The Impact of Gender Diversity on the Quality of Management Decisions in the Corporate Sector

Abstract

The quality of management decision-making is determined by a number of factors, including the high competence of top management, its ability to adequately perceive and take into account the dynamism and instability of the external environment in the decision-making process for the purpose of flexible restructuring of business processes, and, if necessary, to adjust the company’s development strategy. In other words, competent leadership is a key factor in the quality of management decisions as a result of prompt, strategically verified and balanced adoption. At the same time, studying the quality of management decisions is impossible without taking into account the specifics of each individual company, its organizational structure, corporate culture, corporate communications system, management style, personal characteristics of top management, and gender diversity in the company's leadership. The study and synthesis of statistical data revealing the impact of gender diversity on company performance made it possible to provide a reasoned justification for the existence of a direct connection between the inclusion of women in directors and the profitability of companies. The combination of female and male mentality in company management allows us to find and apply new approaches to making management decisions that allow us to achieve all our goals. The success of many companies headed by women shows that it is largely predetermined by the personal qualities of women managers, manifested in the choice of behavioral models, preferences of methodological approaches to the management decision-making process, levels of adoption and types of decisions made, as well as their inherent personal authority and personal qualities. Gender diversity of the top management of companies allows us to minimize the possible deficit of the required personal qualities for making management decisions, which will inevitably lead to the effectiveness of the decisions made.