In modern business conditions, more and more attention is paid to the introduction of forensic accounting into the regular operations of the company and its development, in order to achieve more ...efficient and effective controls of all organizational parts in the company. In this context, it is necessary for the top management to be innovatively disposed to apply new solutions that will facilitate the company's operations and through the application of which it will achieve better business results. Forensic accounting is effective not only for detecting and preventing fraud in financial statements and accounting, but also for assessing the damage to the company on that basis. The introduction of forensic accounting is a complex and not at all cheap process that practically begins with the decision of the top management to change the previous accounting policies to a new one, in which there will be an implemented system of forensic accounting. The paper analyzes the connection between forensic accounting and top management, as well as the importance of this special accounting for business decision-making. The aim of the work is to show the usefulness of applying forensic accounting activities, as part of making valid decisions of top management, in the process of regular business operations of the company, which is reflected in raising the level of security of financial reporting and the overall security of the company's operations.
Risk, uncertainty, and heuristics Mousavi, Shabnam; Gigerenzer, Gerd
Journal of business research,
08/2014, Volume:
67, Issue:
8
Journal Article
Peer reviewed
Open access
Nearly a century ago, Frank Knight famously distinguished between risk and uncertainty with respect to the nature of decisions made in a business enterprise. He associated generating economic profit ...with making entrepreneurial decisions in the face of fundamental uncertainties. This uncertainty is complex because it cannot be reliably hedged unless it is reducible to risk. In making sense of uncertainty, the mathematics of probability that is used for risk calculations may lose relevance. Fast-and-frugal heuristics, on the other hand, provide robust strategies that can perform well under uncertainty. The present paper describes the structure and nature of such heuristics and provides conditions under which each class of heuristics performs successfully. Dealing with uncertainty requires knowledge but not necessarily an exhaustive use of information. In many business situations, effective heuristic decision-making deliberately ignores information and hence uses fewer resources. In an uncertain world, less often proves to be more.
Consultants and pundits assert that the business-to-business (B2B) buying process has changed markedly in recent years due to the emergence of online, digital applications and software. Recognizing ...that impactful, and truly innovative future research is perhaps best created when built on the foundation of past science, we review the arc of B2B buying process modeling from 1956 to the present. Our goals with this research are to: 1. capture the genealogy and evolution of thinking across the years in terms of foundation theories, reasoning approach, types of models, factors researched, and journals in which articles were published, 2. identify the thematic inflection points in the research stream that have led to the current conceptualizations, and 3. suggest a research agenda for the future. We discovered that academic understanding of the B2B buying process has progressed in waves featuring seven themes – transactions, situations, influences, responses, relationships, networks and journeys. Looking to the future, we recommend that scholars examine five areas of research: the impact of technology, modes of customer and supplier interaction, decision-making approaches, tensions between internal and external communities, and B2B marketing analytics.
•There are seven thematic inflection points in the B2B buying process research stream.•The research waves have moved from transactions, situations, influences, responses, relationships, networks and journeys.•Scholars in the future should examine key issues of the impact of technology on the B2B buying process.
This special issue addresses sustainable consumption and production (SCP) in business decision-making model by examining novel methods, practices, and opportunities. The articles present and analyze ...top-down sustainability efforts as well as bottom-up efforts on the models, customer perceptions, business decision-making models and proposed solution methods This editorial note summarizes the discussions on the business decision-making operational attributes, sustainable consumption and production practices, and on evaluation and practical methods A dominant finding is that the issues of SCP in business decision-making model should be explored in different business contexts.
•Extract significant data from social media network for business developments?•How can social media data analytics be implemented?•BDMS for developing business using social media data analytics?
