INTERPRETATIONS OF NOTION
"INVESTMENT DECISION-MAKING PROCESS
ECONOMIC SECURITY”

M. Doroshko

Volodymyr Dahl East Ukrainian National University, Lugansk, Ukraine

Nowadays the issue of economic security (ES) and its business-processes, including investment decision-making process economic security (IDMPES), has acquired topicality. Today there are several approaches to ES which complement each other. Notion "IDMPES" can be considered reflecting existing interpretations of ES on investment decision-making process (IDMP).

Generalizing existing approaches to ES, they can be consolidated in some interpretations. The first interpretation can be called "resource-provision", according to which ES of an object is state of the object, which is characterized by absence of lack of resources required to provide process while functioning.

Another interpretation takes into account interconnect and complementarity of external and internal environments of organization – "complementarity" – as ES is created with a combination of internal and external environments. In this interpretation there are two aspects. Firstly, environment creates conditions that provide ES and company keeps it unchanged – this interpretation can be called "non-anxiety". "Non-anxiety" can be detailed as "protectability", which is a state of provision of internal environment with special means by which threats of external environment do not cause adverse effects; and "comfortability", which is a state of external environment which does not cause adverse effects. Secondly, "complementarity" is ability to adequate reaction to environment. This interpretation can be called "adequacy." It can be divided at "stableness" meaning ability to withstand external threats and "flexibility" meaning ability to change (react) in accordance with external environment, thus avoiding negative consequences, i.e. ability to avoid negative impacts. 

The third interpretation of ES is harmonization of interests ("consistency"). In this state of object agents work in cooperation, i.e. even while taking place a conflict of agents’ interests incentive to cooperate is stronger than incentive to conflict or agents have found a compromise.

Research has shown that IDMPES comes down to information-awareness of decision-making person (DMP). The main subject of considering functioning system (management staff) is DMP. DMP is a consumer of formal communication, i.e. functioning of system of communication, through which information providing of such decisions is implemented, is directed at him. DMP’s activity is decision-making and needed resource for decision-making is information getting from data. Thus provision of system of IDMPES with resource that is needed to carry out DMP’s activity notably resource-provision is provision with data. Characteristic defining possession of data may be DMP’s "data-provision".

Comfortability in the IDMPES context is adequacy of external conditions to management personnel. External environment is characterized by a lack of complex situations i.e. low frequency of unique, unstructured situations. This state in the context of management staff activity can be called "routinity" characterizing appearance of non-unique situations.

Protectability for IDMPES is provision of data integrity and confidentiality of information in conjunction with its accessibility to certain users notably that is information security ("infosecurity").

Stableness in this context can be considered as stableness of quality of decisions made to external environment. Regardless of emerged problem situation management staff is able to process such amount of data to make decision with sufficient certainty. Stableness is proposed to interpret as "confidence". As management staff's ability to analyze information regardless of problem situation complexity is not changed and management staff makes decisions with the same quality i.e. are characterized with equal confidence.

Flexibility is ability to avoid negative impacts while changing. For IDMPES it is associated with quality of IDMP agents i.e. it is a characteristic of people whose relations in communication process are regulated. In [1] positive characteristics of human factor, which is ability of personnel to adequately operate in unfamiliar or extreme conditions, are called versal human capital.  As mentioned characteristics connected with people and flexibility is expressed through their ability to react on situation, the notion "versality " can be adapted to flexibility interpretation of formal communication structure agents.

In [2] it is shown expression of consistency in conventions of communication system agents. Conventions represent agreements between agents of IDMP. Consistency is reduced to conventions, so it can be interpreted as "conventionality".

Thereby having reflected existing approaches of ES to IDMP,  IDMPES has six interpretations called routinity, data-provision, versality, confidence, infosecurity, conventionality, forming together information-awareness of DMP.

References:

1.     Рибнікова Н.О. Про ідентифікацію задіяних у забезпеченні економічної безпеки підприємства ресурсів як виразників єдиного адаптаційного ресурсу [Електронний ресурс] / Н.О. Рибнікова, П.В. Кривуля – Режим доступу: www.duep.edu/res/files/2110/Ribnikova.doc.

2.     Кривуля П. В. Конвенции внутриорганизационных коммуникантов как условие информационного обеспечения принятия управленческих решений / П. В. Кривуля, М. В. Дорошко // Проблеми економічного та правового забезпечення менеджменту суб’єктів, що господарюють (пам’яті професора В.Н.Ткаченко) : матеріали наук. конф., 17-18 квіт. 2008 р. — Донецьк: ДонНТУ, 2008. — С. 169-176.