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Strategic decision-making of business management focused on crisis management

Author

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  • Emil Svoboda

    () (Mendel University in Brno)

Abstract

There are presented in the contribution results formulated in researches MSM 6215648904 (Brno, 2010) focused in analysis of managerial, financial and economic risks and methods of their solving in strategical decision making of business management in a new entrepreneurial environment with influences caused by integration processes, development of information technology and factors of globalization. The results of the research indicate that companies with an up-to-date management need a well defined strategic management system and elaborate change management within this system, which contributes to the creation of balance between the internal environment of the management and external environment, i.e. creation of so called homeostasis. The above mentioned conception requires perfect information backing and up-to-date technical facilities for management, especially a computer network equipped with up-to-date software. Rapid changes, principally in the external environment, require of the business management to select new approaches and methods of decision-making and to have a well conceived algorithm enabling a flexible response to customers’ wishes. The paper is based on the methodology formulated by the author - methodology of creation, implementation and changes of business strategies and requirements for their improvement due to the incidence of a turbulent management environment and other essential factors. The main factors of crisis and methods of their analysis are formulated. Thereinafter, strategies of solving of crisis situations are formulated. The company Bioveta, Inc. is analysed in detail. The research has proved that companies with modern management need a well-made and working system of crisis management due to their complexity and risks.

Suggested Citation

  • Emil Svoboda, 2010. "Strategic decision-making of business management focused on crisis management," Acta Universitatis Bohemiae Meridionales, University of South Bohemia in Ceske Budejovice, vol. 13(4), pages 69-74.
  • Handle: RePEc:boh:actaub:v:13:y:2010:i:4:p:69-74
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