Making an entrepreneurial decision. Development of managerial decisions in entrepreneurial activity The function of making managerial decisions in entrepreneurial activity
technology features
decision-making in business
activities
Kharasova Aisylu Salavatovna
postgraduate student of the Department of Finance and Banking [email protected]
Blazhenkova Natalya Mikhailovna
Doctor of Economics sciences, professor, head. Department of Finance and Banking [email protected]
Ufimsky State University economy and service
annotation
The article discusses the features of technology for making managerial decisions in entrepreneurial activity.To formalize the procedures for the development and implementation of management decisions, the authors propose a conditionally typical version of the development and adoption of management decisions.
Key words: decision maker (DM), management methods, entrepreneurial activity, managerial decision, stages of decision development
In entrepreneurial activity, rash and unreasonable decisions of the management can cause financial losses and bankruptcy of the enterprise. Competitiveness directly depends on how timely, rational and effective decisions will be made. successful operation and enterprise development.
Business Management
Entrepreneurial activity has its own specifics of conducting economic activity, as a rule, accompanied by increased risks, which determines the features of the technology for making managerial decisions. Features of management in entrepreneurial activity are as follows:
The execution of managerial functions, as a rule, is concentrated on one person - the leader;
The whole process of developing, adopting and implementing a management decision takes a very short period of time;
Heads of business structures in most cases do not use the services of consulting companies making decisions independently and bearing all the risks and consequences of making erroneous and ill-considered decisions;
Often, the owners of entrepreneurial structures are also their leaders.
The process of managing business activities is always implemented through the adoption and implementation of management decisions, the development of which is called the technology for developing (making) management decisions.
The technology of managerial decision-making in entrepreneurial activity is a logically ordered sequence of stages containing a certain set of procedures, the implementation of which ensures the choice of the best option for solving the identified problem situation based on an analysis of the external and internal environment, goals and selected criteria, and taking into account the potential and prospects for the development of the organization .
However, in practice there is no single technology for the decision-making process, since each entrepreneur has his own individual technology for developing and making decisions. Depending on the level of complexity of the decision being made, the number of stages and the duration of the development process vary. As a rule, the results of all stages of the development and adoption of managerial decisions largely depend on those who participated in their preparation, and the main role is played by the personal characteristics of managers, depending on which managers react differently to emergencies.
to services
consulting companies,_
on one's own_
and taking all the risks ----
the occurrence and severity of the problem and diagnose it in different ways.
Effective entrepreneurial activity today is no longer possible without modern management technologies based on information technology, designed to ensure the progress of all communication processes in business. Besides, market conditions functioning require more and more efficiency of management, especially in the development and implementation of management decisions. In a period of sharp changes in the market, a reduction in the duration of the circulation cycle of products and services, and instability of consumer demand, the adequacy of information base for making management decisions, as well as continuous monitoring of their implementation. In this regard, it becomes relevant to use modern methods information technologies for the preparation of management decisions as one of the most important tools for business development.
A managerial decision is a choice that a decision maker (DM) must make in order to ensure the fulfillment of the tasks assigned to him by his official duties.
An analysis of the terminology leads us to the conclusion that the concept of "solution" carries two semantic
Loads.
First, decision is a process
Choosing one option from several
Possible alternatives. Criteria for choosing
Or another variant of actions from a set of alternatives, the following: the degree of progress towards the goal,
Required effort, cost (costs, investment)
Niya), risk, time frame.
Secondly, the decision is understood as the result
The choice of one or another variant of actions from the
Gestures of alternatives. This eliminates the possibility of choosing more than one option.
Both interpretations are united in one thing: there is a solution
The choice of the best, according to decision maker, alternative
You are from many possible, each of which
Can be implemented in practice
Lena method with some final result
Effective
Entrepreneurial
Activity
Impossible without
Modern
managerial
technology,
Providing a move
all communication _processes
The role and significance of management decisions determine a number of requirements that are imposed on them: optimality, efficiency, legality, specificity, simplicity of form and clarity of content.
According to I.N. Gerchikova, managerial decision-making is a creative process in the activities of managers at any level, which involves:
Goal development and setting;
Analysis of the problem situation based on the study of available information;
Formation and justification of a set of criteria for efficiency (effectiveness) and assessment of the possible consequences of the implementation of one or another solution option;
Choice from many options problem solving optimal solution;
Acceptance and approval of the selected solution option;
Concretization and bringing to the executors of the solution for its implementation.
