Management Decision-Making Quiz

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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?

Unstructured decisions (B) Signup and view all the answers

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

Decisions made by computer algorithms (C) Signup and view all the answers

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

Structured decisions (B) Signup and view all the answers

Business intelligence primarily involves which of the following?

Collecting, storing, and analyzing data (D) Signup and view all the answers

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

Budgeting techniques (D) Signup and view all the answers

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

Intelligence (C) Signup and view all the answers

What role do business intelligence vendors play?

They create and sell business intelligence solutions (D) Signup and view all the answers

Operational managers typically make what type of decisions?

Structured decisions (C) Signup and view all the answers

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

High-speed computer trading (C) Signup and view all the answers

Which group primarily makes unstructured decisions within an organization?

Senior managers (A) Signup and view all the answers

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

Exploring solutions to the problem (C) Signup and view all the answers

How do middle managers approach decision-making?

Primarily structured decisions with some unstructured components (A) Signup and view all the answers

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

Making the solution work and monitoring its effectiveness (C) Signup and view all the answers

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

Facilitating informal knowledge sharing (B) Signup and view all the answers

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

Knowledge work systems (KWS) (A) Signup and view all the answers

What role do chief knowledge officers play within an organization?

Acquiring and managing organizational knowledge (A) Signup and view all the answers

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

Limiting access to upper management only (A) Signup and view all the answers

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

Expert systems (C) Signup and view all the answers

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

To serve as an interface between BI tools and the user. (A) Signup and view all the answers

Which of the following best describes tacit knowledge?

Knowledge that is specific and situated in context. (A) Signup and view all the answers

What is meant by the knowledge management value chain?

A series of steps that transform data into usable knowledge. (A) Signup and view all the answers

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

Physical assets (A) Signup and view all the answers

Which method is NOT typically associated with knowledge dissemination?

Document management systems (D) Signup and view all the answers

How does knowledge storage contribute to knowledge management?

By making knowledge easily accessible and organized. (C) Signup and view all the answers

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

They are key to effective and efficient practices. (C) Signup and view all the answers

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

Creating knowledge from data. (B) Signup and view all the answers

What role does organizational learning play in a business?

It aids in gaining experience through various methods. (C) Signup and view all the answers

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

Extraordinary return on investment (ROI). (A) Signup and view all the answers

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

What-if analysis (A) Signup and view all the answers

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

Performance outcomes (C) Signup and view all the answers

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

Employee engagement (D) Signup and view all the answers

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

Sensitivity analysis (C) Signup and view all the answers

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

Internal and external data (A) Signup and view all the answers

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

To translate strategies into operational targets (D) Signup and view all the answers

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

Multidimensional analysis (D) Signup and view all the answers

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

To measure progress toward targets (C) Signup and view all the answers