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 (B)</p> Signup and view all the answers

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

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

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

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

Business intelligence primarily involves which of the following?

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

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

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

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

<p>Intelligence (C)</p> Signup and view all the answers

What role do business intelligence vendors play?

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

Operational managers typically make what type of decisions?

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

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

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

Which group primarily makes unstructured decisions within an organization?

<p>Senior managers (A)</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 (C)</p> Signup and view all the answers

How do middle managers approach decision-making?

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

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

<p>Facilitating informal knowledge sharing (B)</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) (A)</p> Signup and view all the answers

What role do chief knowledge officers play within an organization?

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

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

<p>Expert systems (C)</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. (A)</p> Signup and view all the answers

Which of the following best describes tacit knowledge?

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

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

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

Which method is NOT typically associated with knowledge dissemination?

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

How does knowledge storage contribute to knowledge management?

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

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

<p>Creating knowledge from data. (B)</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. (C)</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). (A)</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 (A)</p> Signup and view all the answers

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

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

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

<p>Employee engagement (D)</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 (C)</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 (A)</p> Signup and view all the answers

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

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

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