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Method of decision tree applied in adopting the decision for promoting a company

Author

Listed:
  • TOFAN, Cezarina Adina

    (Spiru Haret University)

Abstract

The decision can be defined as the way chosen from several possible to achieve an objective. An important role in the functioning of the decisional-informational system is held by the decision-making methods. Decision trees are proving to be very useful tools for taking financial decisions or regarding the numbers, where a large amount of complex information must be considered. They provide an effective structure in which alternative decisions and the implications of their choice can be assessed, and help to form a correct and balanced vision of the risks and rewards that may result from a certain choice. For these reasons, the content of this communication will review a series of decision-making criteria. Also, it will analyse the benefits of using the decision tree method in the decision-making process by providing a numerical example. On this basis, it can be concluded that the procedure may prove useful in making decisions for companies operating on markets where competition intensity is differentiated.

Suggested Citation

  • TOFAN, Cezarina Adina, 2015. "Method of decision tree applied in adopting the decision for promoting a company," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 6(3), pages 47-54.
    • Handle: RePEc:ris:sphecs:0229
    as

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    References listed on IDEAS

    as
    1. Cezarina Adina TOFAN, 2013. "Information System - A Component Of The Management System," Review of General Management, Spiru Haret University, Faculty of Management Brasov, vol. 17(1), pages 188-194, MAI.
    2. BONDREA , Aurelian A. & GÂRDAN , Daniel Adrian & GEANGU , Iuliana Petronela, 2010. "The Role Of Strategic Planning In Relationship Marketing," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 1(4), pages 53-60.
    3. Cezarina Adina TOFAN, 2009. "The Management Of The Informatics Systems Projection," Review of General Management, Spiru Haret University, Faculty of Management Brasov, vol. 10(2), pages 40-49, november.
    4. Tofan, Cezarina, 2009. "Data Base Concerning The Costing Management," Papers 2009/96, Osterreichish-Rumanischer Akademischer Verein.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    decision; decision-making methods; decision trees; information system;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • L61 - Industrial Organization - - Industry Studies: Manufacturing - - - Metals and Metal Products; Cement; Glass; Ceramics
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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