CONTENT

INTRODUCTION
1. THEORETICAL ASPECTS OF MANAGERIAL DECISION-MAKING
1.1 The essence, types, and structure of a managerial decision-making
1.2 Role of Marketing in Decision-Making
2. COMPREHENSIVE ANALYSIS OF DECISION-MAKING PROCESS
2.1 General characteristic of the company
2.2 Technical and economic analysis of the company
3. DEVELOPMENT OF A PLAN TO IMPLEMENT THE COMPANY'S NEW
MARKETING SUPPORT
3.1 Plan of improving decision-making process with integrating Marketing Support
3.2 A summary of how well the actions that were put into practice worked.
CONCLUSIONS
LIST OF REFERENCES
APPENDICES
 INTRODUCTION
In the realm of modern business dynamics, the art of decision-making
stands as a cornerstone of organizational success. The ability of managerial
teams to navigate complex challenges, seize opportunities, and steer the course
of their enterprises towards prosperity hinges on the quality of their decisions.
Recognizing this pivotal role embarks on a journey to explore how the strategic
integration of marketing tools can enhance and optimize the decision-making
processes within organizations.

The relevance of improving managerial decision-making using marketing

tools lies in its potential to drive organizational success, foster innovation, and
ensure sustainable growth in today's dynamic and competitive business
environment.

The purpose of the thesis is improvement of the decision-making process

by using marketing tools.

The achieve thesis’s goal, the tasks were achieved:

 to study theoretical issues of decision-making process;

 to identify role of the marketing tools in the decision-making
process;
 to perform comprehensive analysis of the enterprise’s activity;
 to analyze current decision-making process at the enterprise;
 to propose ways to improve decision-making process at the
enterprise;
 to develop plan of implementation the proposed measures.
The object of the study is the process of decision-making at an enterprise.
The subject of the study is the marketing tools to support and optimize
managerial decision-making.
 The problem of managerial decision-making was considered in papers of
a lot of domestic and foreign scholars, such as Herbert Simon, Daniel
Kahneman and Amos Tversky, Oleksandr Talavera, Nataliia Levchuk and Iryna
Zolotaryova.

Recognizing the pivotal role of decision-making, this study embarks on a

journey to explore how the strategic integration of marketing tools can enhance
and optimize the decision-making processes within organizations.

In the thesis the following methods are used: analysis and synthesis,
logical generalization, morphological analysis, statistical analysis, graphical
method, SWOT analysis, PERT chart, project analysis.

By identifying the role of marketing tools in supporting and optimizing

managerial decisions, the study aims to provide actionable insights for
improving decision-making within enterprises. Through a comprehensive
analysis of current decision-making practices, the research seeks to propose
practical ways to enhance decision-making processes and develop
implementation plans for the proposed measures.

With a focus on the process of decision-making at enterprises and the

utilization of marketing tools to support this process, this study aims to shed
light on the transformative potential of integrating marketing tools into
decision-making practices. By exploring international experiences, defining a
robust methodology, and analyzing labor safety, this research endeavors to offer
practical recommendations for organizations seeking to elevate their decision-
making capabilities in today's rapidly evolving business landscape.

The thesis consists of introduction, three chapters, conclusions, list of

references and appendixes.
 1. THEORETICAL ASPECTS OF MANAGERIAL
DECISION-MAKING

1.1. The essence, types, and structure of a managerial decision-making

The essential principles that mould and direct the decision-making
procedures inside an organisational setting are explored in the theoretical facets
of management decision-making. This domain's primary goal is to identify the
behavioural, psychological, and cognitive factors that affect managers'
perceptions, analyses, and final decision-making processes. It examines the
theoretical frameworks that shed light on the complexity of decision-making,
recognising that it is a complex interaction between intuition, constrained
rationality, and reason rather than a purely mechanical process.

The essence lies in understanding how decision-makers process

information, navigate uncertainties, and reconcile competing interests within the
organizational ecosystem. It recognizes that decisions are not isolated events but
are intricately connected to the organizational culture, structure, and the broader
socio-economic environment.

It is vital to clarify the fundamentals of managerial decision-making

before delving into the aspects of managerial decision-making. Thus, this
concept's morphological examination is carried out in the tab. 1. 1

Table 1.1

Morphological analysis of the concept “managerial decision-making”

Author Definition Key words
Simon H. Managerial decision-making is the process Process, Managers,
through which managers identify problems and Problems,
opportunities, gather relevant information, and Opportunities
evaluate and select appropriate courses of action.
March J.G Managerial decision-making involves a Rational, Incremental,
combination of rational and incremental Satisficing,
processes, with managers often making decisions Optimizing
based on satisficing rather than optimizing.

