Management Decision-Making Quiz
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Questions and Answers

Which of the following are functions in the classical model of management?

  • Controlling (correct)
  • Negotiating
  • Evaluating
  • Coordinating (correct)

    • What is a key factor that affects the quality of decisions made by managers?

  • Information quality (correct)
  • Team dynamics
  • Managerial experience
  • Information overload

    • What challenges can lead to ineffective decisions within organizations?

  • Innovative strategies
  • Collaborative culture
  • Improved communication
  • Organizational inertia and politics (correct)

    • What type of decision requires the decision maker to provide judgment and insight?

    <p>Unstructured decisions</p> Signup and view all the answers

    Which of the following describes high-velocity automated decision making?

    <p>Decisions made by computer algorithms</p> Signup and view all the answers

    Which type of decision is characterized by having a definite procedure for handling?

    <p>Structured decisions</p> Signup and view all the answers

    Business intelligence primarily involves which of the following?

    <p>Collecting, storing, and analyzing data</p> Signup and view all the answers

    Which of the following is NOT a tool or technique of business analytics?

    <p>Budgeting techniques</p> Signup and view all the answers

    What is the first stage in the decision-making process?

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

    What role do business intelligence vendors play?

    <p>They create and sell business intelligence solutions</p> Signup and view all the answers

    Operational managers typically make what type of decisions?

    <p>Structured decisions</p> Signup and view all the answers

    What is an example of high-velocity automated decision making?

    <p>High-speed computer trading</p> Signup and view all the answers

    Which group primarily makes unstructured decisions within an organization?

    <p>Senior managers</p> Signup and view all the answers

    In the decision-making process, what is the purpose of the Design stage?

    <p>Exploring solutions to the problem</p> Signup and view all the answers

    How do middle managers approach decision-making?

    <p>Primarily structured decisions with some unstructured components</p> Signup and view all the answers

    What is involved in the Implementation stage of decision-making?

    <p>Making the solution work and monitoring its effectiveness</p> Signup and view all the answers

    What is a primary function of communities of practice (COPs)?

    <p>Facilitating informal knowledge sharing</p> Signup and view all the answers

    Which type of knowledge management system is specifically designed for knowledge workers like engineers and scientists?

    <p>Knowledge work systems (KWS)</p> Signup and view all the answers

    What role do chief knowledge officers play within an organization?

    <p>Acquiring and managing organizational knowledge</p> Signup and view all the answers

    What is NOT a characteristic of enterprise-wide knowledge management systems?

    <p>Limiting access to upper management only</p> Signup and view all the answers

    Which of the following is a technique used to discover knowledge within an organization?

    <p>Expert systems</p> Signup and view all the answers

    What is a primary function of a dashboard in a business context?

    <p>To serve as an interface between BI tools and the user.</p> Signup and view all the answers

    Which of the following best describes tacit knowledge?

    <p>Knowledge that is specific and situated in context.</p> Signup and view all the answers

    What is meant by the knowledge management value chain?

    <p>A series of steps that transform data into usable knowledge.</p> Signup and view all the answers

    Which of the following is NOT considered a key organizational asset in knowledge management?

    <p>Physical assets</p> Signup and view all the answers

    Which method is NOT typically associated with knowledge dissemination?

    <p>Document management systems</p> Signup and view all the answers

    How does knowledge storage contribute to knowledge management?

    <p>By making knowledge easily accessible and organized.</p> Signup and view all the answers

    What is a unique feature of knowledge-based core competencies?

    <p>They are key to effective and efficient practices.</p> Signup and view all the answers

    Which of the following is considered a part of knowledge acquisition?

    <p>Creating knowledge from data.</p> Signup and view all the answers

    What role does organizational learning play in a business?

    <p>It aids in gaining experience through various methods.</p> Signup and view all the answers

    Which of the following is a consequence of well-executed knowledge management projects?

    <p>Extraordinary return on investment (ROI).</p> Signup and view all the answers

    Which analysis type allows users to determine how changes in one variable affect another in decision-support systems?

    <p>What-if analysis</p> Signup and view all the answers

    What does the balanced scorecard method measure across its four dimensions?

    <p>Performance outcomes</p> Signup and view all the answers

    Which component is NOT one of the four dimensions measured by the balanced scorecard?

    <p>Employee engagement</p> Signup and view all the answers

    In decision-support systems, which analysis focuses on understanding the effects of variability in input parameters?

    <p>Sensitivity analysis</p> Signup and view all the answers

    What type of data is typically included in the data for executive support systems (ESS)?

    <p>Internal and external data</p> Signup and view all the answers

    What is the primary purpose of business performance management (BPM)?

    <p>To translate strategies into operational targets</p> Signup and view all the answers

    Which of the following is a method used in decision-support systems for semi-structured decisions?

    <p>Multidimensional analysis</p> Signup and view all the answers

    What is a key performance indicator (KPI) used for in the balanced scorecard method?

    <p>To measure progress toward targets</p> Signup and view all the answers

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