D 2020

REGRESSION ANALYSIS AS A SUPPORT TOOL FOR STRATEGIC DECISIONS IN MINING AND OTHER COMPANIES

HUBÁČEK, Jaroslav, Ladislav MORAVEC, Omar AMEIR and Daniela NAVRÁTILOVÁ

Basic information

Original name

REGRESSION ANALYSIS AS A SUPPORT TOOL FOR STRATEGIC DECISIONS IN MINING AND OTHER COMPANIES

Authors

HUBÁČEK, Jaroslav (203 Czech Republic, belonging to the institution), Ladislav MORAVEC (203 Czech Republic), Omar AMEIR (203 Czech Republic, belonging to the institution) and Daniela NAVRÁTILOVÁ (203 Czech Republic, belonging to the institution)

Edition

Bulharsko, 20th International Multidisciplinary Scientific GeoConference SGEM 2020, p. 239-244, 6 pp. 2020

Publisher

International Multidisciplinary Scientific Geoconference SGEM

Other information

Language

English

Type of outcome

Stať ve sborníku

Field of Study

50204 Business and management

Country of publisher

Bulgaria

Confidentiality degree

není předmětem státního či obchodního tajemství

Publication form

electronic version available online

References:

RIV identification code

RIV/26867184:_____/20:N0000029

Organization unit

Moravian Business College Olomouc

ISSN

Keywords in English

Regression analysis; model; company; competitiveness; strategic management; Mining

Tags

Změněno: 4/5/2021 13:54, Ing. Michaela Nováková

Abstract

V originále

Regression analysis is widely used in situations where it is necessary to determine the dependence of a certain quantitative (continuous) variable on one or more other quantitative (continuous) variables, so-called regressors. It is necessary to determine in advance which variable is independent (explanatory) and which is dependent (explained). The aim of the regression analysis is to describe this dependence using a suitable mathematical-statistical model. The presented paper aims to find the possibilities of using this method in strategic management as a suitable tool for investment and operational activities. Appropriately used regression analysis can find connections, for example, between the volume of mining and macroeconomic indicators of the national economy and the application of these results appears to be another tool for better, more efficient and competitive business management in all sectors of the economy. The theoretical basis of the method is applied to selected sectors of companies such as trade unions, industrial companies, etc. In the research, a tool is created in the MS Excel environment, which can find suitable dependencies according to defined parameters. Based on these results, the management of any company can better define their decisions, whether of a strategic or operational nature. The standard MS Excel package is chosen because it is part of most operating systems in companies and it is not necessary to choose more sophisticated statistical tools for basic knowledge of the issue. The results of the article will be further investigated in the form of more sophisticated systems in the field of mathematical and statistical models.