Abstract:

Investment decisions in enterprises represent a complex process due to the risk associated with it. The result of this process is the realization of the investment which binds a large amount of financial resources, is time-consuming and a demanding process, and has to bear the company's future benefit. The selection of the right investment is therefore often of a strategic nature to the enterprises. The problem in this area is the lack of connection of the investment decision-making with the managerial one and its tools. This study is dealing with the identification of the essential activities, elements and tools in the process of investment decision-making on tangible and intangible assets in enterprises. The research focuses only on tangible and intangible assets, because the process of decision-making on financial assets consists of other activities. The subjects of the research are medium-sized IT enterprises in the Slovak Republic, in which this decision-making is most in regard of the highest proportion of tangible assets in the assets of the enterprises and its wear-out. The purpose of this article is to provide an insight into related investment and management decision-making process from a theoretical and practical point of view as well as to suggest recommendations to improve the process of deciding on investments, which should help, in the selected IT enterprises, to more efficient managerial investment decision making and to the selection of the right investment.