Management Decision Making Process
In fact, the process of making managerial decisions is the basis of management, a specific type of activity that is continuously carried out at all levels of management. In the very general view management decision is considered as a process consisting of three successive stages.
1) Preparation of a management decision involves an analysis of the current situation in the external and internal environment enterprise, includes the search, collection and processing of information necessary for analysis, as well as the diagnosis and specification of the problem that needs to be solved.
2) Decision making - based on the available information, the development and evaluation of alternative solutions and a set of actions for their implementation is carried out. A system of criteria for choosing the optimal solution from a set of acceptable options is formed, the selection and adoption of the best solution is carried out.
to managerial
decisions_
presented_
following_
requirements:_
optimality,_
efficiency,
legitimacy,_
concreteness,
simplicity of form
Rice. The process of developing and implementing a management decision in business activities
3) The implementation of the solution involves the implementation of a set of measures to detail the solution and bring it to specific executors, monitoring and control over the implementation of measures to implement the solution, the necessary adjustments are made and the result is evaluated.
Comparison of the main stages of the technology for the development of management decisions, outlined by domestic and foreign researchers, revealed some discrepancies in them. This led to the expediency of creating a conditionally typical option for the development and adoption of a managerial decision for decision makers in the course of entrepreneurial activities that meets the requirements for prompt analysis of the situation in business, the choice of a solution to the problem and its implementation.
In our opinion, the technology for developing and implementing a management decision in business should include the following steps and procedures (see Fig.). The stages of the process of development and implementation of a management decision presented in the figure should be carried out within the framework of a single mechanism for making management decisions, designed to ensure the integrity and consistency of the procedures of each stage in order to ensure the quality of the management decision, which is revealed at the control stage and is determined by its final result (the degree of achievement of the goal or contribution to the overall purpose of the organization).
The quality of the management decision is ensured by:
Correct statement (recognition) of the problem;
Quality of information (timeliness, reliability, relevance);
Qualification and value orientations of decision makers.
To improve the efficiency of the process of developing management decisions, one should also pay close attention to such a promising management tool as controlling. Integrating traditional management methods - planning, accounting, analysis and control, controlling is a single system collecting, processing, summarizing information and providing it with the processes of developing and making managerial decisions.
controlling_
suggests_
availability of mechanisms
self-regulation
management,
in particular -_
feedback_
in the control loop
It is important to note that controlling implies the existence of management self-regulation mechanisms, in particular, feedback in the control loop, the implementation of which provides the possibility of coordinating and adjusting control actions in accordance with the goals of the activity and the conditions for its implementation.
Effective decision making is a prerequisite professional performance managerial functions and the guarantee of achieving the set goals. The technology of managerial decision-making is a central link in the theory and practice of management.
Literature
1. Gerchikova I.N. Management. - 4th ed. - M.: Unity-Dana, 2012. - 511 p.
2. Gribanov Yu.I., Ershov K.O. Information Support controlling systems at an industrial enterprise // Russian Journal of Entrepreneurship. - 2013. - No. 2. - S. 66-72.
/1umladze R.G. Management in the agro-industrial complex. - M.: KnoRus, 2011. - 382 p. 4. Pytkin A.N., Blazhenkova N.M. Comprehensive assessment effectiveness of economic organization based on management information // Economic and humanitarian sciences. -2009. - No. 1. - S. 196-202.
Ytkin A.N., Misharin Yu.V. Analysis of the basic structure of management factors of organizational and economic systems // Bulletin of the Perm University. Series: Economy. - 2013. - No. 4. - S. 20-25.
6. Pytkin A.N., Necheukhina N.S. Methodological bases for improving accounting in the controlling system industrial enterprise // Economic analysis: theory and practice. - 2010. - No. 3. - S. 11-16.
7. Pytkin A.N., Chernikova S.A. Features of enterprise restructuring agro-industrial complex in innovative integration formations: Monograph - revised. and additional -
Perm: ANO VPO "Perm Institute of Economics and Finance", 2013. - 184 p.
8. Shishkin D.G., Gershanok G.A. Significance and classification of entrepreneurial structures // Russian Journal of Entrepreneurship. - 2012. - No. 22. - S. 63-69.
Aysylu S. Kharasova
Postgraduate at the Chair of Finance and Banking, Ufa State University of Economics and Service
Natalia M. Blazhenkova
Doctor of Science, Economics, Professor, Head of the Chair of Finance and Banking, Ufa State University of Economics and Service
Peculiarities of technology of managerial decision-making in business activity
The article discusses the peculiarities of technology of managerial decisionmaking in business activity. The authors propose a relatively typical model of development and taking of managerial decision to formalize the procedures for development and implementation of managerial decisions.
