Question 1

Satisficing is when managers make lightning-quick calculations of costs and benefits that lead to optimal decisions.

Accepted Answer

A) True 
 B)False

Question 2

Discuss the ways in which organizations can encourage and promote ethical behaviour.

Accepted Answer

To encourage ethical behaviour on the pa

Question 3

The ability to develop a sound opinion based on one's evaluation of the importance of the information at hand is known as:

Accepted Answer

A) Judgment 
B) Bounded rationality 
C) Heuristics 
D) Satisficing 
E) Intuition 
A) Judgment 
B) Bounded rationality 
C) Heuristics 
D) Satisficing 
E) Intuition

Question 4

Managers who use a high degree of intuition and have a low tolerance for ambiguity have a behavioural decision-making style.

Accepted Answer

A) True 
 B)False

Question 5

When a manager has trouble deciding what to do,they may be facing an ethical dilemma.

Accepted Answer

A) True 
 B)False

Question 6

One criterion for evaluating the pros and cons of alternative courses of action is "practicality".

Accepted Answer

A) True 
 B)False

Question 7

Managers who have a strong commitment to social responsibility,an eagerness to do more than the law requires and to use organizational resources to promote the interest of all organizational stakeholders is known as what type of approach to social responsibility?

Accepted Answer

A) Obstruction approach 
B) Defensive approach 
C) Accommodative approach 
D) Proactive approach 
E) Distributive justice 
A) Obstruction approach 
B) Defensive approach 
C) Accommodative approach 
D) Proactive approach 
E) Distributive justice

Question 8

Decision makers who seek and use information that is consistent with their prior beliefs and ignore information that contradicts those beliefs are suffering from:

Accepted Answer

A) Clustering bias 
B) Representative bias 
C) Prior hypothesis bias 
D) Illusion of control and overconfidence bias 
E) Systemic errors 
A) Clustering bias 
B) Representative bias 
C) Prior hypothesis bias 
D) Illusion of control and overconfidence bias 
E) Systemic errors

Question 9

Which of the following is the second step in the decision-making process?

Accepted Answer

A) Assess alternatives 
B) Identify decision criteria 
C) Choose from alternatives 
D) Recognize the need for a decision 
E) Learn from feedback 
A) Assess alternatives 
B) Identify decision criteria 
C) Choose from alternatives 
D) Recognize the need for a decision 
E) Learn from feedback

Question 10

When Walmart tried to use the same model that worked for them in the USA in the rest of the world,they were acting on which type of cognitive bias?

Accepted Answer

A) Systematic errors 
B) Representative bias 
C) Fundamental attribution error 
D) Illusion of control and overconfidence bias 
E) Prior hypothesis bias 
A) Systematic errors 
B) Representative bias 
C) Fundamental attribution error 
D) Illusion of control and overconfidence bias 
E) Prior hypothesis bias

Question 11

Satisficing is when managers fail to explore all the possible alternatives and choose one that only minimally solves the problem.

Accepted Answer

A) True 
 B)False

Question 12

Compare the approaches to social responsibility.

Accepted Answer

Approaches to social responsibilities ca

Question 13

When managers are making decisions where the outcomes of alternatives are not known,they are working under conditions of:

Accepted Answer

A) Risk 
B) Uncertainty 
C) Certainty 
D) Satisficing 
E) Bounded rationality 
A) Risk 
B) Uncertainty 
C) Certainty 
D) Satisficing 
E) Bounded rationality

Question 14

Decision making occurs in all of the following activities of managing,except:

Accepted Answer

A) Planning 
B) Organizing 
C) Directing 
D) Controlling 
E) Tasking 
A) Planning 
B) Organizing 
C) Directing 
D) Controlling 
E) Tasking

Question 15

The error of considering the most recent data to have the most relevance to a problem is known as a confirmation bias.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

A sustainability strategy has three elements.

Accepted Answer

A) True 
 B)False

Question 18

The classical or rational model is ________,which means that it specifies how decisions should be made.

Accepted Answer

A) heuristic 
B) prescriptive 
C) intuitive 
D) satisficing 
E) legal 
A) heuristic 
B) prescriptive 
C) intuitive 
D) satisficing 
E) legal

Question 19

Arguments against being socially responsible include all but which of the following?

