INSTRUMENTALIZATION OF KNOWLEDGE MANAGEMENT IN THE SELECTION OF OPTIMAL ALTERNATIVES IN TERMS OF MONETARY CONSEQUENCES Cover Image

INSTRUMENTALIZACIJA UPRAVLJAČKOG ZNANJA U IZBORU OPTIMALNIH ALTERNATIVA SA ASPEKTA MONETARNIH POSLJEDICA
INSTRUMENTALIZATION OF KNOWLEDGE MANAGEMENT IN THE SELECTION OF OPTIMAL ALTERNATIVES IN TERMS OF MONETARY CONSEQUENCES

Author(s): Đuro Mikić, Mirjana Landika
Subject(s): Economy
Published by: Ekonomski fakultet u Sarajevu
Keywords: decision tree; strategies; alternatives; the likelihood of profit; variability; the optimal choice; quality

Summary/Abstract: Identify course of action that appears as a change in output in the system of decision making,presents a skill of the most optimal choice of options as possible and the expected value in accordance with a set of selected rules. In making plans for the identification of actions and consequences of monetary consideration of risks and possible alternative courses, a very important role with the decision has got the Tree whose branches symbolize the list of alternative conditions and possible outcomes. It is also used as the exclusive support of a sequential decision making in situations where it is a reading and determine the best option at each node, where the focus is graphical representation of the chronological FUNCTIONING. Therefore, the modeling of decision problems is based on the technique of decision-making tree that is actually a graphic illustration of a posteriori analysis. Empirical revision of theoretical probability becomes a virtual tool for application to problems of sequential decision-making criteria and rules to stop delaying. In the analysis of management decisions fundamental problem relates to unknown future events, as a measure of uncertainty to the result of variation, so that the effort in the decision making process aims to describe how to assign the probability of their occurrence. This problem can certainly be extended by introducing a sequential decision making where it is figuratively delay decisions until they receive sufficient additional information. For their importance in particular is a growing need to increase the rate of change and degree of uncertainity. In order to reach a rational decision, especially prominent graphic design is the help of The decision-making tree to be recorded by the priori probabilities, relaxed by research, and associated by corresponding values of outcomes. Demonstration of these techniques indicates the advantage and ease of performing a formal analysis of decision problems in relation to the intuitive decision-making because the decisions we make are chronological sequences derived from both hereditary and anticipated sources of knowledge.

  • Issue Year: 2014
  • Issue No: 33
  • Page Range: 163-179
  • Page Count: 17
  • Language: Bosnian