VERIFICATION OF DECISIONS CORRECTNESS USING ECONOMETRIC METHODS

Management existence cannot be thought without decision, and taking into consideration the role played by the management, some authors in the domain appreciate that the essence of management is represented by the process of decisiontaking. The idea that assessing management starts from the analysis of the elaborated decisions, from the results of companies as a consequences of decisions taken, the decision being the base of the management process, contributing to performance of the management, effectiveness and opportunity of decisions thereby contributing to increased efficiency of management process. Econometric methods are an indispensable tool to systematize and interpret raw statistical data. Moreover, econometric methods are only possible methods to try to identify empirical relationships and interdependences between key variables.