Decision-making under environmental uncertainty

Remigiusz Gawlik

MPRA Paper from University Library of Munich, Germany

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.

Keywords: decision-making; management; Analytic Hierarchy Process; geopolitical environment; uncertainty (search for similar items in EconPapers)
JEL-codes: C44 D81 F00 (search for similar items in EconPapers)
Date: 2018-10-20
New Economics Papers: this item is included in nep-env and nep-upt
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Published in Przedsiębiorczość i Zarządzanie Tom I, Część II.XX(2019): pp. 7-19

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