Approaches to managerial decision-making and performance of Russian small and medium-sized enterprises during the economic crisis

Abstract

The ever-increasing uncertainty and complexity of the modern business environment questions the effectiveness of a planning-oriented approach to managerial decision-making in organizations, as it prevents flexibility and adaptation of the firm to unexpected changes. The study of alternative models of decision-making is particularly relevant under conditions of exogenous shocks and economic crises, which serve as additional sources of uncertainty. The present dissertation research aims at providing theoretical substantiation and empirical assessment of the association between approaches to managerial decision-making and performance of small- and medium-sized firms under conditions of economic crisis taking into account factors of external business environment.