Dimensions of Decision-Making Process Quality and Company Performance: A Study of Top Managers in Slovenia

Damjan Grušovnik; Alenka Kavkler

Damjan Grušovnik
Alenka Kavkler

Keywords: quality of the decision-making process, rationality, motivation, participation, exhaustivity of the information, managers effort, creativity and innovativeness, company stakeholders, company performance

Abstract

This paper investigates the relationship between the dimensions of the decision- making process quality and company performance of top managers’ in Slovenia. We found out that companies whose managers exhibit an above-average dimension of openness of spirit in the quality of the decision making process, on average, have a higher stance on foreign markets as companies in which managers show a below-average open spirit. For the managers who work in companies that are present in foreign markets, we could confirm that there is a low/weak correlation between the dimension of effort of the decision-making process quality and the number of employees in a company.

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Author Biographies

Damjan Grušovnik

Mariborska cesta 65, Ptuj, Slovenia
E-mail: damjan.grusovnik@gmail.com

Damjan Grušovnik was a post graduate student on the Faculty of economics and business in Maribor, Slovenia. He made his bachelor on the direction General management. After that he studied on a Bologna master’s program in the direction Entrepreneurship and innovation. After the completion of the exams he upgraded to the scientific master’s program with focus on Innovation management, where he completed he’s masters work.

Alenka Kavkler

University of Maribor, Faculty of Economics and Business, Slovenia
E-mail: alenka.kavkler@um.si

Alenka Kavkler is Associate Professor of Quantitative Methods in Business Science at the Faculty of Economics and Business, University of Maribor. She received her M.Sc. in mathematics from University of Ljubljana and her PhD from Vienna University of Technology. Her research is mainly focused on nonlinear econometric models, especially smooth transition regression models. She is currently Head of the Institute of Operations Research at the Faculty of Economics and Business.

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