Strategic Decision Making in Times of Global Financial Crisis

Gawlik, Remigiusz (2009): Strategic Decision Making in Times of Global Financial Crisis. Published in: Business Strategies and Technological Innovations for Sustainable Development: Creating Global Prosperity for Humanity (2009): pp. 431-439.

Abstract

The presented paper is a brief presentation of findings based on research lead on a group of small and medium businesses. The study has been made in conditions of global financial crisis and its effects, such as fall of production volumes in numerous companies. A number of indexes describing the actual economic situation and short – term prospects of discussed businesses has been presented to their medium- and high level executives in order to point out those most useful when taking strategic decisions. The sample structure consisted of companies with Polish and foreign capital operating locally and internationally. Obtained answers have been grouped in two sets accordingly to the actual situation of a given enterprise. The first group contains indexes preferably used by managers in times of economic instability, whereas the second group shows possible changes in preferences of economic indexes utility in times of prosperity. Research methodology included Delphi method and expert questioning for data gathering and Pareto – Lorenz analysis for interpretation of findings. The study ends with proposals of applications of research outcome into further research directed towards elaboration of a synthetic index facilitating strategic decision making in international companies.

• Item Type: MPRA Paper
• Language: English
• Keywords: Decision Making, Enterprise Development Indexes, Pareto – Lorenz Diagram, International Management
• Subjects: C - Mathematical and Quantitative Methods > C3 - Multiple or Simultaneous Equation Models ; Multiple Variables > C38 - Classification Methods ; Cluster Analysis ; Principal Components ; Factor Models; F - International Economics > F6 - Economic Impacts of Globalization > F62 - Macroeconomic Impacts; F - International Economics > F6 - Economic Impacts of Globalization > F68 - Policy

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