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Exploring the Role of Emotions and Moods in Decision Making: Study on the Use of Structured Decision Approach and Intuition
140-149Views:528Emotions and moods can play a significant role in the decision making. The present paper contest this point by providing evidence on the two important approaches used in decision making that is structured decision approach and intuition. For this purpose data was gathered from 150 respondents in two different groups. Chi square test, independent sample t-test and logistic regression analysis were used to test the hypothesis. The results of the study reveal that individuals with positive and negative mood state vary significantly in their use of structured decision approach and intuition. The individuals with negative mood state are more likely to use all steps of structured decision approach as compared to the individuals in the positive mood state. The results of the study further reveal that the individual’s emotional state significantly predicted the use of structured approach and intuition in decision making.
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Transformation of the Decisional Leadership Role
26-40Views:330Leadership decision-making is important for the successful functioning of organizations, so it is necessary for leaders to understand the factors that impact their decisions. Decision-making is always the responsibility of the leader, but in a changing world, it becomes an even more crucial factor for success. Making good decisions requires time, experience, and thorough problem-solving skills. In my research, through the analysis of scholarly sources, I have identified several role factors that clearly influence the decision-making process and its implementation. Furthermore, I have developed a self-designed questionnaire to examine the decision-making role in modern organizations. I analyzed the data from 230 respondents using various statistical methods. Based on my findings, conflict management, risk-taking, and a thorough understanding of the problem strongly determine leadership decision-making processes. The ability of leaders to effectively manage conflicts significantly impacts their decisions. Risk-taking is also of key importance, as leaders need to recognize the risks associated with a given situation and make decisions accordingly.
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Factors Influencing Female Entrepreneurship
32-55Views:317The following research was conducted with the objective of identifying the factors that influence women to become entrepreneurs. It explores the effectiveness of support mechanisms, including mentorship programs, networking opportunities, access to financial resources, and policy interventions in enhancing the success of female entrepreneurs. Special attention is given to the decision-making threshold concept and the role of self-confidence. A multi-method approach was employed, entailed a comprehensive literature review, a qualitative analysis based on interviews, and a quantitative analysis conducted through surveys. The data obtained from these methods were triangulated to ensure robust insights. The research resulted in a model that illustrates the interrelationship between the scientific, practical and educational approaches. The findings highlight the potential of developing a motivation model for female decision-making in entrepreneurship, identifying key motivators, focusing on economic, social and personal factors with self-confidence as a central concept of study.
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The Governance of Sports Organizations in Morocco: the Case of the Royal Moroccan Federation of Judo and Related Martial Arts
38-50Views:336Governance is crucial for effective sports organization management, particularly as sports organizations increasingly adopt business models. Research inquiries into suitable governance practices in sports have grown, reflecting the evolving landscape of sports management. This qualitative research examined the governance of the Moroccan Judo Federation through semi-structured interviews and analysis using Voyant Tools. Stakeholders, including the vice president, board members, coaches, athletes, referees, technical committee members, and financial manager, provided insights on key aspects of governance. The findings emphasized the importance of strong leadership, effective decision-making processes, transparent governance structures, stakeholder engagement, and ethical conduct. However, challenges were identified in decision-making, stakeholder engagement, conflict resolution, and financial management. Stakeholders highlighted the need for inclusive decision-making processes and transparent and accountable governance practices. By addressing these challenges, the federation can strengthen its governance, support judo's growth, and foster fairness and inclusivity.
