Decision Making and Entrepreneurship Chapter 5
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Questions and Answers

What is the process of responding to opportunities and threats by analyzing options and making determinations about specific organizational goals and courses of action?

  • Creativity
  • Managerial decision making (correct)
  • Entrepreneurship
  • Organizational learning

    • What type of decision making follows established rules or guidelines?

  • Creative decision making
  • Non-programmed decision making
  • Programmed decision making (correct)
  • Entrepreneurial decision making

    • What is a characteristic of programmed decision making?

  • Managers have never made the same decision before
  • It is a complex and uncertain process
  • Managers have made the same decision many times before (correct)
  • There are no rules or guidelines to follow

    • What is the goal of managerial decision making?

    <p>To respond to opportunities and threats</p> Signup and view all the answers

    What is the role of organizational learning and creativity in managerial decision making?

    <p>To improve decisions</p> Signup and view all the answers

    What is the difference between entrepreneurs and intrapreneurs?

    <p>Entrepreneurs start their own businesses, while intrapreneurs work in organizations</p> Signup and view all the answers

    What is the main reason managers do not search for all possible alternatives and evaluate potential consequences?

    <p>They do not have the time or money to do so</p> Signup and view all the answers

    What is the name of the strategy of searching for and choosing an acceptable response to problems and opportunities?

    <p>Satisficing</p> Signup and view all the answers

    What is one advantage of group decision making?

    <p>It is less likely to fall victim to bias</p> Signup and view all the answers

    What is the main difference between satisficing and optimizing?

    <p>Satisficing is used to find an acceptable solution, while optimizing is used to find the best solution</p> Signup and view all the answers

    Why do capable managers sometimes make bad decisions?

    <p>They do not have enough information to make good decisions</p> Signup and view all the answers

    What is the main benefit of evaluating possible courses of action?

    <p>It reduces the risk of making bad decisions</p> Signup and view all the answers

    What is the primary characteristic of nonprogrammed decision making?

    <p>It occurs in response to unusual, unpredictable opportunities and threats.</p> Signup and view all the answers

    What is intuition in the context of decision making?

    <p>Feelings, beliefs, and hunches that come readily to mind.</p> Signup and view all the answers

    What is the primary assumption of the Classical Model of decision making?

    <p>Decision makers are rational and objective.</p> Signup and view all the answers

    What is the primary goal of the Classical Model of decision making?

    <p>To choose the most appropriate course of action.</p> Signup and view all the answers

    What is an optimum decision in the context of the Classical Model?

    <p>The most desirable decision for the organization.</p> Signup and view all the answers

    What is the primary difference between reasoned judgment and intuition?

    <p>Reasoned judgment is more rational, while intuition is more emotional.</p> Signup and view all the answers

    What is the primary goal of a learning organization?

    <p>To maximize the ability of individuals and groups to think and behave creatively</p> Signup and view all the answers

    What is the definition of creativity in the context of decision-making?

    <p>The ability to discover original and novel ideas that lead to feasible alternative courses of action</p> Signup and view all the answers

    What is a key condition for promoting individual creativity?

    <p>No punishment for ideas that seem outlandish</p> Signup and view all the answers

    What is the primary purpose of brainstorming in promoting group creativity?

    <p>To generate and debate many alternatives</p> Signup and view all the answers

    What is a characteristic of a learning organization, according to Senge's principles?

    <p>An emphasis on experimentation and learning from mistakes</p> Signup and view all the answers

    What is a key step in the brainstorming process?

    <p>Generating and debating many alternatives</p> Signup and view all the answers

    What is a major limitation of brainstorming sessions?

    <p>Production Blocking due to the unstructured nature</p> Signup and view all the answers

    What is the primary difference between the Nominal Group Technique and the Delphi Technique?

    <p>One uses face-to-face meetings, while the other does not</p> Signup and view all the answers

    What is the primary goal of a social entrepreneur?

    <p>To improve society and wellbeing through creative solutions</p> Signup and view all the answers

    What is the primary role of an intrapreneur?

    <p>To develop new or improved products and better ways to make them</p> Signup and view all the answers

    What is entrepreneurship?

    <p>The mobilization of resources to take advantage of an opportunity to provide customers with new and improved goods and services</p> Signup and view all the answers

    What is the primary difference between an entrepreneur and a social entrepreneur?

    <p>The focus on profit versus social impact</p> Signup and view all the answers

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