MAKING BUSINESS DECISIONS IN INDUSTRIAL COMPANIES IN THE TRANSITION COUNTRY, BY THE CASE OF THE REPUBLIC OF SERBIA

Abstract

Business decision-making as part of management and decision-making in industrial enterprises depends on the interaction of multiple internal and external factors. Business decision-making is part of the business decisions that top management makes every day with the goal of good company management. This is of great importance for the practical functioning of enterprises in transition countries. Their economies are heavily influenced by developed economies that impose their own rules of conduct that often do not suit countries in transition. Therefore, the importance of studying business decision-making is increasing. This is important for the operation and functioning of an industrial enterprise, because the strength of an economy is directly dependent on the strength of industrial economies. Applying valid business decisions can have a major impact on making the right business decisions of the top management of an industrial enterprise. On this basis, it is clear to see the true importance of the link between making valid, timely business decisions of top management of an industrial enterprise and the achieved business results as a result of the conducted business activities of an industrial enterprise in a certain real time period of observation. This is the primary goal and contribution that the authors of this paper make in this study. It is possible to apply in many transition countries.

Keywords

• business
• decision
• industry
• enterprise
• management
• audit