Modelling Decision Making under Uncertainty for Strategic Forecasting
Oleksiy Korepanov1, Sergey Mekhovich2, Nataliya Karpenko3, Olha Kryvytska4, Andrii Kovalskyi5, Roman Karpenko6
1Oleksiy Korepanov, Department of Management and Administration, Educational and Research Institute “Karazin Business School”, Kharkov, Ukraine.
2Sergey Mekhovich, Department of Economic Analysis and Accounting, National Technical University “Kharkiv Polytehnic Institute”, Kharkiv, Ukraine.
3Nataliya Karpenko, Marketing Chair, Poltava University of Economics and Trade, Poltava, Ukraine.
4Olha Kryvytska, Department of Finance, Accounting and Auditing, National University of Ostroh Academy, Ostroh, Ukraine.
5Andrii Kovalskyi, Accounting and taxation department, Odessa National economic university, Odessa, Ukraine.
6Roman Karpenko, Department of Civil Law Disciplines, Dnipropetrovsk State University of Internal Affairs, Dnipro, Ukraine.
Manuscript received on 13 August 2019. | Revised Manuscript received on 18 August 2019. | Manuscript published on 30 September 2019. | PP: 7251-7255 | Volume-8 Issue-3 September 2019 | Retrieval Number: C6312098319/2019©BEIESP | DOI: 10.35940/ijrte.C6312.098319
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In current market conditions, the key to productive economic activity is the ability to provide a high-quality forecast, even in situations of insufficient information. Strategic forecasting refers to this type of activity, errors in which the actions of any company can have a detrimental effect on the fundamental level. The justification and selection of specific management decisions can often be carried out in conditions of uncertainty due to the inability to clearly predict the values of the final results of these decisions. The decision-making system within the framework of the strategic forecasting task should help maintain the effectiveness of actions by simplifying the picture of the real world by modelling it. While allowing to reduce the influence of the subjectivity of the personality of the decision-maker on the decision-making process itself.
Keywords: Decision making, Forecast, Modeling, Uncertainty, Strategy.
Scope of the Article: Numerical Modelling of Structures