In this study, a two-stage methodology is proposed to formulate and select the most appropriate NPD project portfolio by means of multi-criteria decision-making (MCDM) approaches in probabilistic and group decision-making processes. In stage one, the available product features on the market are searched for and ranked to indicate a number of potential NPD projects. In stage two, such projects are evaluated by the sustainable supply chain operation reference (SustainableSCOR) model to select the most sustainable NPD project for product development. Moreover, a case study of developing augmented reality (AR) smart glasses is conducted to demonstrate the above methodology, with the result indicating that the functions of voice commands, 3D visualization, and phone calls should be focused on for the next generation of smart glasses.
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Khaled, Abdelilah, and Mohammed Abdou Janati Idrissi. "A Semi-Structured Methodology for ERP System Selection Based on MACBETH and Choquet Integral Applied to Small and Medium Sized Enterprises." International Journal of E-Entrepreneurship and Innovation 2, no. 4 (2011): 1–19. http://dx.doi.org/10.4018/jeei.2011100101.
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Historically, Enterprise Resource Planning (ERP) systems were initially destined to large companies in order to standardize and streamline their key business processes. Recently, they have been increasingly adopted by Small and Medium Enterprises (SMEs). However, making strategic tradeoffs among the various marketplace solutions is a troublesome balance task for SMEs without the rescue of systematic multicriteria decision approaches. This paper addresses the question of how to choose an ERP solution that best suits a given SME. It serves twofold objectives; firstly it defines a set of selection criteria related to SMEs’ context. Secondly, it presents a selection methodology based on the construction of an induced decision model through capturing the decision maker’s preferences. The key contribution of this paper is the introduction of a new iterative learning based approach destined to make enlightened decisions through the consideration of interdependencies among the adopted selection criteria thanks to the Choquet Integral.
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Malashkin, Maksym, Dmуtrо Rуzhаkov, Ilya Kushnir, Iryna Druzhynina, Anatoliy Vakolyuk, and Julia Maximyuk. "FUNCTIONAL AND INSTRUMENTAL APPROACHES TO IDENTIFICATION OF THE BENCHMARKING STRATEGY OF CONSTRUCTION COMPANIES." Management of Development of Complex Systems, no. 45 (March 1, 2021): 150–60. http://dx.doi.org/10.32347/2412-9933.2021.45.150-160.
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In the conditions of turbulent environment, globalization of economic processes, highly competitive market, limited resources, the priority tasks for domestic enterprises are: search for new factors to increase competitiveness; improving and more active use of marketing management tools, and in particular strengthening the importance of its analytical function in strategic decision-making. The solution to this problem is associated with the development and implementation of strategies for active innovative development of enterprises, where the central place should be given to strategic benchmarking, in order to study and apply best practices. It, as the most relevant tool of strategic management, raises research to a qualitatively new level, focuses on anticipating the development of the object of management. Integrating into the management system and corporate culture of the enterprise, strategic benchmarking allows you to set goals that meet the requirements of the global market, to identify the best strategic decisions and business strategies to systematically improve its activities. The need and possibility to use the advanced world and domestic achievements is an urgent need of Ukrainian business. In this regard, the study of methodological approaches to the effective organization of strategic benchmarking and the creation of applied developments that facilitate its implementation in the management system of domestic enterprises, is timely and relevant.