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CHAPTER 4 Econometric approach to justification of managerial decisions
Keywords:
Managerial decision, Managerial decision, managerial decision making model, managerial decision making model, managerial decision making mechanism, managerial decision making mechanism, crisis, crisis, macroeconomic imbalances, macroeconomic imbalances, problem, problem, econometric approach, econometric approach, data-driven decision-making, data-driven decision-making, Highest Paid Person's Opinion, Highest Paid Person's Opinion, data-driven decision making capability, data-driven decision making capability, nformation and analytical support of managerial decisions, nformation and analytical support of managerial decisions, regression model, regression model, econometrics, econometrics, canonical analysis, canonical analysis, taxonomic analysis, taxonomic analysis, cluster analysis, cluster analysis, principal component method, principal component method, tree of opportunities, tree of opportunities, migration policy, migration policy, economic security, economic security, innovative development, innovative development, living standards of the population, living standards of the population, innovation infrastructure, innovation infrastructure, development management, development management, local development strategies, local development strategies, regional tourism markets services, regional tourism markets services, tourism, tourism, hotel and restaurant industry, hotel and restaurant industry, personnel innovation potential, personnel innovation potential, strategic management, strategic management, cognitive model, cognitive model, strategic process concept, strategic process concept, strategic decision, strategic decision, strategic change, strategic change, SWOT analysis, SWOT analysis, Potential square, Potential square, competitiveness, competitiveness, efficiency, efficiencyAbstract
The analysis of existing approaches to making managerial decisions was carried out; their content and properties are determined. The author's understanding of the concept of "econometric approach to managerial decision-making" is proposed as a combination of the properties and principles of systemic (acceptance and understanding of the hierarchy of variables and their relationships, preservation of the principle of consistency) and situational approaches (accounting for system analysis, analysis of the content and dynamics of each individual situation) with an emphasis on application of econometric methods and models. The advantages and disadvantages of the econometric approach to managerial decision-making are determined. The general econometric methods of substantiating managerial decisions and their consequences are described.
A review of the practices of applying the econometric approach to substantiate managerial decisions has been carried out, as a result of which the expediency and effectiveness of using econometric models and methods at all stages of managerial decision-making have been determined, but they acquire special significance in the process of substantiating managerial decisions.
The methodological tools of the econometric approach to substantiating strategic decisions to ensure economic security, namely, taxonomic and canonical analyzes, have been determined. The statement about the existence of a connection between the standard of living of the population and the level of innovative development of the regions was proved, which made it possible to formulate strategic solutions for ensuring economic security. The matrix "economic security – standard of living – innovative development" is proposed to justify the decision to apply strategies to ensure economic security through changes in the level of innovative development and the standard of living of the region's population (transformation strategy, innovative development strategy, human development strategy and growth strategy).
ECONOMETRIC MODELING OF MANAGERIAL DECISIONS AT THE MACRO AND MICRO LEVELS
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Published
November 5, 2021
Copyright (c) 2021 Oksana Chernega, Uyrii Yakovenko, Anastasia Chepurnova, Oleksandra Makieieva, Olena Nieizviestna, Natalia Ivanova, Viktorija Koverza, Volodymyr Kotkovskyi, Yevhenii Tryhubchenko, Tetiana Kozhukhova, Yuliia Bocharova, Lyubov Shevchenko, Valentina Barabanova, Valery Yankovsky, Yuliia Lyzhnyk, Yuliia Vorobiova, Viktoriia Koshel, Ganna Gorina, Galina Bohatyryova, Olha Nikolaichuk, Svitlana Revutska, Nataliia Pryimak, Radion Nykyforov, Oleksandr Romanykha, Kateryna Khavrova, Nataly Lokhman, Maria Kolchuk, Alexander Kravtsov, Eugene Klevtsov
Details about the available publication format: PDF
PDF
ISBN-13 (15)
978-617-7319-37-4
Details about the available publication format: Hardcover
Hardcover
ISBN-13 (15)
978-617-7319-38-1
How to Cite
CHAPTER 4 Econometric approach to justification of managerial decisions. (2021). In O. Chernega, U. Yakovenko, A. Chepurnova, O. Makieieva, O. Nieizviestna, N. Ivanova, V. Koverza, V. Kotkovskyi, Y. Tryhubchenko, T. Kozhukhova, Y. Bocharova, L. Shevchenko, V. Barabanova, V. Yankovsky, Y. Lyzhnyk, Y. Vorobiova, V. Koshel, G. Gorina, G. Bohatyryova, O. Nikolaichuk, S. Revutska, N. Pryimak, R. Nykyforov, O. Romanykha, K. Khavrova, N. Lokhman, M. Kolchuk, A. Kravtsov, & E. Klevtsov, ECONOMETRIC MODELING OF MANAGERIAL DECISIONS AT THE MACRO AND MICRO LEVELS. Kharkiv: TECHNOLOGY CENTER PC. https://doi.org/10.15587/978-617-7319-37-4.ch4
