Categories of Decision Making and Definition
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Questions and Answers

Which one of the following is NOT a characteristic of a good decision according to the text?

  • A good decision is accountable.
  • A good decision is expensive. (correct)
  • A good decision fosters opportunity.
  • A good decision is systematic.

    • When does the text indicate that managers tend to use a qualitative approach to problem solving?

  • When immediate decisions are needed.
  • When the problem is simple and familiar. (correct)
  • When the problem is complex and unfamiliar.
  • When the costs involved are substantial.

    • Which of the following is NOT one of the steps in the decision-making process?

  • Evaluate the alternatives.
  • Implement the decision.
  • Generate the alternatives.
  • Revise the list of solutions. (correct)

    • The text mentions that the $\text{Economic Order Quantity (EOQ)}$ model is used to calculate the:

    <p>Number of items that should be ordered at one time to minimize total yearly cost.</p> Signup and view all the answers

    Which of the following is NOT a potential solution to the problem faced by the engineering manager?

    <p>Increase the prices charged to customers.</p> Signup and view all the answers

    The text states that choice-making refers to the process of:

    <p>Selecting among alternatives representing potential solutions to a problem.</p> Signup and view all the answers

    Which of the following is considered a strategic decision?

    <p>Determining the company's mission and long-term goals</p> Signup and view all the answers

    Which step in the rational decision-making process involves analyzing the internal and external environment?

    <p>Analyzing the environment</p> Signup and view all the answers

    Which of the following statements about decision-making is correct?

    <p>Decision-making is the heart of all management functions.</p> Signup and view all the answers

    What is the purpose of the step in the rational decision-making process where viable alternatives are developed?

    <p>To generate a list of possible solutions to the problem</p> Signup and view all the answers

    Which of the following is considered an external environmental factor in the decision-making process?

    <p>Supplier relationships</p> Signup and view all the answers

    Which step in the rational decision-making process is considered the most important?

    <p>An expert said that identifying the problem is tantamount to having the problem half-solved</p> Signup and view all the answers

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