Page 82 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.77, # 2, 2020, pp. 78-85

emphasized that the properties of an object or process exist apart from the will of a
person, regardless of his awareness. However, this objectivity is to a certain extent
conditional, since it is impossible to deny the presence of a person in objects or
processes that are of artificial origin. When it comes to the quality of the
management process, it is impossible to talk about the complete objectivity of this
category, because decision-making is a process that involves the direct participation
of a person, which leads to a subjective perception of the quality of this process. At
the same time, it is the subjective perception of quality that helps to evaluate it.
Better quality will be such a management decision, which has a more pronounced
set of properties (parameters, decisions) that satisfy a specific business entity and
ensure the efficiency of its functioning [Larbi, Annor, (2014)].
A functional understanding of quality, the pattern of expressing qualitative
characteristics through quantitative indicators is closely related to the practice of
management, economic processes. One of the founders of the scientific discipline of
quasimetric G.G. Azgaldov gives the following definition of quality: “Quality is a
complex property, which is a combination of all those and only those properties that
characterize the result obtained by consuming an object” [Laudon, Kenneth c., and
Laudon, Jane p., (2007)].

The quality of a managerial decision is a set of properties of a managerial decision
taken by the management apparatus to achieve goals consistent with the interests of
the business owner [Laudon, Kenneth c., and Laudon, Jane p., (2007)].

Management decision, as the most important part of a complex management
process, largely determines the level of its quality, ensures the competitiveness and
efficiency of the enterprise. It is “the decision making is the essence of the
management process, its ascending and most responsible stage, determines the level
of productivity and efficiency of the entire system and management processes”.
Moreover, "the management decision is the final stage of the management process
and determines its result." [Laudon, Kenneth c., and Laudon, Jane p., (2007), Luchs,
M.,Brower, J.,and Chitturi, R. (2012)].

To prepare conclusions and recommendations based on the results of the analysis of
the quality of the management decision-making process, it is necessary to proceed to
the next stage of the analysis - generalization of information. It is at this stage that
the basis is created for the formation of options for managerial decisions aimed at
improving the quality of the decision-making process [Luchs, M.,Brower, J.,and
Chitturi, R. (2012)].

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