Keywords: decision maker (DM), methods of management, business activity, managerial decision, stages of development of a decision
The main action of a mental nature is the entrepreneur making a decision related to the idea under consideration, which can be one of three:
a) start implementing the idea;
b) refuse to use the idea;
c) set aside certain period(for example, until certain conditions or circumstances occur, say, until a certain capital is accumulated) the beginning of the implementation of the idea.
The entrepreneur's decision is made on the basis of the revealed information, the economic calculations made, and is the result of a psychological conviction in the correctness of the information available and in the ability to carry out the actions intended for the implementation of the idea.
Every entrepreneur has a selfish economic interest, which, for any motivation of the entrepreneur, is expressed by the amount of profit. For this reason, self-organization involves identifying potential economic effect implementation of a business idea. If an entrepreneur has several business ideas and needs to choose one of them, the possible results of the implementation of each of the ideas are compared. Therefore, it is advisable for an entrepreneur to compare the desired profit with the expected result at the stage of making an entrepreneurial decision.
The idea is studied by the entrepreneur in terms of its compatibility with the business environment in which it will be implemented. To do this, the business environment is analyzed in conjunction with the business idea, or rather, the business idea and possible forms of its implementation within the business environment are analyzed. The purpose of such an analysis is the need for additional actions that the entrepreneur must take to implement the idea, as well as to determine the principles of his behavior within the business environment, the observance of which will help the effective implementation of the idea.
The entrepreneur most often begins the analysis by identifying those personality traits that are required for the effective introduction of the entrepreneur with his specific idea into the surrounding business environment.
First of all, the entrepreneur identifies the form in which the entrepreneurial function should be carried out, related to the implementation of a specific idea in a specific business environment. The set of such forms is small - the entrepreneurial function can be carried out in the form of the so-called lone fighter, i.e. on an individual basis, or in the form of a team, i.e. a group of like-minded people. The choice of form depends on both the idea and the business environment. For example, the idea of creating commercial enterprise can be carried out by a "lone fighter", and the idea of creating, for example, a structure for assembling computers may require the selection of an appropriate team, since professionals of different directions are needed.
The entrepreneur is simultaneously trying to find an answer to the question of how legal the proposed activity for the implementation of the considered business idea is within such a business environment, and if it turns out that the implementation of the idea involves the use of any prohibited methods, then he either refuses such an idea or deliberately commits illegal or semi-legal activities.
The entrepreneur also tries to identify the nature of the future strategy of his actions within the business environment with which he would like to integrate through the implementation of a business idea. The nature of the strategy can be defined as aggression, offensive, defense.
The entrepreneur is trying to find out what interests are affected when he enters the business space and how the one whose interests are affected can react to this fact.
When comprehending this problem, it is important to identify the risks inherent both in the idea itself and in the process of its implementation in a particular business area. Preliminary identification of risky moments allows the entrepreneur to focus on such risk factors in the future, in the process of implementing the idea, and, possibly, to determine in advance insurance actions that prevent such risks.
Understanding the compatibility of the business sphere and the business idea allows the entrepreneur to model an effective tactic for entering the business sphere through the implementation of his business idea.
Analysis of the business idea and the business environment makes it possible to determine the amount of capital required to implement the idea. The entrepreneur carries out this action through the development of a business plan or a feasibility study (feasibility study).
The entrepreneur reveals the cost of those actions that must be carried out to create necessary conditions in the production of goods, products, services, acting as the basis of a business idea. In this case we are talking on determining the required amount of initial (or start-up) capital, i.e. those financial investments, without which the process of implementing a business idea is impossible. The entrepreneur identifies the need for the formation of two parts of the initial capital - fixed and circulating.
Fixed capital is financial resources intended for the acquisition (construction or lease) of production facilities with all the required communications, for the acquisition (purchase or lease) of machine tools, equipment, and other durable objects.
Working capital is the amount of money that will be used to purchase raw materials and everything that is necessary to organize the production cycle, as well as to pay employees, insurance premiums and other mandatory payments.
The entrepreneurial function and the principle of self-organization of an entrepreneur involve finding the opportunity to involve the initial capital in the required amount in the process of implementing the idea.
The implementation of any idea, with some exceptions, involves the formation (establishment) of a special productive structure, which involves the organization of internal life activities carried out in relative isolation from processes occurring outside of such a structure. Insulation in this case really wears relative nature, because the structure is just created to interact with the external environment for it, because the effectiveness of its functioning (profitability) is manifested only in the external environment. Moreover, any created structure develops under the strong influence of the external environment.
