Introduction to the Special Issue

Roman Šperka, Jarmila Šebestová, Włodzimierz Sroka

Abstract


Everyday business life is closely connected with decision making processes. When business environment is influenced by changes nowadays, many researchers and practitioners tend to find out factors, which have an impact on effective decision-making. Business research conducts a comparison of classical and alternative behavioural models and evaluates the validity of the models that have been developed to support the discovery of these factors.

 

This special issue is dedicated to multidisciplinary methods use topic of decision-making in Small and MEdium Sized enterprises (SMEs) area. Special issue challenges these research questions: What is the difference in decision-making led by marketing-oriented goals? Can decision-making models be empirically distinguished in terms of their qualitative or quantitative predictions? What are the insights in prospects of decision-making across marketing, management, business economics, statistical, mathematical, and IT modelling approaches? How they could support flexibility, rationality, and competitive advantage of SMEs? Clear answers to these questions may outline the current state of knowledge and the paths of progress in decision-making field of business.

 

We have collected articles that address some of these and other important questions. The selection, structure and content of this special issue is based on the international scientific conference DEcision Making for Small and Medium-Sized Enterprises (DEMSME), organized in Ostrava, Czechia, in May 2017, where professionals from universities and businesses interested in the theory and applications of decision-making research using informatics, mathematics, business economics and management, and marketing approaches in the practice of SMEs were involved.

The articles in this special issue are those that passed the rigorous peer-review process and whose authors fulfil the requirements for revisions and expanded their original submissions. We would like to thank the Journal editorial board and anonymous reviewers for their suggestions and constructive criticisms.

 

Although each of the following seven articles stands on its own merits, we have made thematic structure and logical flow in their ordering, motivated by two mainstreams in this issue – decision-making and the area of application.

 

Marketing point of view is presented by Pilelienė and Grigaliūnaitė’s article, which provides an overview of neuromarketing, especially the factors influencing advertising effectiveness such as colour temperature and their impact on consumers’ visual attention, implicit preferences, and purchase intentions – basics for marketing decision-making. The second article in marketing area, written by Klepek, emphasizes the importance of social media use in the Czech Republic. This article gives relevant reading material for managers and executives looking for influential and impactful insights within the area of marketing in relationship to social media.

 

Management and business economics view cover another two articles. Rylková, Stelmach and Vlček’s article proposes alterative use of Counterfactual Impact Evaluation analysis in the internal business processes of a company. An example of equations for decision-making is added to attract the readers. This topic is extended by Pakšiová’s article connected with company profit allocation decision-making. The author suggested a tax optimization-based decision.

 

Last part consists of three papers and covers statistical, mathematical and IT methods for decision-making in SMEs. Multidisciplinary approach is presented by Sudzina’s article, where author focused on loyalty as marketing issue, but decision-making is strongly based on statistical evaluation and modelling in presented case study, using least significant difference (LSD) test. Mielcová’s article deals with external business environment evaluation and showed us, how to predict labour market behaviour in dependence on GDP and other variables. Last but not least, the article written by Ramík, uses AHP mathematical models in decision-making process. This article exploits authors experience with modelling discipline in practice. Several instructions for IT application are included.

 

 

We hope that business and research community will find this special issue as a useful collection of articles, which could be used to improve decision-making processes in practice.


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