MANAGING A BUSINESS THROUGH VALID BUSINESS DECISION MAKING WITH THE GOAL OF ACHIEVING POSITIVE RESULTS THAT CAN BE INTERNATIONALLY VALUED

Sanda Nastic, Borislav Maric, Bogdan Laban, Vesna Petrovic and Aleksandar Majstorovic
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Sanda Nastic: JKP VODOVOD I KANALIZACIJA
Borislav Maric: MINISTRY OF FOREIGN AFFAIRS OF BOSNIA AND HERZEGOVINA, BOSNIA AND HERZEGOVINA
Bogdan Laban: THE CITY OF SUBOTICE CITY, 24000 SUBOTICA, SERBIA
Vesna Petrovic: UNIVERSITY UNION - NIKOLA TESLA, CARA DUSANA, 11000 BEOGRAD, SERBIA
Aleksandar Majstorovic: FACULTY OF ECONOMICS AND ENGINEERING MANAGEMENT IN NOVI SAD, CVEĆARSKA 2, 21000 NOVI SAD, SERBIA

Annals - Economy Series, 2019, vol. 1, 14-21

Abstract: Management decisions can speed up the work and business operations of the company. This is achieved by the proper selection of measures and activities undertaken by the management in order to achieve the visible effects of the company's operations in a given observation period. The observation period to be taken is at least one business year. In the period of observation of financial and other reports, companies must have realistic values in the books of account, and the results of these activities must be available to state authorities, banks, tax and other inspectors that at any moment can perform and further control of the activities of the company. Timely business decisions must be made in each period of action. The choices made so far can be seen as a decision-making process within the real-life management of the company. The goal of the approach thus presented is the achievement of the given values that the owners of the company or the founders of the company put before management. Verification of decisions is seen at the end of the observation period. The goal of all management decisions is to maximize the profit and survival of the company.

Keywords: financial statements; financial analysis; management; decision making (search for similar items in EconPapers)
Date: 2019
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