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Abstract
Purpose – The purpose of this paper is to explore three key aspects of managerial decision making, namely managerial skills and attitudes, information and 留学生论文网performance measurement supporting decision-making, and companies’ approaches to the management of relationship with their stakeholders. Design/methodology/approach – After giving a broad view of the management practice of the sample, the paper analyzes the differences (by company size, dominant ownership, and performance) of companies according to the routines and attitudes of decision making. Findings – The findings of the research paper 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 significant impact on the effectiveness of managerial decision making. All these factors play an important role in the competitiveness of the Hungarian companies. Research limitations/implications – This research was based on a questionnaire. Further investigations would be necessary to check the results by interviews and case studies. Practical implications – Beyond summarizing the main experiences, the paper draws up some recommendations for the business community reflecting on the successful companies’ practice. Originality/value – The three factors presented by the paper can constitute a possible framework of managerial decision making in further researches.

Keywords Decision making, Information systems, Performance measurement, Management strategy, Stakeholder analysis, Hungary

Introduction
Our paper is based on a survey carried out during the spring of 2004 by the Competitiveness Research Centre at the Corvine University of Budapest. The main goal of the survey was to describe the competitiveness of the Hungarian micro sphere at the moment of accession to the European Union. The survey was performed between March and June in a historic moment. It is important to highlight that this was not our first survey on this topic. We performed a similarly structured survey in 1996 – also in the frame of the “In Global Competition” research program – and the survey was repeated in 1999 as well. Consequently, we could evaluate the path leading to the current situation and the development of the competitiveness of Hungarian companies based on three similarly structured and sized database. The results of the previous surveys justify the validity of the research methodology. During our analysis we used five-point-Liker scales, and we explored significant relationships by applying NOVA-tests comparing means of the evaluations (significance level was 95 percent).However, we would like to emphasize that the survey and its results reflect the opinion of the executives, not some objective truth (Chicano et al., 2002).

Characteristics of the sample
The sample of 1,204 executives of 301 companies consists of primarily of medium sizedmanufacturing companies in mostly domestic ownership. One third of the sample arelarge companies, almost 42 percent of the companies are medium sized firms, and aquarter of the sample are small enterprises.
Half of the companies in the sample have Hungarian ownership (or dominantHungarian ownership), 20 percent of the firms have dominant foreign ownership. Theratio of the st本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。