Mintzberg H. Decision-making in a management is part of a Planning, Organizing,

broader set of managerial activities, including Controlling, Internal
planning, organizing, and controlling, and is Factors
influenced by both internal and external factors.

Tversky A., Managerial decision-making is subject to Biases, Heuristics,

Kahneman D. cognitive biases and heuristics, which can Decision Quality
impact the quality of decisions.

Drucker P. Effective managerial decision-making requires a Opportunities,

focus on opportunities rather than problems and Problems, Calculated,
willingness to take calculated risks for Risks
innovation and growth.

Cyert R.M., Decision-making in organizations is a result of Bounded, Rationality,

March J.G., bounded rationality, with managers making Satisficing, Limited
satisficing decisions within the constraints of Information
limited information and cognitive capacity.

Hofstede G. Cultural factors can influence managerial Culture, Risk-taking,

decision-making, with varying preferences for Uncertainty
risk-taking, uncertainty avoidance, and time Avoidance
orientation across different cultures.

Eisenhardt In rapidly changing environments, effective Rapid Change,

K.M. managerial decision-making involves a Analysis, Intuition
combination of analysis and intuition, often
characterized as “fast cycling” decision
processes.
 Simon H. The concept of “bounded rationality” suggests Bounded Rationality,
that managers make decisions within cognitive Heuristics,
limits, using heuristics to simplify complex
problems and make satisfactory choices.

Drucker P. Managerial decision-making requires a Feedback Loop,

continuous feedback loop, allowing managers to Continuous Learning
learn from the outcomes of decisions and adjust
their strategies accordingly.

A variety of viewpoints are included in the theoretical landscape of

managerial decision-making, and each one provides a special lens through
which decisions can be understood and analyzed:

1. Rational Decision-Making. According to the rational model,

decision-makers methodically weigh all the options available, consider their
implications, and select the course of action that will maximize utility. This kind
places a strong emphasis on decision-making processes that are optimized and
rational.
2. Bounded Rationality. In contrast, the bounded rationality model
acknowledges that decision-makers operate within cognitive limitations, facing
constraints in terms of time, information, and computational abilities. Decisions,
therefore, are often satisficing rather than optimizing.
3. Behavioral Decision Theory. This kind, which draws on psychology,
investigates how emotions, heuristics, and cognitive biases affect judgement. It
acknowledges that people might behave in ways that are not entirely reasonable
and that they can make different kinds of cognitive mistakes.
4. Incremental Decision-Making. According to incrementalism,
choices are frequently made by making several minor tweaks or alterations as
opposed to doing a thorough, all-encompassing investigation. This kind
explains how decisions are evolutionary in nature.
The theoretical structure of managerial decision-making unfolds as a dynamic
and evolving framework, drawing from various disciplines and schools thought.

1. Cognitive Processes: Explores the cognitive dimensions of decision-

making, including information processing, problem recognition, and the role of
mental models in shaping how managers interpret and respond to situations.

2. Organizational Context: Embeds decision-making within the

organizational context, considering the impact of hierarchical structures,
communication channels, and organizational culture on the decision-making
process.

3. Decision-Making Models: Encompasses various decision-making

models, such as the classical model, administrative model, and political model,
each offering distinct insights into how decisions are formulated and
implemented within organizations.

4. Risk and Uncertainty: Examines the theoretical constructs related to

risk and uncertainty, acknowledging that decision-making is inherently fraught
with unpredictability, and managers must navigate the delicate balance between
risk aversion and risk-taking.

5. Ethical Considerations: incorporates ethical considerations, realizing

that making decisions involves more than just being efficient—it also involves
making decisions that are consistent with moral principles and values and
demonstrate a sense of social responsibility.

It is clear from delving into the theoretical underpinnings of management

decision-making that decision-making processes are intricate and
multidimensional, impacted by a wide range of variables. This theoretical
investigation's framework offers a basis for comprehending the complexities of
managerial decision-making, supplying insightful information that can guide
scholarly investigations as well as real-world applications in the field of
organizations. A multitude of elements impacting the organisation determine the
quality of management decisions. A well-defined and rationalised objective,
staff qualifications, information support, the structure and process of developing
and executing solutions, financial prospects, and management techniques are
the most crucial elements among all the others. I suggest considering a more
intricate yet more efficient technology for management decision-making at
Ukrainian businesses, which entails the following series of steps.

