Contemporary market conditions are dynamic, changeable and full of different characteristics. This creates a necessity to research the business of organisations from different industries, their confronting with market challenges and their use of market opportunities to gain insight into modern business. To gain these insights of particular value are the decisions of managers which determine the course of behaviour of organisations as well as their future development. The combination of theoretical models of managerial behaviour and decision-making with empirical research can give the frames of and deep insight into the business of modern companies. In this work, an analysis of theoretical models of behaviour and decision-making of managers was made as well as an empirical analysis of the business of Maistra Group, a part of which is the analysis of the Croatian hotel industry. The activities of the tourism sector. are some of the most important parts of the economy of the Republic of Croatia and Maistra Group is one of the most significant hotel companies which offers different services to a large number of visitors to Croatia. Because of these reasons, it was analysed for the needs of this work. Through the analysis of theoretical models and empirical research, this work wants to contribute to a deeper understanding of modern business and managerial decision-making and to the cognition of the quality of doing business of an important Croatian company and the tourism sector in the Republic of Croatia.