For ...the past few years, business intelligence has been a major field that uses data analysis to produce key information as part of business decision-making. Data collected from social media sites and blogs are analyzed to make business decisions, a process called social media analytics (SMA). This method, which goes beyond ordinary monitoring or a basic analysis of retweets, develops an in-depth insight into the social consumer. After reading the whole report, add the pertinent figures to the table. Add pertinent data from the Brand24 report to the table. During a social media audit, any followers, impressions, engagement, copy/traffic, and brand mentions are key parameters to analyze. For companies and research institutions, the great interest is to analyse and gain knowledge from user-produced data. These data contain useful knowledge, including customer perceptions feedback and product/service suggestions. Due to content saturation, social media's true meaning regarding business data is hardly ever found. Therefore, in this paper, the business decision making system (BDMS) has been proposed to develop business using social media data analytics. BDMS provides a clear understanding of the key principles, issues and functionality, and big social data developments. Besides, BDMS concentrates on marketing and describes an operational approach for obtaining valuable information from social data. BDMS performs a short and precise description of current use scenarios from the evidence, as per the help of decisions and investment opportunities companies get when using social data analytics. The experimental result shows that BDMS achieves the highest competitive results. With greater accuracy, system dependability, F-1 measurement, and deviation rate of 85.5%, the BDMS system guarantees 93.7%, 86.8%, and 7.0%.
Human resource management (HRM) is a crucial aspect of the global economy, and there is a wealth of literature available on various aspects of managing human resources. There is a need to take these ...concepts and turn them into practical applications, and organizations and academic institutions have a vital role to play. By providing training and digital tools to enhance innovation and decision making, these entities can prepare the next generation of human resources and business leaders for the challenges they may face. This is especially relevant in light of the economic impact of pandemics and other unpredictable global events, which can have long-lasting effects on the economy. To address these challenges, a study was conducted to explore the potential use of business game simulators (BGS) as a solution. The results of the study are promising, showing that BGS can enhance pandemic preparedness, increase competitiveness, and provide a more comprehensive organizational viewpoint. To explore this hypothesis, the study used specific constructs, which were subjected to empirical processing and analysis. The results indicate that simulating past pandemics through BGS can help HRM and businesses be better prepared for future crises, and the BGS learning approach can offer a more realistic, global perspective for organizations.
•A quantitative research study was put in place where the use of BGS (Business Games Simulators) hypothesis is supported, indicating that simulating previous business scenarios could provide the ability to cope with HRM;•BGS could encourage businesses to become more competitive;•the BGS learning approach could provide a global and more realistic organization perspective with digital tools and digital training; and•Simulating through BGS can help HRM and businesses to be better prepared for future crises.
There has been an increasing interest in the use of decision-making models to achieve sustainability goal in recent decades. However, a systematic review of performance metrics, which are an ...important element of decision-making models to evaluate the outcomes regarding firm’s economic, environmental and social performance, is lacking. This study provides critical reflections on the current state of literature and industry development regarding sustainable performance metrics and offers concrete suggestions to guide future research. This study contributes to existing studies by (1) exploring the interrelationship between sustainable triple-bottom performance in the decision making process; (2) integrating corporate governance mechanism into decision making process for sustainable consideration; and (3) conducting a comparison between academic theory and industry practice regarding the performance metrics proposed and employed.
The selection of suitable individuals for critical roles within the organization can significantly affect the business efficiency and performance of the organization. For this reason, this article ...presents a multiple-criteria decision-making procedure for candidates' assessment in the Information Technologies industry (IT) using the integrated PIPRECIA-S and WS-PLP methods. The introduced approach involved defining the criteria' significance with the help of the PIPRECIA-S, while the WS-PLP method was used to evaluate candidates and harmonize the views of decision-makers attitudes. The applicability of the suggested technique was reviewed in the situation of selecting an IT Project Manager in an IT company. However, it can easily be adapted for similar cases of candidate selection.
This paper introduces PatentSight, a patent information analysis solution provided by LexisNexis Intellectual Property Solutions, including its development concept, unique value indicators, several ...functions, and analysis examples. Patent information plays an important role when examining a company’s management strategy from a technological aspect. This paper will introduce how the information obtained from patent analysis can be used for strategic decision making, using the objective indicators of PatentSight developed through academic research. This paper also presents the results of the analysis and the findings contributed by one of PatentSight users.
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