Exam 3: Managing Decision Making

Decision making in response to opportunities occurs when managers search for ways to improve organizational performance to benefit customers,employees,and other stakeholder groups.

Which of the following is NOT one of the criteria used by managers to evaluate the pros and cons of alternative courses of action?

When Ford Canada limits its search for new suppliers to an existing set of alternatives known to the purchasing manager,they are using which decision-making strategy?

Canadian companies who locate in the Third world do not have to consider the host country's societal ethics.

Bounded rationality refers to the inability of managers to be completely rational when processing information.

A company that takes a defensive approach to social responsibility will comply with the law but not go above and beyond its requirements.

While ethical beliefs lead to the development of laws and regulations to prevent certain behaviours or encourage others,laws themselves can and do change or even disappear as ethical beliefs change.Explain,using an example,what this statement means.

When a manager performs a cost benefit analysis of the various alternatives he/she is considering,on which criteria for decision making is this manager focusing?

A manager's duty or obligation to make decisions that promotes the welfare and well-being of stakeholders and society,as a whole is known as:

Ethics help people determine moral responses to situations in which the best course of action is unclear.

A company with an obstructionist approach to social responsibility has a high social responsibility.

The ability to make sound decisions based on one's experience and immediate feelings about the information at hand is known as judgment.

Ordering basic office supplies by the office manager whenever the inventory on hand drops below a certain level,is an example of nonprogrammed decision making.

A decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action is known as:

The administrative model of decision making was developed by:

The administrative model of decision making recognizes that the assumptions underlying the rational model are realistic.

Individual ethics are derived from family,peers,and upbringing,but not personality and experience.

Uncertainty occurs when the outcomes of various actions can be reasonably predicted.

The tendency to see patterns in data where none exist is known as a confirmation bias.

Decision-making styles vary in terms of a person's way of thinking and on the tolerance for ambiguity.