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COMPARISON OF MINING PREDICTION WITH REAL MINING AS A TOOL FOR STRATEGIC MANAGEMENT

Adam Pawliczek, Lenka Tkacikova, Ladislav Moravec, Daniela Navrátilová, Renata Pavlickova

First published: 2020-09-20https://doi.org/10.5593/sgem2020/1.2/s03.006View metrics

Abstract

This paper responds to published scientific papers which compile econometric models of extraction of selected mineral resources. Mining prediction models can be new tools to increase the competitiveness of mining enterprises. Comparing the results of mining prediction and real data is important for further research on the issue. Specification of the results will lead to better managerial decisions in strategic and operational management. The results of the paper can lead to the clarification of the so-called random component in econometric models and the refinement of the assembled models. Random components are different from macroeconomic indicators. These components cannot be quantitatively captured in calculations in terms of econometric models. These components are influenced by the economic models of the mineral extraction prediction. The aim of the paper is to estimate random components in the future when using mining predictions as support for managerial decisions. Other mining activities may react differently to other random components.

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Publication details

Title
COMPARISON OF MINING PREDICTION WITH REAL MINING AS A TOOL FOR STRATEGIC MANAGEMENT
Authors
Adam Pawliczek, Lenka Tkacikova, Ladislav Moravec, Daniela Navrátilová, Renata Pavlickova
Proceedings
SGEM International Multidisciplinary Scientific GeoConference EXPO Proceedings; 20th International Multidisciplinary Scientific GeoConference Proceedings SGEM 2020, Science and Technologies in Geology, Exploration And Mining
Publisher
STEF92 Technology
Year
2020
Pages
43-50
SWS Citekey
Pawliczek202034350
ISSN
1314-2704
ISBN
978-619-7603-05-7
Language
en
Publication type
Conference Paper
Keywords
Econometric modelscomparison of resultsmanagerial decisionsstrategic management
References2

  1. HINDLS, Richard, Stanislava HRONOV? a Jan SEGER. Statistika pro ekonomy. 5. vyd. Praha: Professional Publishing, 2004, 415 s. ISBN 80-86419-59-2.

  2. Chlopeck?, J., Rol??kov?, M., Kratochv?l, M.Decision making influence of some macroeconomic factors concerning prospective sales of fine silicon carbide (2015) International Multidisciplinary Scientific GeoConference Surveying Geology and Mining Ecology Management, SGEM, 3 (1), pp. 171-178.

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