Computer Replacement Decision-Making Process

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which criterion has the highest weight in the computer replacement decision?

Memory and Storage (correct)

Display Quality

Battery life

Warranty

What is the weight assigned to the criterion of battery life?

8 (correct)

Which criterion has the lowest weight in the replacement decision process?

Warranty (correct)

Carrying Weight

Memory and Storage

Display Quality

In the context of developing alternatives for computer replacements, what is the first step?

Identifying viable alternatives Signup and view all the answers

How many total criteria are listed for the computer replacement decision?

5 Signup and view all the answers

What is the primary goal of making decisions in management?

To balance risks and opportunities for effective outcomes Signup and view all the answers

Which of the following factors should NOT be considered when making a decision?

Personal biases and emotions Signup and view all the answers

When making a decision, which approach is generally considered most effective?

Using a systematic and analytical process Signup and view all the answers

What role do alternatives play in decision-making?

They provide options that can lead to better outcomes Signup and view all the answers

Which of the following is a common pitfall in decision-making?

Overconfidence in personal judgment without evidence Signup and view all the answers

What is the primary purpose of developing alternatives when selecting a laptop?

To find a laptop that meets personal criteria Signup and view all the answers

What does the analyzing step involve during the decision-making process?

Comparing different laptop models based on various factors Signup and view all the answers

Why is it important to base the decision-making process on personal criteria rather than just specifications?

Personal criteria ensure the laptop meets specific needs and preferences Signup and view all the answers

What role does the specifications sheet play in selecting a laptop?

It provides a standard for comparing different models Signup and view all the answers

Which of the following best reflects the nature of listing down different laptop models?

It is the first step in identifying potential candidates for purchase Signup and view all the answers

What is the primary focus when appraising an alternative?

The ability to resolve identified issues Signup and view all the answers

What is considered a strength of an alternative in the appraisal process?

Its ability to effectively solve the core issues Signup and view all the answers

Which of the following would NOT be a consideration when analyzing alternatives?

Personal biases of the decision-maker Signup and view all the answers

In the context of analyzing alternatives, weaknesses refer to:

Risks that could impede success Signup and view all the answers

How should the strengths and weaknesses of alternatives be utilized in decision-making?

To determine the feasibility of each alternative's implementation Signup and view all the answers

What is the primary goal in Step 6 of the decision-making process?

To choose the alternative with the highest total weight Signup and view all the answers

Why is it important to assess the values of alternatives?

It provides a basis for comparing their overall effectiveness Signup and view all the answers

Which of the following can be a consequence of not choosing the alternative with the highest total weight?

Increased overall costs Signup and view all the answers

In the context of selecting an alternative, what does 'total weight' refer to?

The cumulative assessment scores based on decision criteria Signup and view all the answers

Which approach should not be taken when selecting an alternative?

Choosing based solely on personal preference Signup and view all the answers

What is the primary goal when selecting an alternative to resolve a problem?

Opting for the alternative that offers the highest total value based on personal criteria Signup and view all the answers

Which of the following statements accurately reflects the implementation of a selected alternative?

You execute the decision by making the purchase of the chosen alternative Signup and view all the answers

What does 'implementing the selected alternative' imply in the decision-making process?

Taking action based on the chosen alternative's evaluation Signup and view all the answers

Which of the following best describes a consideration in the selection of an alternative?

Prioritizing the option that aligns with pre-established personal criteria Signup and view all the answers

Why is it crucial to evaluate alternatives using personal criteria?

To make a choice that resonates with personal preferences and requirements Signup and view all the answers

Study Notes

Chapter 2: Making Decisions

A decision is a choice between two or more alternatives.
The decision-making process involves identifying a problem, evaluating criteria, weighting criteria, exploring alternatives, analyzing alternatives, choosing the best alternative, implementing the chosen alternative, and evaluating the outcome.
Identifying a problem is recognizing a discrepancy between the current state and the desired state. A problem becomes a problem when a manager becomes aware of it, there is pressure to solve it, and the manager has the authority, information, or resources to resolve it.
Decision criteria are important elements for resolving a problem. Decision criteria can be cost, risk, and desired outcomes.
Decision criteria are not equally important. Weights are assigned to each criteria to reflect their relative importance in the decision-making process.
Developing alternatives involves identifying possible solutions.
Analyzing alternatives involves evaluating the potential benefits and drawbacks of each option.
Choosing the best alternative involves selecting the option that best meets the criteria and goals.
Implementing the chosen alternative involves putting the decision into action.
Evaluating the effectiveness of the decision involves assessing the results to determine if the desired outcome was achieved.
Rational decision-making is based on head (logic, analysis and evidence) and a structured process. A clear goal and awareness of alternative options and consequences is needed. The best choice is the one that maximizes achieving the goal.
Intuitive decision-making is based on experience, feelings, and accumulated judgement.
Bounded rationality recognizes that individuals have limitations in processing information. Solutions are satisfactory rather than optimal.
Escalation of commitment refers to an increased commitment to a previous decision despite evidence it may have been wrong.

Types of Decisions

Structured problems include straightforward, familiar, easily defined problems. A good example is a broken machine.
Programmed decisions use a routine approach to tackle recurring issues. For example, fixing a recurring problem with a broken machine.

Types of Programmed Decisions

Procedure: Sequential steps for solving a structured problem.
Rule: Explicit statement about what can or cannot be done.
Policy: Guideline for making decisions.

Types of Decisions: Unstructured Problems and Nonprogrammed Decisions

Unstructured problems are new and unusual with ambiguous or incomplete information.
Nonprogrammed decisions are unique, nonrecurring decisions that require custom made solutions. COVID-19 is an example of this.

Programmed vs Nonprogrammed Decisions

Programmed decisions are routine, handled by lower managers, while nonprogrammed decisions are new, unique, handled at upper levels of management.
Programmed decisions use established procedures, routines, rules, and policies. Nonprogrammed decisions involve judgment and creativity.

Studying That Suits You

Use AI to generate personalized quizzes and flashcards to suit your learning preferences.

Description

Test your knowledge on the criteria and steps involved in making decisions regarding computer replacements. This quiz covers essential aspects such as weight of criteria, pitfalls, and the role of alternatives in decision-making. Perfect for students and professionals looking to enhance their management decision-making skills.