Economic Calculus and Weak Signals: Prevention Against Foggy Bottom

Zbyslaw Dobrowolski, Grzegorz Drozdowski, Monika Dobrowolska, Janusz Sobon and Dariusz Sobon

European Research Studies Journal, 2021, vol. XXIV, issue 2 - Part 1, 165-174

Abstract: Purpose: Investment decisions are taken based on an economic calculation, considering the analysis of a diverse and partially unpredictable economic environment. Each enterprise's economic calculus is treated as a decision based on rationality and serves as an instrument to support the investment measure's selection. Despite different studies, there is a research gap in the usage of weak signals in economic calculus. Meanwhile, the spectacular collapses of well-recognised firms resulted from weak identification of coming failures. Approach/Methodology/Design: The authors carried out an integrative literature review to generate new knowledge on the usage of weak signals in economic calculus insights in this paper have emerged iteratively. Findings: Based on an integrative literature review, the authors offer the potentially radical generalisation that firms must use weak signal analysis during the process of economic calculus creation. Practical Implications: The article brings several valuable information that can be the base material and reference to further research. Study results can be a starting point of discussion and analysis on each firm, both from the public and private sectors. Originality/Value: The original study aims to initiate discussion and further research weak signal analysis in economic calculus. It is the first such research.

Keywords: Business economics; management; risk; uncertainty; public administration. (search for similar items in EconPapers)
JEL-codes: G0 M1 M2 Z0 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xxiv:y:2021:i:2-part1:p:165-174

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