34 Questions
What distinguishes problem solving from decision-making based on the text?
Problem solving involves finding the cause of a deviation, while decision-making involves choosing a solution based on judgment.
Which of the following is a key aspect of problem-solving according to the text?
Analyzing data and arriving at a preliminary decision
In the problem-solving process, what is the critical step according to the text?
Identifying the problem
Which statement best describes decision-making's relationship with problem-solving based on the text?
Decision-making is often a part of problem-solving.
What is the primary goal of problem-solving according to the text?
Finding the best solution
Which characteristic is unique to problem-solving compared to decision-making?
Asking questions and brainstorming solutions
Which brainstorming technique involves creating illustrations of ideas in hierarchical layouts?
Mind Mapping
What does SWOT analysis help identify?
The strengths and weaknesses of a business
Which technique is useful for illustrating processes and workflows?
Flowcharts
In rapid ideation, what do participants do after writing down potential solutions?
Review the solutions as a team
What is the purpose of pairwise comparison as a method?
Weighting and scoring alternatives
Which decision-making structure includes input from a variety of opinions?
Collaborative decision-making
What does the Analytic Hierarchy Process (AHP) involve in decision-making?
Scoring alternatives based on criteria weighting
Why is flowchart creation helpful in problem-solving?
To organize ideas and design step-by-step solutions
'Strengths' in a SWOT analysis refer to what aspects of a business?
'Characteristics that give it advantages over its competitors'
'Immediate and long-term results' should be considered when evaluating what?
Weighing possible solutions
What is the purpose of using a Pareto chart in problem-solving?
To prioritize problems that need attention
In the 5 Why method, what is the purpose of repeatedly asking 'why'?
To identify the true cause of an issue
What is the main function of a fishbone diagram in problem-solving?
To categorize the suspected causes of an issue
How does a scatter plot diagram complement a cause and effect diagram in problem-solving?
By visualizing the relationship between two variables
What is the primary focus of Failure Mode and Effects Analysis (FMEA) in problem-solving?
Identifying possible failures that pose the greatest risk
What is the main objective of fault tree analysis in problem-solving?
To visually represent the possible causes of a problem
What is the underlying principle behind using a Pareto chart in quality management?
80/20 rule where 80% of inputs cause 20% of results
How does brainstorming contribute to formulating possible solutions in problem-solving?
'By generating different ideas and options
What is the main difference between vote decision-making and consensus-based decision-making?
Vote decision-making involves stakeholders voting on a decision, while consensus-based decision-making involves attempts to agree on a decision by all stakeholders.
Why is hindsight bias detrimental in decision-making?
It results in individuals believing they predicted the outcome of a situation in retrospect.
How can one overcome the anchoring bias in decision-making?
By conducting thorough research and analysis before making decisions.
What skills are essential for making fact-based decisions in the decision-making process?
Analytical skills
What bias occurs when an analyst becomes overly optimistic about a project due to client enthusiasm?
Volitional Fallacy
Why are collaboration skills important in decision-making?
To take into account multiple perspectives and find solutions together.
Which bias involves using first impressions to make decisions about others?
Halo Effect
How does survivorship bias influence decision-making?
By basing decisions on selective evidence from successful outcomes.
In decision-making, what role do leadership skills typically play?
To make the final decision that aligns with team perspectives.
What is a key difference between creativity skills and analytical skills in decision-making?
Analytical skills involve collecting information, while creativity skills involve generating original ideas.
Explore the unique role of a real estate consultant in problem solving. Learn about the historical nature of problems, the analytical process of finding causes, and making judgment calls along the way to identify potential solutions.
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