Classification of Management Decision-Making Methods in Economics

Abstract

The article presents the main methods of economics decision-making. The emphasis in work is made on the classification of such methods to describe the specifics of each group of methods using for different primary conditions of decision-making. The basis of the proposed approach to the classification of methods is, firstly, the relationship with the target indicator of the work of an economic entity in a market economy (profit, net cash flows), and secondly, the applicability of the method for modelling a generalized criterion for the clear choice of the optimal management alternative (depending on the urgency of the decision and the degree of certainty of the initial information). For each group of methods, the economic content is shown, and the basic situations in which the methods could be applied are given. The classification of methods reflects the algorithm for enumerating them to select the most suitable one under certain conditions, reflected in this classification. Model calculations illustrate