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Discussion on São Paulo Mobility Plans
17-33Views:279Since urbanization rising and urban demographic increase, urban transportation has been an important life quality aspect and a strategic decision for cities. Mobility seems to follow citizens' behavior and be influenced by urban cultural changes at the same pace it influences back the city routine and resident’s conduct. The discussion around the future of mobility gained new magnitude nowadays since some sort of vehicles have proved themselves as the cause of significant environmental impact, while others showed themselves as alternatives of low impact for different reasons – from quality public transportation to individual transport with minimized emissions. The city of São Paulo in Brazil published its Master Plan in 2014 and its Mobility Plan in 2015, analyzing the current situation and proposing a future for the city’s transportation system. This paper intends to analyze both plans, construe the popular participation in their formulation and application, discuss how data and strategy were presented and whether they are aligned with other countries’ thinking on the subject. As a city of over 10 million inhabitants, in a Metropolitan Region of 39 cities with over 20 million inhabitants, the transportation system of São Paulo is not an easy or single-solution issue. It is known the need for a combination of different transportation modes, requiring likewise new visions for all methods. Owing to the fact that modes complete each other and, in that manner, may reach a wider range of options for the population to plan daily life, then a system with a great variety of modes ensures the best functioning of them all. This paper focuses on an outsider view that searches for answers and solutions on the São Paulo transportation system, having as a base what is considered outstanding in the world for this issue.
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Strategic Role of Environmental Factors in the Operation of a Manufacturing Company: A Synthesis of Three Analytical Models
56-74Views:271Nowadays, the operations of companies are influenced by increasingly complex internal and external factors, the systematic examination of which is essential for conscious strategy-making. The relevance of this study lies in the context of global economic instability, rapid technological advancement, and intensifying market competition, all of which present new challenges for organizations. The aim of the research is to demonstrate how the analysis of environmental factors can support strategic decision-making, with particular emphasis on a specific company case. The analysis was based on three established methods—PESTEL analysis, Porter’s Five Forces model, and the SWOT framework—which together enabled an integrated examination of macro- and micro-environmental factors as well as internal resources. The results highlighted several key strengths of the company, such as professional expertise, international presence, and the quality of customer relationships, while also identifying several areas in need of improvement, particularly in terms of pricing strategy, digital information accessibility, and internal communication. The novelty of the study lies in the combined application of the three analytical tools, which revealed interrelated insights and served as the basis for well-founded recommendations aimed at enhancing strategic flexibility and strengthening competitiveness.
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Latest Trends and New Tools Being Used in Strategic Management
73-85Views:1000In today’s rapidly changing world, there is an increased need for excellent strategic planning. A firm’s survival may indeed hinge on the firm’s planning process being exemplary. Various aspects of the strategic planning process are under review today as organizations wrestle to compete more effectively in an ever-changing world. This paper reveals and describes five new trends or tools being utilized today by firms to more effectively engage in strategic planning. Specifically, the new trends and tools to be discussed in this paper are as follows: increased need to follow a strategic planning model; increased need to develop quality vision and mission statements; a new improved method for incorporating SWOT analysis into practice. Utilizing two matrices one internal and one external to provide a less biased way to access the current strategy fit with conditions facing the firm. Explain the use of a decision matrix commonly called the QSPM (Quantitative Strategic Planning Matrix) for assessing the relative attractiveness of various strategies being considered for implementation. The purpose of this paper is to familiarize readers with basic new tools and techniques being used by organizations to effectively develop an improved strategic plan for the firm.
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The Situation of Digitization in the Hungarian Food Processing Industry
196-209Views:497Thanks to various technologies, such as nanotechnology, the next decades will completely transform the individual production processes and sectors. With the rapid advancement of information technology, the digitalization and automation of industrial processes pose new challenges for food business operators. Hungarian food companies will be able to keep up with their competitors and be the winners for the next decades if they can successfully adopt these technologies. However, this requires a strong focus on digitization, digital strategy, and directing investment, technology change and R&D activities in this direction. Digitization is one of the decisive directions of the future, which is why I felt it essential to study the level of digitization of Hungarian food companies, IT infrastructure and Internet usage, the use, and role of enterprise management systems, decision support and business analysis tools, and business readiness, Industry 4.0 technology change. Based on the 205 evaluable responses to the questionnaire, it can be said that only a tiny proportion of Hungarian food companies have a digital strategy and only a few have digital transformation.
