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Title: | Economic calculus and weak signals : prevention against foggy bottom |
Authors: | Dobrowolski, Zbyslaw Drozdowski, Grzegorz Dobrowolska, Monika Sobon, Janusz Sobon, Dariusz |
Keywords: | Uncertainty Managerial economics -- Case studies Management -- Case studies Risk -- Case studies Public administration -- Case studies |
Issue Date: | 2021 |
Publisher: | University of Piraeus. International Strategic Management Association |
Citation: | Dobrowolski, Z., Drozdowski, G., Dobrowolska, M., Sobon, J., & Sobon, D. (2021). Economic calculus and weak signals: prevention against foggy bottom. European Research Studies Journal, 24(2), 165-174. |
Abstract: | Purpose: Investment decisions are taken based on an economic calculation, considering the analysis of a diverse and partially unpredictable economic environment. Each enterprise's economic calculus is treated as a decision based on rationality and serves as an instrument to support the investment measure's selection. Despite different studies, there is a research gap in the usage of weak signals in economic calculus. Meanwhile, the spectacular collapses of well-recognised firms resulted from weak identification of coming failures. Approach/Methodology/Design: The authors carried out an integrative literature review to generate new knowledge on the usage of weak signals in economic calculus insights in this paper have emerged iteratively. Findings: Based on an integrative literature review, the authors offer the potentially radical generalisation that firms must use weak signal analysis during the process of economic calculus creation. Practical Implications: The article brings several valuable information that can be the base material and reference to further research. Study results can be a starting point of discussion and analysis on each firm, both from the public and private sectors. Originality/Value: The original study aims to initiate discussion and further research weak signal analysis in economic calculus. It is the first such research. |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/82060 |
Appears in Collections: | European Research Studies Journal, Volume 24, Issue 2 |
Files in This Item:
File | Description | Size | Format | |
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Economic_calculus_and_weak_signals.pdf | 217.21 kB | Adobe PDF | View/Open |
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