In any country, there are legislatively determined possible organizational and legal forms of created (or transformed) productive structures. Assignment to such structures of one or another organizational and legal form is carried out during its official registration, which implies their public recognition, i.e. society's permission for such a structure to function. At the same time, official registration means obtaining an official status for the structure being created, i.e. the rights and obligations that come with it.
Each organizational and legal form implies different scopes of rights and freedoms. An entrepreneur, at the stage of preparation for the implementation of a business idea, chooses the most appropriate organizational and legal form for the official registration of the created production structure. If there is a need to choose, then the entrepreneur must know the relevant sections of the Civil Code Russian Federation, where the possible forms are indicated in full.
Thus, an enterprise is understood as a productive structure with all its inherent attributes, officially registered and given a specific status.
Enterprise management means at least maintaining the productive structure, i.e. the enterprise itself, and as a maximum - concentration of efforts on the qualitative and / or quantitative increment of such an enterprise or even on bringing such an enterprise into the lead.
Entrepreneur's interest in effective management productive structure forces him to find a way professional management her. If an entrepreneur creates a structure, then in any case he manages it himself. However, he can, to one degree or another, delegate management authority to a professional manager. However, any delegation option involves the participation of the entrepreneur himself in the management process.
At the stage of understanding the implementation of a business idea, an entrepreneur decides in what form and who will carry out professional management.
Fundamentals of entrepreneurship, Pereverzev M.P., Luneva A.M., 2009. - 189 p.
Similar information.
A. N. Baidakov, D. S. Kenina
Formation of technology for the development and adoption of entrepreneurial decisions
© FGBOU VPO Stavropol State Agrarian University, 2014
* * *Introduction
The adoption of managerial decisions in business structures, as a rule, is carried out in conditions of risk and uncertainty, which act as an integral attribute of business activity and largely determine its economic performance. This circumstance imposes special requirements on the management of business systems.
The management of domestic business structures is often heuristic in nature and is largely based on the experience and intuition of the entrepreneur. This approach does not meet the requirements of consistency and is often associated not only with the loss of possible profits, but also with damnification. At the same time, without denying the existence of unique managerial problems, it should be borne in mind that many entrepreneurial situations have common features. This makes it possible to structure the processes of development and adoption of managerial decisions in entrepreneurship and to develop on this basis an appropriate business management technology.
The use of a technological approach in the management of business structures can significantly reduce the negative consequences of business decisions made under risk and uncertainty and increase their effectiveness in favorable conditions. economic conditions. Its important advantage is the focus on the regular use of the capabilities of modern information and analytical tools.
Therefore, the formation and widespread implementation of technology for the development and adoption of managerial decisions, adapted to the specific conditions of each business system, is one of the main directions in the development of risk management in entrepreneurship.
1. Theoretical and methodological foundations for the development and adoption of entrepreneurial decisions
1.1. Entrepreneurial decision as a specific type management activities
Entrepreneurship is a special area human activity occupying a certain niche in social structure. This circumstance determines not only the relevant specifics of the processes of development and adoption of entrepreneurial decisions, but also the very concept of "entrepreneurial decision".
According to Civil Code Entrepreneurship in the Russian Federation is an initiative, independent, carried out on its own behalf, at its own risk, under its own property responsibility, the activities of citizens, individuals and legal entities aimed at systematic obtaining income, profits from the use of property, the sale of goods, the performance of work, the provision of services, there is also regulatory support for entrepreneurship. Entrepreneurship also pursues the goal of improving the image, the status of an entrepreneur, the implementation of his ideas.
That is, the main attributes of entrepreneurship are on the face - “on your own behalf”, “own risk” and “systematic receipt of income, profits”, “entrepreneurial idea”, “property responsibility” and initiative. It is also necessary to emphasize the independence of the entrepreneur, which brings to the fore the personal factor, as well as the fact that a very wide range of people have the opportunity to become (and become) an entrepreneur, often without the necessary managerial skills and experience, not to mention special managerial preparation. It is these circumstances that determine the specifics of the development and adoption of entrepreneurial decisions mentioned above.
Entrepreneurship is becoming an increasingly global and diverse phenomenon, the forms and types of business are changing, the processes occurring both within firms and in their external environment are becoming more complicated, but the main attributes of entrepreneurship remain unchanged: independence, risk, uncertainty and daily decision-making, the main result of which should be - minimizing costs and obtaining the maximum possible profit.
