Managerial Decision Making and Competiriveness – The Case of Hungary

Abstract

The paper explores three key aspects of managerial decision making. The findings of the Research Program “In Global Competition” suggest that managerial capabilities and skills, and attitudes toward decision making, the information and performance measurement supporting decision making, and companies’ approaches to the management of relationship with their stakeholders have a significant impact on the effectiveness of managerial decision making. We experienced that all these factors play an important role in the competitiveness of the Hungarian companies. After giving a broad view of the management practice of the sample we analyze the differences of different clusters (by company size, dominant ownership, and performance) of companies according to the routines and attitudes of decision making. Beyond summarizing the main experiences we draw up some recommendations for the business community reflecting on the successful companies’ practice. The three factors presented by the paper can constitute a possible framework of managerial decision making which is to be tested by future research using case study methodology.