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Model Calculations on the Use of Mobile and Stationary Units for Wood Pellet Production
1-8Views:404This paper presents the model calculations made for supporting the decision making of different technology alternatives. Base cases were A) use of a mobile pelletizer and B) using pellet factories at fixed locations for the production of a new product, sheep wool pellets. Calculations were made for three alternatives for each base case. The results of the model were used to examine the energy, time and cost criteria of the alternatives. Based on the given preliminaries, results of the model calculations supported the recommendation to choose case B) for further technology management and supply chain management decisions.
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Innovative Strategies and Student Academic Performance: Machine Learning Insights on International Students in Chinese Universities
37-60Views:211The higher education sector in China has faced unprecedented challenges recently due to the global COVID-19 pandemic. The influx of international students, a vital component of the nation's academic landscape, presented distinct challenges, including maintaining academic achievements through various online platforms, which necessitated innovative strategies to ensure that their educational pursuits remained rewarding despite these challenges. This study aims to explore the innovative strategies adopted by Chinese higher education institutions in response to the COVID-19 pandemic and examine their impact on the academic achievements of international students. This study employs a comprehensive approach that incorporates questionnaire surveys and dominant Machine Learning Algorithms, such as Multiple Linear Regression (MLR), Decision Tree Model (DTM), Support Vector Regression Model (SVRM), and K-nearest neighbors (KNN). By employing rigorous data-gathering approaches, our study aimed to address a set of particular questions: How did these innovative strategies improve students' academic performance in the face of environmental emergencies? To what extent did international students benefit from these adaptations? Through investigation of these concerns, our research provides insight into the effectiveness of these strategies and their possible significance for future educational methodologies. Innovative strategies positively correlated with student academic performance during the COVID-19 pandemic in Chinese higher Education. This research highlights how overcoming these challenges can have broader implications for shaping resilient global education systems in future crises. The study accurately predicted academic performance, highlighting the importance of innovative teaching approaches in the context of the COVID-19 pandemic. This study might influence educational policies and practices. Educational institutions can make informed decisions about emergency preparedness and development by assessing results using a creative approach. Our findings bring depth to the global conversation on higher Education under challenging circumstances, showing how Innovation might alleviate the adverse impacts on international students' learning experiences.
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Company Valuation of an Entity Operating in International Accounting Environment
320-331Views:679Company and asset valuation plays a major role nowadays. Determining the company’s value is a key factor for management in appropriate decision making, and it is a necessary step for individuals who wish to invest and for investors. There are numerous models which utilize different methods for company valuation. In our study we based our valuation on the McKinsey model for a company in an international accounting environment. In the study we present the main attributes of the McKinley model, its structure, which includes the main steps of valuation. We put a special emphasis on the calculation of free cash flow, future balance sheets and profit and loss accounts anticipation as well as future turnover, which highly influences the changes of data in the future reports thus in the company value. The McKinsey model is a discounted cash flow model, in which the company value and the consequent future cash flow can be determined as present value.
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Sustainability in Urban Waste Management: The Efficiency of Electric Waste Transport Vehicles
1-18.Views:207This study evaluates the long-term economic feasibility of electric waste collection vehicles (EVs) as a sustainable alternative to diesel-powered counterparts in urban municipal services. Using real operational data from a Hungarian waste management company, we developed a total cost of ownership (TCO) model spanning 10 years, which incorporates investment costs, energy consumption, maintenance, depreciation, and battery replacement. Our analysis reveals that although EVs require a significantly higher upfront investment (€350,000 vs. €183,200), their lower operational and maintenance costs result in a break-even point around year 8. When accounting for a €50,000 battery replacement in year 6, the total 10-year cost of the EV remains lower (€431,769 vs. €450,914) than the diesel vehicle, resulting in a net saving of €19,145. The study emphasizes the significance of local energy prices and service structures in assessing fleet electrification. While the findings are based on Hungarian data, the proposed methodology can be adapted internationally to support data-driven decision-making in sustainable waste logistics.