The first academic economist who developed one of the first concepts of entrepreneurship is Richard Catillon (1680–1734), who defined an entrepreneur as a person who operates under conditions of risk. It can be argued that Catillon is the ancestor of the thesis about the entrepreneur as an economic entity that assumes the obligation to bear various risks due to the uncertainty of the outcome. economic activity. R. Catillon distinguished the function of representing capital from the entrepreneurial function. According to this definition, entrepreneurship is a purposeful activity that is impossible without the implementation of certain managerial actions.
A. Smith (1723 - 1790) made a significant contribution to the development of the theory of entrepreneurship. According to Smith, an entrepreneur is an owner of capital who, in order to realize some kind of commercial idea and make a profit, takes economic risks. According to the scientist, the entrepreneur for the most part is a capitalist. A. Smith considered private property to be the material basis of entrepreneurship, but he did not have unlimited confidence in the initiative of private individuals. In his opinion, even when meeting for the sake of a pleasant pastime, the conversation of entrepreneurs in the same industry often comes down to conspiring against buyers or making some kind of agreement to raise prices. According to Smith, for a private enterprise to be useful to society, two important conditions must be met:
1) the entrepreneur must have a personal benefit from the enterprise;
2) competition must keep it under certain conditions.
J.B. Say gives an original interpretation of the essence of an entrepreneur: this is an economic agent that combines factors of production, “drags” resources from the sphere of low productivity and profitability to the area in which they can give the greatest result (profit, income). Here, too, we clearly see the role and specifics of managerial activity in entrepreneurship.
Engaging in entrepreneurial activity forms and develops the ability of its subject to make decisions independently, with the development of entrepreneurship, with the advent of its new forms, with the development of competition, decision-making technologies are also being improved, only the desire of entrepreneurs to make a profit remains unchanged.
In our opinion, with the development of human society, the problems that entrepreneurs face and the ways to solve them become more and more complicated, and this leads to the need to develop and revise a number of provisions for the development and decision-making in entrepreneurship. On the one hand, the problems are becoming more diverse and complex, and on the other hand, with the globalization of entrepreneurial activity and the development of modern information and analytical tools, their solution becomes more and more technological.
The nature of a managerial decision in entrepreneurship is determined by the following factors:
– the inevitable presence of risk and uncertainty as situational characteristics;
- personal characteristics of the entrepreneur (manager);
– professional skills of an entrepreneur;
- the level of independence of the entrepreneur's actions;
- latent strategic entrepreneurial management;
- the level of socio-economic development of society;
- the level of entrepreneurship development in the region and the country;
– specific features business;
– globalization processes;
- the level of development and use of information and analytical technologies.
Entrepreneurship is primarily associated with risk and uncertainty - they are one of its indispensable attributes. Moreover, we consider these categories, first of all, from the point of view of the characteristics of the problem situation.
An entrepreneur consciously takes risks, although, often, without properly analyzing its consequences, even if this is possible in principle. No one guarantees an entrepreneur that his product or service will be in demand and bought, that the proceeds received will cover the costs incurred and, as a result, he will make a profit.
The nature of risks is multifaceted. They can be strategic, financial, operational, legal, reputational, etc. . One of the main tasks of the entrepreneur is to identify the risk in a timely and adequate manner. In turn, one of the main functions of entrepreneurship is the creative function. The desire to maximize profit or other result, recognized by the entrepreneur as the goal of his activity, does not allow him to be content with the current situation. He is constantly looking for ways to improve his business. Humanity owes the emergence of many original scientific, technical, economic and organizational solutions to the creative function of entrepreneurship.
Efficient work presupposes not only the availability of capital for the entrepreneur, but also the rational disposal of money, material and labor resources for the purpose of making a profit. An entrepreneur needs to clearly navigate the prevailing market conditions and make the right decisions. The decision-making process includes the following stages: conception of an idea; assessment of the reality of the idea; carrying out calculations; expert review settlements; final decision making.
The birth of an idea is not an easy process, and although at this stage only general terms and Conditions investment Money, the entrepreneur must have sufficient knowledge of the market to determine the possible directions of his activity. First of all, he examines the relationship between the demand and supply of goods. Moreover, the entrepreneur is not interested in the hypothetical desire of the consumer to purchase this or that product, but in his readiness to purchase and the possibility of such a purchase.
