DECISION MAKING FOR SMALL AND MEDIUM SIZE ENTERPRISES WITH A 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.