About: Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing

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rdf:type	skos:Concept http://linked.opendata.cz/ontology/domain/vavai/Vysledek
Description	The paper is concerned with measuring and assessment of risks in managerial decision-making. It builds upon economic information entropy as a degree of uncertainty, which is converted into the concept of risk expressed in terms of probability and using confidence intervals of the predicted quantities. The paper explains the relation of a degree of risk expressed by the classical information measure, bit, by the concept of confidence intervals, or possibly by the standard deviation. When making decisions, the manager is interested not only in the quantitatively expressed value of risk with the use of forecasting models, but mainly in the impact of decrease/increase of decision-making risk expressed by the effect, i.e. profit/loss caused by such a decision to achieve targets. A method of decision effect calculation is proposed which is derived from the entropy change and the change in risk in managerial decision-making. Forecasting models are applied which are based on an expert estimate and a statistical theory, and the degree of risk is assessed in forecasting models based on neural networks, and their risks are assessed. The paper is concerned with measuring and assessment of risks in managerial decision-making. It builds upon economic information entropy as a degree of uncertainty, which is converted into the concept of risk expressed in terms of probability and using confidence intervals of the predicted quantities. The paper explains the relation of a degree of risk expressed by the classical information measure, bit, by the concept of confidence intervals, or possibly by the standard deviation. When making decisions, the manager is interested not only in the quantitatively expressed value of risk with the use of forecasting models, but mainly in the impact of decrease/increase of decision-making risk expressed by the effect, i.e. profit/loss caused by such a decision to achieve targets. A method of decision effect calculation is proposed which is derived from the entropy change and the change in risk in managerial decision-making. Forecasting models are applied which are based on an expert estimate and a statistical theory, and the degree of risk is assessed in forecasting models based on neural networks, and their risks are assessed. (en)
Title	Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing (en)
skos:prefLabel	Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing (en)
skos:notation	RIV/47813059:19240/11:#0004443!RIV13-MSM-19240___
http://linked.open...avai/predkladatel	Filozoficko-přírodovědecká fakulta
http://linked.open...avai/riv/aktivita	P
http://linked.open...avai/riv/aktivity	P(ED1.1.00/02.0070)
http://linked.open...iv/cisloPeriodika	4
http://linked.open...vai/riv/dodaniDat	2013
http://linked.open...aciTvurceVysledku	Marček, Dušan Marček, Milan
http://linked.open.../riv/druhVysledku	J - Článek v odborném periodiku
http://linked.open...iv/duvernostUdaju	S - Úplné a pravdivé údaje nepodléhající ochraně podle zvláštních právních předpisů
http://linked.open...titaPredkladatele	Slezská univerzita v Opavě / Filozoficko-přírodovědecká fakulta
http://linked.open...dnocenehoVysledku	210411
http://linked.open...ai/riv/idVysledku	RIV/47813059:19240/11:#0004443
http://linked.open...riv/jazykVysledku	eng - angličtina
http://linked.open.../riv/klicovaSlova	confidence interval; entropy; prediction models; neural networks; managerial decision; risk assessment (en)
http://linked.open.../riv/klicoveSlovo	entropy managerial decision prediction models confidence interval neural networks risk assessment
http://linked.open...odStatuVydavatele	SK - Slovenská republika
http://linked.open...ontrolniKodProRIV	[92E786C21933]
http://linked.open...i/riv/nazevZdroje	Journal of Economics
http://linked.open...in/vavai/riv/obor	AH
http://linked.open...ichTvurcuVysledku	2 (xsd:int)
http://linked.open...cetTvurcuVysledku	3 (xsd:int)
http://linked.open...vavai/riv/projekt	IT4Innovations Centre of Excellence
http://linked.open...UplatneniVysledku	2011
http://linked.open...v/svazekPeriodika	59
http://linked.open...iv/tvurceVysledku	Marček, Dušan Marček, Milan
http://linked.open...ain/vavai/riv/wos	000291707100004
issn	0013-3035
number of pages	17 (xsd:int)
http://localhost/t...ganizacniJednotka	19240
is http://linked.open...avai/riv/vysledek of	Managerial Decision-making: Measuring and Manifesrtaion of Risks and the Possibilities of their Reducing

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