Podcast
Questions and Answers
Which of the following is the definition of decision making?
Which of the following is the definition of decision making?
- The act of making a choice without considering alternatives
- The act of choosing one alternative from among a set of alternatives (correct)
- The act of making a decision based on personal preferences
- The act of making a random choice
What is the main objective of an effective decision?
What is the main objective of an effective decision?
- To make quick decisions without considering long-term implications
- To minimize risks and uncertainties
- To optimize some set of factors such as profits, sales, employee welfare, and market share (correct)
- To make decisions based solely on intuition
Which of the following is an example of a programmed decision?
Which of the following is an example of a programmed decision?
- Choosing a vacation destination
- Deciding to invest in a new business venture
- Determining the pricing strategy for a new product
- Starting your car in the morning (correct)
What distinguishes a nonprogrammed decision from a programmed decision?
What distinguishes a nonprogrammed decision from a programmed decision?
What are the sources of complexity for today's managerial decision makers?
What are the sources of complexity for today's managerial decision makers?
Which type of decision is relatively unstructured and occurs much less often than a programmed decision?
Which type of decision is relatively unstructured and occurs much less often than a programmed decision?
What is the process of recognizing and defining the nature of a decision situation, identifying alternatives, choosing the 'best' alternative, and putting it into practice called?
What is the process of recognizing and defining the nature of a decision situation, identifying alternatives, choosing the 'best' alternative, and putting it into practice called?
Which type of decision is a fairly structured decision or recurs with some frequency or both?
Which type of decision is a fairly structured decision or recurs with some frequency or both?
What are some factors that an effective decision optimizes?
What are some factors that an effective decision optimizes?
What types of decisions do managers make?
What types of decisions do managers make?