Phrasing of the issue

Obtaining data

Making sure it's specific

Identifying the decision's sphere of influence

Obtaining autonomy

Concurrence on the choice

Ultimate resolution to the issue

Reactions

Fig 1. Stages of decision-making

In conclusion, the stages of decision-making outlined in Figure 1 provide a
structured framework for navigating the complexities of managerial decision-
making. By emphasizing key steps such as phrasing the issue, obtaining data,
identifying the decision's sphere of influence, obtaining autonomy, reaching
concurrence on the choice, and arriving at the ultimate resolution, organizations
can streamline their decision-making processes. These stages highlight the
importance of thorough analysis, collaboration, and clarity in decision-making
to ensure effective outcomes and successful implementation of chosen
strategies. By following these stages diligently, decision-makers can enhance
their ability to make informed and strategic decisions that align with
organizational goals and objectives.

1.2 Role of Marketing in Decision-Making

When it comes to making decisions, marketing plays a crucial part for
businesses looking to prosper in the fast-paced, cutthroat corporate world of
today. Insights, information, and tactics related to marketing are vital for
supporting well-informed and efficient decision-making processes. This
thorough incorporation of marketing concepts and techniques into decision-
making processes has a major bearing on the development and success of
organizations.

One key aspect of marketing in decision-making is its ability to provide a

deep understanding of consumer behavior and preferences. Through market
research, data analysis, and customer feedback, marketing enables decision-
makers to gain insights into the needs and desires of their target audience. This
knowledge is essential for developing products and services that resonate with
customers, creating targeted marketing campaigns, and establishing competitive
advantages in the market. Moreover, marketing plays a vital role in identifying
market trends and opportunities. By monitoring industry developments,
competitor activities, and consumer trends, marketers can provide decision-
makers with valuable information to capitalize on emerging opportunities and
navigate potential threats. This proactive approach to decision-making allows
organizations to stay ahead of the curve and adapt to changing market
conditions effectively.

In addition, marketing contributes to the evaluation and measurement of

decision outcomes. Through key performance indicators (KPIs), metrics, and
analytics, marketers can assess the impact of decisions on various marketing
initiatives, such as sales, brand awareness, customer engagement, and return on
investment. This data-driven approach enables decision-makers to make data-
informed decisions, optimize strategies, and allocate resources effectively.
Furthermore, marketing supports decision-making by fostering innovation and
creativity within organizations. By leveraging marketing strategies such as
product development, branding, and communication, decision-makers can drive
innovation, differentiate their offerings, and create unique value propositions in
the market. Marketing also plays a crucial role in building brand equity,
enhancing customer loyalty, and establishing a strong market presence.

Overall, the role of marketing in decision-making is multifaceted and

essential for organizations aiming to achieve sustainable growth and
competitive advantage. By integrating marketing principles, tools, and strategies
into the decision-making process, organizations can make informed choices,
drive business performance, and build strong relationships with customers.
Embracing the power of marketing in decision-making can lead to enhanced
market positioning, increased profitability, and long-term success in today's
ever-evolving business environment.

In the context of the Ukrainian market, the role of marketing in decision-

making is highly relevant and impactful. For example, consider a scenario
where a Ukrainian company is launching a new product in a competitive
industry. By utilizing marketing tools such as market research, consumer
behavior analysis, and competitor analysis, the company can gather valuable
insights to make informed decisions. Through targeted marketing campaigns
based on consumer preferences and market trends, the company can effectively
position its product, differentiate it from competitors, and capture the attention
of the target audience. This strategic use of marketing not only enhances the
decision-making process but also increases the chances of success in a dynamic
and evolving market environment like Ukraine. Furthermore, by leveraging
marketing strategies to build brand awareness, establish a strong market
presence, and foster customer loyalty, Ukrainian companies can create
sustainable competitive advantages and drive long-term growth in their
respective industries. This example underscores the significant role that
marketing plays in guiding strategic decisions and achieving business objectives
in the Ukrainian market.

In conclusion, the pivotal role of marketing in decision-making processes

within organizations, particularly in the context of the Ukrainian market, cannot
be overstated. Through the strategic integration of marketing tools such as
market research, consumer behavior analysis, and competitor analysis,
companies in Ukraine can gain valuable insights to make informed and effective
decisions. By understanding the needs and preferences of Ukrainian consumers,
identifying market trends, and positioning their products or services
strategically, companies can enhance their competitive advantage and drive
business growth. The ability to leverage marketing strategies to build brand
equity, foster innovation, and establish strong relationships with customers is
essential for organizations operating in the dynamic and competitive Ukrainian
market.

The example of a Ukrainian company launching a new product highlight

how marketing support can significantly impact decision-making outcomes,
leading to successful market entry and sustainable growth. By embracing the
power of marketing in decision-making, Ukrainian companies can navigate
challenges, seize opportunities, and achieve long-term success in today's ever-
evolving business landscape. This underscores the relevance and importance of
integrating marketing tools into the decision-making process to drive
organizational success in the Ukrainian market and beyond.