Exam 11: Decision Making

________ has its greatest impact on uncertain, ambiguous decisions of the type that are especially crucial for organizations.

A decision strategy that relies on limited information and that reflects time constraints and political considerations is known as

What is most likely to lead one to adopt a simplified, short-cut decision-making strategy that is likely to violate the rational model?

Sunk costs refer to resources that were knowingly committed to a failing course of action.

Permanently lost resources that often enter inappropriately into subsequent decision making are called ________.

Moneyball is an example of analytics.

A meta-analysis is a technique used when multiple independent research studies are summarized in a systematic review.

When he heard that turnover was increasing, the human resource manager immediately told the president that salaries would have to be raised.Unfortunately, low pay wasn't the cause of the turnover.Which decision-making error did the manager commit?

What bias has been implicated in costly and inefficient duplication of organizational efforts, such as the failure to reuse existing software developed by outside sources?

Is it possible for a manager to have too much information when faced with an ill-structured problem? Explain.

A negative mood promotes more creative, intuitive decision making.

The tendency for a group to make a less risky decision than its individual members favour is called the ________.

Escalation of commitment to a losing course of action could be an example of the improper treatment of sunk costs.

Confirmation bias occurs during problem identification.

Usually the ________ used in crowdsourcing is outside of the organization in which a decision is being made.

A person appointed to identify and challenge the weaknesses of a proposed plan or strategy is known as a(n)________.

Groupthink is defined as the tendency for a group to reach a unanimous decision.

Crowdsourcing can be used to identify a problem.

Crowdsourcing is best employed when in-house ________ is lacking.

Programs should be used to solve ill-structured problems.