METHODICAL PRINCIPLES OF MANAGEMENT DECISION MAKING

Abstract

The purpose of the study is to consider methods and models of justification and management decisions, and to develop proposals to improve the efficiency of this process. The urgency of the topic is due to the fact that the adaptation of enterprises to changing conditions of the internal and external environment is one of the main tasks of sustainable development of the economy as a whole. To achieve this, management decisions need to use approaches that take into account the maximum number of factors that affect the behavior of domestic enterprises. The study used a systematic approach, monographic method and generalization method – to clarify the nature and features of the process of preparation and decision-making; abstract-logical method, deductions and inductions – for the study of models and methods of managerial decision-making. It is proved that the management decision can be considered as the main content of the management process and an important tool of a systematic approach to the activities of any enterprise. The essence, structure and stages of the management decision-making process are clarified. Factors influencing managerial decisions are identified. These include: personal assessments of the manager, risk and uncertainty, time, cost of information, the relationship of management decisions. It is noted that there are two approaches to the study of the decision-making process: normative and descriptive. In the first case, researchers build a theory on the study of formalized methods, and in the second case – on the basis of studying the psychology of decision-making. Both of these approaches are necessary and complementary. Methods (formal, heuristic and methods of expert assessments) and models (physical, analog and mathematical) of managerial decision making are considered. The effectiveness of the managerial decision-making model may be reduced under the influence of unreliable initial assumptions and assumptions, and information constraints. Measures to improve the technology of managerial decision-making and increase their efficiency are proposed. The practical value of the article is that the proposed measures to improve the organization of management decisions can be used to improve the quality of domestic enterprises.