Categories of Decision Making and Definition

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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:

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

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

Increase the prices charged to customers. Signup and view all the answers

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

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

Which of the following is considered a strategic decision?

Determining the company's mission and long-term goals Signup and view all the answers

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

Analyzing the environment Signup and view all the answers

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

Decision-making is the heart of all management functions. Signup and view all the answers

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

To generate a list of possible solutions to the problem Signup and view all the answers

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

Supplier relationships Signup and view all the answers

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

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

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?

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

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

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

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

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

Which of the following is considered a strategic decision?

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

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

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

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

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

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