Improving the effectiveness of management decisions using advanced evaluation criteria

Abstract

In this qualification work were studied economic and organizational aspects of management decisions in the manufacturing industry. The research focuses on Foxconn Precision Electronics (Taiyuan) Co., Ltd., aiming to enhance decision-making effectiveness through advanced evaluation criteria. In the first chapter, the theoretical foundations of management decisions were analyzed, including key influencing factors such as organizational culture, market pressures, and employee engagement. This chapter also examined various evaluation criteria used in assessing management decisions, emphasizing their impact on long-term business success. It was found that the effectiveness of management decisions is highly dependent on a balanced use of qualitative and quantitative evaluation methods, ensuring decisions align with both organizational goals and external market conditions. The chapter also highlighted the need for a structured decision-making process that integrates both traditional knowledge and modern technological tools. In the second chapter, the current management practices at Foxconn Precision Electronics (Taiyuan) Co., Ltd. were assessed, identifying strengths and weaknesses in decision-making. The study explored how existing practices align with the company’s strategic objectives, as well as areas that could benefit from improvement. It was noted that the company’s decision-making process could be optimized through better integration of technology and data-driven insights, reducing human bias and improving overall operational efficiency. In the third chapter, innovative strategies were proposed to improve decision-making, incorporating advanced evaluation criteria and technology-driven approaches. The research substantiated the effectiveness of integrating structured evaluation frameworks, such as predictive analytics and AI-based decision models, which have shown to enhance operational efficiency and competitiveness. By adopting these frameworks, Foxconn can streamline its decision-making process, making it more agile and responsive to the fast-changing global market. The conclusions and proposals summarise the results of the study.