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Solutions of Warehouse Technology in Connection with Management Decisions
1-10Views:198The aim of the study is to analyse the effect of management decisions on space utilization of warehouses through two companies’ example. The only way to make good decisions is to take into consideration the possible effects of changes. One of the tire manufacturing companies managed to improve space utilization, caused not only time but cost reduction. On the contrary, a bad decision of a household chemical factory induced enormous problems in the material flow.
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Case Study of Unilever's Zero-Emission Target Realization
16-36Views:603This paper presents a detailed case study of Unilever’s strategy and progress toward achieving zero carbon emissions, focusing on Scope 1, 2, and 3 emissions. The study analyzes a 10-year time series of both financial and non-financial data to assess the relationship between sustainability indicators, such as greenhouse gas (GHG) emissions, total and renewable energy use, and the company’s operating profit. Forecasting techniques were applied to project future emission levels based on historical data, while correlation analysis was used to evaluate the relationships between key variables. The results show a strong positive correlation between total energy use and CO₂ emissions, highlighting the importance of energy efficiency in emission reduction efforts. However, no significant correlation was found between operating profit and CO₂ emissions or energy use, suggesting that sustainability initiatives have not yet had a measurable direct impact on profitability. Despite this, Unilever has demonstrated substantial progress toward its climate targets, including a 91% reduction in CO₂ emissions per ton of production (compared to a 2008 baseline) and the transition to 100% renewable electricity in many of its facilities. The study concludes that while sustainability measures may not immediately influence profit margins, they are essential for long-term competitiveness and corporate responsibility. This case provides valuable insights for firms aiming to integrate environmental performance into strategic decision-making.
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Testing Methods of Green Supply Chain, in Particular Supplier’s Selection an Evaluation Tools
240-254Views:540Today, more and more articles have emerged in the field of sustainability and sustainable development. Sustainability plays an important role in supply chain management too. Green Supply Chain Management (GSCM) has emerged as a key approach for enterprises seeking to make their businesses environmentally sustainable. The notion of GSCM implies the insertion of environmental criteria within the decision-making context of the traditional supply chain management. Enterprises are increasingly expected to extend their sustainability efforts beyond their own operations to their suppliers and customers to their sustainability expectations. Literature of green supplier evaluation and selection methods number is large, though the number of environmental factors are relatively limited. Recently in supply chain management decision making, approaches for evaluating green supplier performance have used both qualitative and quantitative environmental data. Given this evolving research area, the purpose of this article is to analyse research conducted in international scientific journals focusing on the selection and evaluation of a green supplier. The purpose of this article will answered two questions: Which selection methods are commonly used? What environmental and other selection criteria for green supplier management are popular?
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Quality Indexes of Warehouse Services
1-13Views:540There was a wide range and rapid development in the field of warehouse management in the recent decades as a result of strong and spectacular improvement of establishing and operating warehouses, in addition to increasingly complex logistic processes. In my research, I analysed the complex problems of determining the performance expectedfromoperatingthewarehousetechnologicalsystem. Thisdecisioninvolvestheselection of the essential performance indicators suitable for performance measurement and the determination of the expected performance level based on these indicators through the example of an examined enterprise. During my research, I concluded that the logistic performance measurement of warehouse processes is a very difficult process, because all enterprises have to define and use indexes which adapt to the enterprise profile well and reflect the performance to be measured. This decision is of key importance, since the warehouse system and its operation principles have to be adjusted to this expected performance.
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Dimensions of Ethnocentric Emotions in Hungary
136-147Views:285The concept ot ethnocentrism appeared first in the literature in the early 1900s. Since then, several international and national studies have focused on defining this concept and have aimed at the investigation of its role in terms of national and international product opinion. The consumer’s decision is influenced not only by the different marketing effects (product, price, place, promotion), but also by the cultural, social, personal and psychological characteristics of the costumers. The examination of ethnocentrism – as a socio-psychological concept – is increasingly important in marketing research. This paper focuses on exploring the dimensions of ethnocentric emotions. My aim is to support the assumption that these dimensions have a significant influence on the thinking of the consumer society. As a result of my primary research, I introduce these dimensions and terminate consumer segments. Based on my research it can be stated that the ethnocentric emotions (such as patriotism, national superiority, national consciousness, national discrimination) are determinants of consumer thinking and demonstrate the fact that awareness of ethnocentric emotions can be the basis for marketing strategies to protect national products.
