WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 11, 2014
Prevention of Crises Based on the Creation and Usage of Simulation Models
Authors: ,
Abstract: The article focused on the issues of crisis prevention solution with the help of the simulation model and the use of production functions. The aim is the explaining of simulation model which presents management system adequated to crisis prevention requirements (early warning system). Presented simulation model and the utilization of production functions are relating to coal mining but it can be used in other sectors, too. Starting points as the functional characteristics and structure of elements linkage and behavior, i.e. characteristics which determine the dynamics of coal mining process are characterized. Simulation model is structured as functional blocks and their linkages with regard to organizational and temporal hierarchy of their actions. Then production function characteristics and their utilization in a dynamic simulation are presented. In conclusion, the article emphasizes direct relationship of the simulation model and preventive crisis intervention. The creation of presented simulation model is based on theoretical findings of regulation, knowledge of a dynamic behavior, hierarchical systems and optimization.
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Pages: 141-154
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 11, 2014, Art. #13