Accepted Answer

A) Social responsibility benefits some stakeholders and not others 
B) Socially responsible businesses gain a reputation 
C) Business should only use its resources to increase profits 
D) Business should only use its resources to reward stockholders 
E) Business should only be responsible to stockholders 
A) Social responsibility benefits some stakeholders and not others 
B) Socially responsible businesses gain a reputation 
C) Business should only use its resources to increase profits 
D) Business should only use its resources to reward stockholders 
E) Business should only be responsible to stockholders

Question 20

A sustainability strategy has all of the following characteristics,except:

Accepted Answer

A) It must protect the environment 
B) It must promote social responsibility 
C) It must respect cultural differences 
D) It must have an economic benefit 
E) It relies on programmed decision making 
A) It must protect the environment 
B) It must promote social responsibility 
C) It must respect cultural differences 
D) It must have an economic benefit 
E) It relies on programmed decision making

Satisficing is when managers make lightning-quick calculations of costs and benefits that lead to optimal decisions.

Discuss the ways in which organizations can encourage and promote ethical behaviour.

The ability to develop a sound opinion based on one's evaluation of the importance of the information at hand is known as:

Managers who use a high degree of intuition and have a low tolerance for ambiguity have a behavioural decision-making style.

When a manager has trouble deciding what to do,they may be facing an ethical dilemma.

One criterion for evaluating the pros and cons of alternative courses of action is "practicality".

Managers who have a strong commitment to social responsibility,an eagerness to do more than the law requires and to use organizational resources to promote the interest of all organizational stakeholders is known as what type of approach to social responsibility?

Decision makers who seek and use information that is consistent with their prior beliefs and ignore information that contradicts those beliefs are suffering from:

Which of the following is the second step in the decision-making process?

When Walmart tried to use the same model that worked for them in the USA in the rest of the world,they were acting on which type of cognitive bias?

Satisficing is when managers fail to explore all the possible alternatives and choose one that only minimally solves the problem.

Compare the approaches to social responsibility.

When managers are making decisions where the outcomes of alternatives are not known,they are working under conditions of:

Decision making occurs in all of the following activities of managing,except:

The error of considering the most recent data to have the most relevance to a problem is known as a confirmation bias.

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

A sustainability strategy has three elements.

The classical or rational model is ________,which means that it specifies how decisions should be made.

Arguments against being socially responsible include all but which of the following?

A sustainability strategy has all of the following characteristics,except:

Managers and Managing

Managing the Organizational Environment

Managing Planning and Strategy

Managing Organizational Structure

Managing Communication and Information Technology IT

Managing Human Resources

Managing Motivation

Managing Leadership

Managing Teams

Managing Control and Operations

Managing Change

Filters

Exam 3: Managing Decision Making

Satisficing is when managers make lightning-quick calculations of costs and benefits that lead to optimal decisions.

Discuss the ways in which organizations can encourage and promote ethical behaviour.

The ability to develop a sound opinion based on one's evaluation of the importance of the information at hand is known as:

Managers who use a high degree of intuition and have a low tolerance for ambiguity have a behavioural decision-making style.

When a manager has trouble deciding what to do,they may be facing an ethical dilemma.

One criterion for evaluating the pros and cons of alternative courses of action is "practicality".

Managers who have a strong commitment to social responsibility,an eagerness to do more than the law requires and to use organizational resources to promote the interest of all organizational stakeholders is known as what type of approach to social responsibility?

Decision makers who seek and use information that is consistent with their prior beliefs and ignore information that contradicts those beliefs are suffering from:

Which of the following is the second step in the decision-making process?

When Walmart tried to use the same model that worked for them in the USA in the rest of the world,they were acting on which type of cognitive bias?

Satisficing is when managers fail to explore all the possible alternatives and choose one that only minimally solves the problem.

Compare the approaches to social responsibility.

When managers are making decisions where the outcomes of alternatives are not known,they are working under conditions of:

Decision making occurs in all of the following activities of managing,except:

The error of considering the most recent data to have the most relevance to a problem is known as a confirmation bias.

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

A sustainability strategy has three elements.

The classical or rational model is ________,which means that it specifies how decisions should be made.

Arguments against being socially responsible include all but which of the following?

A sustainability strategy has all of the following characteristics,except:

Managers and Managing

Managing the Organizational Environment

Managing Planning and Strategy

Managing Organizational Structure

Managing Communication and Information Technology IT

Managing Human Resources

Managing Motivation

Managing Leadership

Managing Teams

Managing Control and Operations

Managing Change

Filters