30 Questions
What is the process of responding to opportunities and threats by analyzing options and making determinations about specific organizational goals and courses of action?
Managerial decision making
What type of decision making follows established rules or guidelines?
Programmed decision making
What is a characteristic of programmed decision making?
Managers have made the same decision many times before
What is the goal of managerial decision making?
To respond to opportunities and threats
What is the role of organizational learning and creativity in managerial decision making?
To improve decisions
What is the difference between entrepreneurs and intrapreneurs?
Entrepreneurs start their own businesses, while intrapreneurs work in organizations
What is the main reason managers do not search for all possible alternatives and evaluate potential consequences?
They do not have the time or money to do so
What is the name of the strategy of searching for and choosing an acceptable response to problems and opportunities?
Satisficing
What is one advantage of group decision making?
It is less likely to fall victim to bias
What is the main difference between satisficing and optimizing?
Satisficing is used to find an acceptable solution, while optimizing is used to find the best solution
Why do capable managers sometimes make bad decisions?
They do not have enough information to make good decisions
What is the main benefit of evaluating possible courses of action?
It reduces the risk of making bad decisions
What is the primary characteristic of nonprogrammed decision making?
It occurs in response to unusual, unpredictable opportunities and threats.
What is intuition in the context of decision making?
Feelings, beliefs, and hunches that come readily to mind.
What is the primary assumption of the Classical Model of decision making?
Decision makers are rational and objective.
What is the primary goal of the Classical Model of decision making?
To choose the most appropriate course of action.
What is an optimum decision in the context of the Classical Model?
The most desirable decision for the organization.
What is the primary difference between reasoned judgment and intuition?
Reasoned judgment is more rational, while intuition is more emotional.
What is the primary goal of a learning organization?
To maximize the ability of individuals and groups to think and behave creatively
What is the definition of creativity in the context of decision-making?
The ability to discover original and novel ideas that lead to feasible alternative courses of action
What is a key condition for promoting individual creativity?
No punishment for ideas that seem outlandish
What is the primary purpose of brainstorming in promoting group creativity?
To generate and debate many alternatives
What is a characteristic of a learning organization, according to Senge's principles?
An emphasis on experimentation and learning from mistakes
What is a key step in the brainstorming process?
Generating and debating many alternatives
What is a major limitation of brainstorming sessions?
Production Blocking due to the unstructured nature
What is the primary difference between the Nominal Group Technique and the Delphi Technique?
One uses face-to-face meetings, while the other does not
What is the primary goal of a social entrepreneur?
To improve society and wellbeing through creative solutions
What is the primary role of an intrapreneur?
To develop new or improved products and better ways to make them
What is entrepreneurship?
The mobilization of resources to take advantage of an opportunity to provide customers with new and improved goods and services
What is the primary difference between an entrepreneur and a social entrepreneur?
The focus on profit versus social impact
Test your understanding of managerial decision making, programmed and nonprogrammed decisions, and the steps to make the best decisions. Learn about the advantages and disadvantages of group decision making and techniques to improve it.
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