DECISION MAKING IN THE ECONOMY: APPROACHES AND ANALYTICAL TOOLS

Анотація

The article examines the theoretical and applied aspects of decision-making in the economy in a dynamic, unstable and uncertain environment, which is especially exacerbated under the influence of martial law. The relevance of the study is due to the need to increase the effectiveness of management decisions in conditions of increased risks, information turbulence, limited resources and rapid changes in the external environment. The paper summarizes the essence of the decision-making process, identifies its main stages and characterizes key approaches, including rational, behavioral, intuitive, quantitative and situational. It is proven that the effectiveness of economic decisions depends on the ability to combine different approaches taking into account the specific conditions of the functioning of business entities. Particular attention is paid to the analysis of factors affecting decision-making in martial law, in particular political and economic instability, security risks, logistical constraints, financial instability and social transformations. It is substantiated that such factors significantly complicate the process of making managerial decisions and require the use of adaptive and flexible approaches to management. The article also systematizes modern analytical tools, in particular financial analysis, economic and mathematical modeling, forecasting, SWOT and PEST analysis, which ensure increased validity of managerial decisions and contribute to minimizing risks. The role of digital technologies and artificial intelligence in the decision-making process is separately considered, which open up new opportunities for processing large volumes of data, forecasting economic processes and supporting managerial actions. At the same time, potential risks of their application associated with data quality and dependence on technologies are identified. The study proves that increasing the efficiency of economic decisions is possible with the integrated use of various approaches and analytical tools, which ensures the adaptability and stability of economic systems in modern conditions.

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