Decision Making Heuristics Quiz

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12 Questions

Which factor is NOT included in the 4 M's of Management?

Management Body

Which skill is mentioned in the text as essential for a manager to identify key factors?

Analytical skills

Is it true that the amount of time and efforts given for planning and organizing the activities are equal at all levels of management?

False

What is the most important resource of any organization according to the text?

Manpower

What is a heuristic?

A shortcut or rule of thumb that is used for decision making

Which of the following is NOT assumed in a rational decision?

A clear and unambiguous problem

Systems are primarily used to help what kinds of decision makers?

Lower-level managers

How often do managers typically use intuitive decision making?

More than half of the time

Who first used the concept of Division of Labour?

Adam Smith

Is the statement 'A leader is always a perfectionist' true or false according to the text?

False

Which management theorist defined 'Division of Labour' as the division of work among different individuals?

Adam Smith

What does 'Division of Labour' in management principle involve?

Separation of Labour

Test your knowledge on decision making heuristics with this quiz. Explore concepts like discrepancies between the ideal and practical, sources of irritation, and attention-seeking factors. Determine whether statements related to rational decision-making are true or false.

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