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Diagnostics and decision-making of the company management within the period of economiccrisis and recession

Author

Listed:
  • Pavel TOMŠÍK

    (Faculty of Business and Economics, Mendel University in Brno, Czech Republic)

  • Emil SVOBODA

    (Faculty of Business and Economics, Mendel University in Brno, Czech Republic)

Abstract

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

Suggested Citation

  • Pavel TOMŠÍK & Emil SVOBODA, 2010. "Diagnostics and decision-making of the company management within the period of economiccrisis and recession," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(7), pages 303-309.
    • Handle: RePEc:caa:jnlage:v:56:y:2010:i:7:id:53-2010-agricecon
    DOI: 10.17221/53/2010-AGRICECON
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    References listed on IDEAS

    as
    1. J. Štůsek & L. Ulrych, 2008. "Strategic thinking in the management of agribusinessu companies," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 54(3), pages 117-124.
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    Citations

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    Cited by:

    1. Patrik SVOBODA, 2011. "Application of new approaches in recognizing leases on the part of the lessee in the selected companies in the Czech Republic," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(7), pages 340-349.
    2. Katarina Remenova & Nadezda Jankelova, 2019. "Decision-making style of agribusiness managers," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 65(7), pages 322-330.
    3. Jan HRON, 2012. "Design of experiments for the analysis and optimization of barcodes of food and agricultural products," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(12), pages 549-556.
    4. Hana Štiková, 2012. "Project costs planning in the conditions of uncertainty," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 58(2), pages 72-84.
    5. Shady ALY & Ivan VRANA, 2011. "Combining the crisp outputs of multiple fuzzy expert systems using the MPDI along with the AHP," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(5), pages 217-225.
    6. Jan HRON & Tomas MACAK & Andrea JINDROVA, 2011. "The theory of preferential choice and its utilization in managerial decision-making," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 57(5), pages 211-216.
    7. Ivana TICHÁ & Jan HRON & Jiří FIEDLER, 2010. "Managerial decision making - importance of intuition in the rational process," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 56(12), pages 553-557.

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