Real demand depends on the real purchasing power and price of the product. The relationship between supply and demand is easier to determine for goods that are traditionally supplied to the market, such as bread. The entrepreneur must assess the demand not only for the current moment, but also for the future.
It is much more difficult to determine the real demand for a product that has not yet been delivered to the market. Demand in this case can significantly outstrip supply. In this situation, it is necessary to predict the period during which the market will be saturated, the product will become morally obsolete and will no longer meet the requirements of buyers. This is necessary in order to rebuild production in time, improve technology or switch to the production of a new product.
The hardest thing to predict is the demand for consumer goods, since the market for these products often has factors that are difficult to predict: fashion, consumer taste, etc.
Demand can be predicted in various ways. It can be assumed that the trend in demand will be influenced by individual factors, such as changes in the purchasing power of the population. In any case, it is better to make several forecast options and develop various programs of practical actions. This will give you the opportunity to choose and maneuver.
It is necessary to take into account the existing supply of goods by other manufacturers. This can be done by studying reference and advertising publications, statistical reports, in the process of personal contacts with entrepreneurs.
Having found out the prospects of the idea and the possible profitability of production, it is necessary to determine the reality of its implementation, based on the available opportunities.
First of all, you should evaluate the market conditions. It is known that entrepreneurial activity in certain areas of production is characterized by cyclicity. In this regard, it is important to choose not only the scope of entrepreneurial activity, but also the time of its start.
The situation on the market can change significantly not only in time but also in space. This is most typical for agriculture, where sharp fluctuations in crop yields are possible in different regions.
The entrepreneur must also establish how monopolized the industry in which he has decided to invest. It is known that it is more difficult to find one's niche in a monopolized industry and avoid going bankrupt than in a competitive one. At the same time, it is equally difficult to do business in an industry with very high and fierce competition. This applies, for example, to floriculture: there is a great demand for flowers and their numerous offers.
Thus, it is better for an entrepreneur to start in industries where you can always find a niche with little risk. Such sectors in agriculture include the production of grain, dairy and meat cattle breeding. The priority of the industry should be established taking into account natural and climatic (annual precipitation, soil fertility, etc.) and economic (availability of roads, distance to the nearest railway station, the possibility of attracting employees etc.) conditions.
Having determined the priority industry, the entrepreneur must establish how the production of the product that he decided to supply to the market corresponds to his capabilities: the availability of production resources, technical means, work force, financial resources. He must take into account the possibilities and conditions for the acquisition of raw materials, equipment, other basic and working capital, obtaining bank loans, establishing sales relations finished products, tax policy of the state. To this end, all necessary calculations must be performed.
The entrepreneur must accurately predict the price of his product. Considering that there is a risk of error in the forecast, the calculations should be based not on the average price on the market for several years and not on the price that prevailed at the time of the assessment, but on the lowest possible price for this market. In this case, there will be a guarantee that under any conditions the entrepreneur will make a profit. Another factor that affects the amount of profit should be taken into account - the entrepreneur's own expenses. It is advisable to make multivariate calculations of these costs and include the most acceptable option in the business plan.
At the next stage, an expert assessment of the performed calculations should be carried out with the determination economic efficiency project, that is, a feasibility study (FS), which gives an idea of the most important indicators influencing business decision making. These include: gross profit, net profit (net of taxes), level of profitability, payback period of investments, etc. The feasibility study allows you to find best option entrepreneurial activity: in what form it is better to carry it out (independently or jointly with a partner), on what conditions to build relationships with suppliers of raw materials, other resources, etc.
A feasibility study (feasibility study) is the basis for developing a business plan and enables an entrepreneur to reasonably convince partners, investors that his project will make it possible to invest effectively and provide sufficient profit.
Once a problem or opportunity catches the entrepreneur's attention, it becomes necessary to sort out the details of the situation. Diagnosis and analysis of the situation is a stage of the decision-making process, in which the entrepreneur studies in depth the causes of the problem.
Once a problem or opportunity is recognized and analyzed, the entrepreneur begins to consider options for future action. The next step in the process is to develop options for solutions that will meet the needs of the situation and address the deficiencies identified.
After developing several feasible solutions, you need to choose from them. the best option. It will be the one that provides the solution that best suits the goals and values of the organization and achieves desired results at minimal cost resources.
The stage of implementation of the chosen solution involves the use of managerial and administrative abilities and skills of persuasion for the practical implementation of the chosen solution.
During the evaluation phase, the entrepreneur gathers information that tells them how successful the solution was and whether it achieved the goals they set. Feedback It has great importance because decision making is a never ending process.
