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Decision-making under environmental uncertainty

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  • Gawlik, Remigiusz

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.

Suggested Citation

  • Gawlik, Remigiusz, 2018. "Decision-making under environmental uncertainty," MPRA Paper 93361, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:93361
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    References listed on IDEAS

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    1. Kęstutis Peleckis, 2015. "The Use of Game Theory for Making Rational Decisions in Business Negotiations: A Conceptual Model," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 3(4), pages 105-121.
    2. Remigiusz Gawlik & Gorm Jacobsen, 2016. "Work-life Balance Decision-making of Norwegian Students: Implications for Human Resources Management," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(4), pages 153-170.
    3. Bartłomiej Marona & Anna Wilk, 2016. "Tenant mix structure in shopping centres: some empirical analyses from Poland," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(2), pages 51-65.
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    5. Okasha, Samir, 2016. "On The Interpretation Of Decision Theory," Economics and Philosophy, Cambridge University Press, vol. 32(3), pages 409-433, November.
    6. Gawlik, Remigiusz, 2016. "Methodological Aspects of Qualitative-Quantitative Analysis of Decision-Making Processes," MPRA Paper 72362, University Library of Munich, Germany.
    7. Thomas L. Saaty & Luis G. Vargas, 2012. "Models, Methods, Concepts & Applications of the Analytic Hierarchy Process," International Series in Operations Research and Management Science, Springer, edition 2, number 978-1-4614-3597-6.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    decision-making; management; Analytic Hierarchy Process; geopolitical environment; uncertainty;
    All these keywords.

    JEL classification:

    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • F00 - International Economics - - General - - - General

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