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A márkázás hatásainak vizsgálata a fogyasztói magatartásra két FMCG vállalat példáján keresztül
1-16Views:563Over the last few years, companies have realised the significance of the image they represent and besides building the brands of their products, they started to concentrate on forming the brand of the company.We wanted to examine the world of corporate brands at two FMCG (fast moving consumer goods) companies. The aim of there search was to discover the connection between consumers and brands, product brands and corporate brands; how corporate brand influences customers during purchased ecision making. The effect of consumers’ knowledge was also observed about the companies on consumers’ habits. We have assumed that from the viewpoint of some customers, choosing among several products is often based on the perception of the brands and products alone and it has little to do with the corporate brand. Although, if one of the companies has a strong corporate brand, an idea built around it, and its message is communicated effectively, when it comes down topic king sides, the brand of the company could be essential to decision making.
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Maintenance Strategies and Life Cycle Costs of Renewable Energy Systems
106-116Views:215Life cycle costs are important factors in decisions on renewable energy investments. Since maintenance costs generally constitute a high portion of the life cycle costs, the maintenance strategy applied in a project can affect the bottom line significantly. The effective maintenance tools used in the production industry (e.g., diagnostics, condition monitoring, data management, integrated information systems, machine learning, and automated decision making) can be involved in planning and maintenance of renewable energy systems to gain the benefits of these approaches. In this paper the effects of maintenance strategies on life cycle costs are investigated and the benefits of up-to-date condition monitoring techniques are presented through case studies.
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Investments and Their Financing Risks and Risk Management Trends in the Last 10 Years
184-203Views:301The purpose of our literature review was to understand the state of research related to management of risk of corporation’s investments and their finance within the past 10 years. Nowadays the risk management and problem solving are characterized by holistic approach and complexity - and these tendencies we can see clearly. We need to examine the likvidity, financing and investment questions together, because of the interactions between them. They can influenced the corporate value together. The role of risk management in the investments is the cash-flow smoothing (we mean: cash-flow generated by investment). The field of corporate finance is noticeably inseparable from other areas of business science (at least in the empirical analyses), and even technical issues, like risk management, have long been considered suitable appropriate in an integrated form. The financial and operational hedging has become indispensable elements of the managerial toolbar. The consequence of crisis (from 2007) promotes the birth of many studies that justify it. The researchers are paying close attention the transaction costs, such as costs of contracts or agent costs, and the losses due to information assimetry. The statements of behavioral finance connection with managerial decisions mean important additives in this field.
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Knowledge of Control Methods and their Application in the Practice of Small and Medium Enterprises in the Northern Great Plain Region
441-452Views:535Like large companies, the small, and medium-sized businesses need also all the information to ensure the efficiency and effectiveness of their business by making sound management decisions. Compared to large companies, SMEs have significant development potential, which can be created in part by the companies themselves, possibly through the introduction of new-modern management - business administration methods or economic policy measures (= targeted and efficient support system), which, by stimulating R & D & I processes, serves to increase competitiveness and contribute more and proportionally to domestic GDP and exports. The analysis presented in the study covers the controlling knowledge of the leading SMEs of the Northern Great Plain Region, the conscious or unconscious application of controlling tools, the assessment of succession, customer and supplier valuation and certain areas of managerial accounting. Overall, it can be concluded from the small sample size that the use of controlling tools is proportional to the size of the business, but nevertheless, many mid-size business executives do not require the collection and analysis of insider information that could explicitly help decision making for example through advanced costing procedures.
