Decision Making for Small and Medium Size Enterprises With Focus on Successful Workplace Collaboration

Abstract

Research purpose. It is rational to say that individual decision making is less time consuming and easier than group decision making. Decisions can be accomplished in such a manner as long the individual is an expert, well-informed on the topic, and is unbiased. However, due to globalization and technological advancement people are enforced to perform challenging tasks in collaboration with other individuals. Nowadays one of the factors which contribute the most to business success is whether or not employees are able to collaborate in team settings. By utilizing team settings businesses gain fasters operations and more effective results. Additionally, collaboration positively impacts individuals' responsibility, which furthermore empowers their motivation, especially in a digital workplace setup. Thus the purpose of this research is to determine and evaluate the most important values which impact collaboration in small and medium enterprises (SMEs).Methodology. The study was carried out in a non-experimental way with a focus to collect data for descriptive research. A two-phase structured self-administrative survey was distributed online (n=117). 7 points Likert scale was applied to sum survey responses over the set of individual values.Value / Practical implications. As a conclusion is offered a set of recommendations for managers concerning the improvement of collaboration in the workplace based on discovered individuals' values, like introducing Kanban boards to track and trace the efficiency of individual effort, increasing autonomy in the workplace, etc.