Decision Making Principles and Challenges Quiz

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What is rational decision-making characterized by?

Emotional and impulsive choices

Logical and consistent choices while maximizing value (correct)

Hasty and uninformed choices

Random and arbitrary choices

What is decision making?

A process of randomly choosing an alternative

A process of avoiding choices and problems

A process of identifying and selecting a course of action to solve a problem (correct)

A process of delegating choices to organizational members

What does bounded rationality refer to?

Random decision-making without any boundaries

Irrational decision-making unconstrained by individual limitations

Rational decision-making limited by an individual's ability to process information (correct)

Emotional decision-making unconstrained by logic

Who makes decisions in an organization according to the text?

All organizational members Signup and view all the answers

What is satisfice in the context of decision making?

Accepting solutions that are satisfactory and sufficient Signup and view all the answers

Define decision making.

Decision making is a process of identifying and selecting a course of action or alternative to solve a specific problem. Signup and view all the answers

Identify the principles of decision making.

The principles of decision making include rational decision-making, bounded rationality, and satisfice. Signup and view all the answers

Explain and differentiate group in decision making.

Group decision making involves multiple individuals contributing to the decision-making process, while individual decision making is made by a single person. Group decision making can involve various methods such as voting, brainstorming, and consensus building. Signup and view all the answers

Explain the types and conditions of decision making.

The types of decision making include rational decision-making, bounded rationality, and satisfice. The conditions of decision making involve evaluating alternatives and making a summary from the list of alternatives. Signup and view all the answers

Elaborate on the challenges in decision making process.

The challenges in the decision-making process can include limited ability to process information (bounded rationality), the need to act rationally, and the acceptance of satisfactory solutions (satisfice). Signup and view all the answers