Decision-making under environmental uncertainty

Gawlik, Remigiusz (2018): Decision-making under environmental uncertainty. Published in: Przedsiębiorczość i Zarządzanie , Vol. XX, No. Tom I, Część II (2019): pp. 7-19.

Abstract

Goal of the paper: proposal of a model for decision-making enhancement that includes qualitative and quantitative elements influencing managerial decision-making processes under geopolitical uncertainty. Methods: primary: Analytic Hierarchy Process – for assessment of individual and collective utility of indexes describing the functioning of enterprises; secondary: Delphi questionnaires, Pareto-Lorenz diagram, stratified random sampling; AHP evaluations came from six professional managers Results: a mixed qualitative and quantitative instrument bringing geopolitical occurrences into managerial decision-making under turbulent environmental conditions; Practical implications: increased efficiency of managerial decision-making processes, with managerial decisions closer to the possible optimum, under given environmental conditions. Added value: the application of multicriteria models for enhancement of managerial decision-making provides a larger perspective on environmental threats and lowers the decision-making uncertainty.

• Item Type: MPRA Paper
• Language: English
• Keywords: decision-making; management; Analytic Hierarchy Process; geopolitical environment; uncertainty
• Subjects: C - Mathematical and Quantitative Methods > C4 - Econometric and Statistical Methods: Special Topics > C44 - Operations Research ; Statistical Decision Theory; D - Microeconomics > D8 - Information, Knowledge, and Uncertainty > D81 - Criteria for Decision-Making under Risk and Uncertainty; F - International Economics > F0 - General > F00 - General

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