January 26, 2021

   Management decisions – what are they? What is the main thing for the manager in making a decision? How to model your business and not go bankrupt? How do the patterns of the universe and the rise and declines in the global financial market affect? The answers to these questions combine the laws of mathematics.
The rapid development of the modern world dictates the need to formalize the problems of economic theory and practice, and to study various economic processes and phenomena, scientists use their simplified formalized descriptions – economic models. There are certain systems that are difficult to investigate by conventional theoretical methods, because a direct experiment on them is almost impossible, and the price of error or miscalculation is too high. Therefore, mathematical modeling is an inevitable component of scientific and technological progress.

   As practice shows, the validity of management decisions requires a comprehensive consideration of the interaction of internal and external factors of the environment in which these solutions will be implemented, and their comprehensive analysis, which requires a significant amount of reliable information. Information processing, its analytical research in terms of management decision-making, first of all passes the stage of economic and logical research.
   Each specific situation requires certain analytical work based on certain methodological approaches to justify management decisions in order to increase the reliability of the expected results and reduce the risk of losses.
   Many people dream of opening a business, but most often the choice of field of activity is an acute problem. The business of growing and selling nuts can become quite profitable, the main thing is to understand the specifics of such a business. How do they start to run a nut business?

   Head of the Department of Administrative Management and Foreign Economic Activity, Doctor of Economics, Professor, Vitaliy Lutsyak within the topic: "From idea to achievements. The story of one ordinary opinion!" told how exactly the nut business works, what start-up capital is needed and what are the components of the costs for starting a business. He revealed the issues of economic and marketing modelling, showed several scenarios and business models in the nut business.

   Anna Slobodyanyk, Associate Professor of the Department of Management named after Prof. J. Zavadsky, shared her experience on how to learn to recognize the most common models, told under what conditions it is possible to open trade agreements. Starting trading in the financial market, it is worth choosing Elliott Waves Theory as a reference and auxiliary method for analysis. The essence of the wave analysis is that the price movement is natural and the same model of the price "path" is constantly repeated. The main difficulty of using wave analysis is to correctly find the wave, because it is necessary to properly separate noise and other phenomena of a cyclical nature from, in fact, the Elliot wave.

   At the end of the meeting, Valentyna Tsybko announced a number of joint events with the Faculty of Agrarian Management, which will be held for students-members of the scientific department of mathematics of the and teachers-heads of student research projects.

Natalia Dragneva,
Associate Professor of the Department of Management. Prof. J. Zavadsky
Translated by Tetiana Artiukh


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