Managerial Decision-Making Quiz
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Questions and Answers

According to the text, what is Step 1 of the decision-making process?

  • Identify Decision Criteria
  • Identifying the Problem (correct)
  • Allocate Weights to the Criteria
  • Develop Alternatives

    • What are decision criteria?

  • Factors that are important to resolving the problem (correct)
  • Factors that are not important to resolving the problem
  • Factors that are equally important to resolving the problem
  • Factors that are not relevant to resolving the problem

    • In Step 3 of the decision-making process, what is done with the decision criteria?

  • Criteria are evaluated and ranked
  • Criteria are ignored
  • Criteria are discarded
  • Weights are allocated to each criteria (correct)

    • What is Step 4 of the decision-making process?

    <p>Develop Alternatives</p> Signup and view all the answers

    In Step 5 of the decision-making process, what is done with the alternatives?

    <p>Alternatives are appraised for their strengths and weaknesses</p> Signup and view all the answers

    What is Step 6 of the decision-making process?

    <p>Select an Alternative</p> Signup and view all the answers

    What is Step 8 of the decision-making process?

    <p>Evaluate Decision Effectiveness</p> Signup and view all the answers

    Which one of the following is NOT an assumption of rational decision making?

    <p>The decision maker would select the alternative that maximizes the likelihood of achieving the goal.</p> Signup and view all the answers

    Which one of the following is a characteristic of bounded rationality?

    <p>Managers satisfice by accepting solutions that are 'good enough'.</p> Signup and view all the answers

    What is the phenomenon called when there is an increased commitment to a previous decision despite evidence that it may have been wrong?

    <p>Escalation of commitment</p> Signup and view all the answers

    Which one of the following is NOT a characteristic of intuitive decision making?

    <p>It relies on a systematic and thorough analysis of the problem.</p> Signup and view all the answers

    What percentage of managers and other organizational employees emphasized 'gut feeling' over cognitive problem solving and decision making?

    <p>30%</p> Signup and view all the answers

    What is the term used to describe the subconscious process of making decisions on the basis of experience and accumulated judgment?

    <p>Intuitive decision making</p> Signup and view all the answers

    What is the term used to describe accepting solutions that are 'good enough' rather than maximizing the outcome of a decision by considering all alternatives?

    <p>Bounded rationality</p> Signup and view all the answers

    Which type of decision is based on experience, feelings, and accumulated judgment?

    <p>Intuitive decision</p> Signup and view all the answers

    What is the term for decisions that are new or unusual and for which information is ambiguous or incomplete?

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

    Which type of decision can be handled by a routine approach?

    <p>Programmed decision</p> Signup and view all the answers

    What is the term for a series of interrelated sequential steps that a manager can use to respond to a well-structured problem?

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

    Which type of problem involves goals that are clear, familiar, and easily and completely defined?

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

    What is the term for a general guideline for making a decision about a structured problem?

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

    What is the term for decisions that are unique and nonrecurring?

    <p>Non-programmed decisions</p> Signup and view all the answers

    Which thinking style reflects a person's tendency to use external data/facts and process information through rational, logical thinking?

    <p>Linear thinking style</p> Signup and view all the answers

    Why is it important for managers to recognize that employees may have different decision-making styles?

    <p>To understand and respect different approaches to decision-making</p> Signup and view all the answers

    Which of the following is NOT one of the eight steps in the decision-making process?

    <p>Implementing the decision</p> Signup and view all the answers

    Which level of managers make decisions about weekly or monthly production schedules, problems that arise, pay raises, and disciplining employees?

    <p>Lower level managers</p> Signup and view all the answers

    What is the definition of a problem in the context of decision-making?

    <p>An obstacle that makes it difficult to achieve a desired goal or purpose</p> Signup and view all the answers

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

    <p>Identifying a problem</p> Signup and view all the answers

    Which one of the following is NOT a way managers make decisions?

    <p>Rational decision-making</p> Signup and view all the answers

    What is the comprehensive process of choosing among alternatives called?

    <p>Decision-making</p> Signup and view all the answers

    Which one of the following is NOT a step in the decision-making process?

    <p>Setting decision criteria</p> Signup and view all the answers

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