Exact methods in managerial decision

Abstract

Decision making is one of the fundamental management activities that by its quality significantly affect the results and efficiency of economic units. Managers at various management levels should therefore put into their daily practice a set of exact methods which are important to ensure the required quality of decision-making solutions of problems. Using the exact methods in managerial decision-making will gradually supplement and replace intuitive methods of decision-objective methods that allow more variants of problem solving and have a mechanism that ensures the optimal selection of a variant on the basis of established criteria or a set of criteria.