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International Financial Reporting Standards Convergence Process for Small and Medium-Sized Entities
1-12Views:719The "International Financial Reporting Standards (IFRS) Convergence Process for Small and Medium-Sized Entities (SMEs)" seeks to address the unique challenges and requirements faced by smaller businesses in adhering to international accounting and reporting standards. This initiative recognizes that SMEs operate in diverse economic environments and have distinct financial reporting needs compared to larger enterprises. The primary purpose of this convergence process is to enhance the relevance, accessibility, and practicality of IFRS for SMEs, fostering consistency in financial reporting practices across global markets.A project to create accounting standards appropriate for small and medium-sized businesses (SMEs) is being worked on by the International Accounting Standards Board. This abstract provides an overview of the convergence process involving International Financial Reporting Standards (IFRS) for Small and Medium Sized Entities (SMEs). With the global landscape of financial reporting constantly evolving, the integration of IFRS tailored specifically for SMEs marks a pivotal transition towards harmonizing financial reporting practices. This paper examines the essential elements and implications of this convergence, addressing the challenges and benefits faced by SMEs as they align with these international standards. The analysis delves into the driving factors behind the convergence, including the necessity for a unified and transparent financial reporting framework, aiming to facilitate comparability and accessibility of financial information across borders. Furthermore, the abstract discusses the potential impact on SMEs' financial reporting quality, decision-making processes, and access to capital. Through a comprehensive review of the convergence process, this abstract seeks to contribute to the understanding of the significance and implications of adopting IFRS for SMEs, thereby providing valuable insights for practitioners, regulators, and stakeholders in the financial reporting ecosystem.
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Corporate Performance Measurement in the E-Commerce
80-91Views:495Performance of the domestic online commerce showed a dynamic increase in recent years and, based on the expected forecasts, this trend will be realized in the future as well. In Hungary, the number of electronic commerce undertakings is estimated to be within a range of between 5 000 and 6 000 pieces and this number is steadily increasing. Today, the opportunities offered by the internet play an increasingly significant role in every segment of the economy. In the increasing market competition, it is no longer sufficient to serve the local population. Driver of the internet commerce is a marketing activity therefore the performance measurement is a priority. The excellent result and success essentially and principally depend on the performance, in addition to luck. Performance is understood as the measurable results or, in the broad sense, the successful efforts which are made to achieve the organizational objectives. The performance measurement is a measurement process of the efficiency and economy of an activity. Its aim is to support the decisions and actions related to the operation of the undertaking. The performance measurement is not only a decision support tool but also an element influencing every level of the decision-making system; it has an effect on the actions of stakeholders. Its danger and importance are simultaneously the fact that its improper operation (application of incorrect yardstick) can result in a functioning contrary to the corporate objectives. My aim is to survey the corporate performance measurement practice, to assess the connection between the financial and operational performance as well as to analyse the connection between the performance measurement practice and the performance achieved.
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Floodresc – Disaster Management in case of Flooding in the Hernad Watershed
181-187Views:187The aim of the Floodresc project is to develop a GIS based decision support system that can help the defense and rescue operations of the Disaster Management Directorate during any floods in the Hernád River. In the project, a geospatial database covering the entire river basin, a modeling application for predicting the extent of flooded areas in time, and a logistics model supporting defense-related transportation tasks will be developed.
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Decision Support for Difficulties in a Furniture Manufacturing Company
405-418Views:227In “Decision support for difficulties in a furniture manufacturing company” titled work we are presenting in detail the operation of a particular furniture company and the difficulties encountered during its operation, which they try to overcome in some way so that they do not hinder the operation of the company. After that, we will show how we wanted to achieve the production support system. In different versions, we detail what we actually wanted to accomplish while showing results that illustrate the evolution of the system. We also present the difficulties of the development, which is made in Java. We also present the latest version of the system and its results. After processing the input parameters, the system is able to produce results using scheduling algorithms that can help in making important decisions during production planning.
