Exam 6: Managerial Decision Making

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If your instructor has an attendance policy, she/he is using an:

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A

Explain how a manager selects the desired decision in the managerial decision making process.

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The manager tries to select the choice with the least amount of risk and uncertainty.
Because some risk is inherent for most nonprogrammed decisions, managers try to gauge prospects for success. Under conditions of uncertainty, they might have to rely on their intuition and experience to estimate whether a given course of action is likely to succeed. Basing choices on overall goals and values can also effectively guide selection of alternatives. Decision about how to cope should be selected by relying on the company's values and goals of treatment of employees and building long-term relationships. Making choices depends on managers' personality factors and willingness to accept risk and uncertainty.

The________ is the individual who is assigned the role of challenging assumptions made by the group.

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________decisions involve situations that have occurred often enough to enable decision rules to be developed and applied in the future.

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Brainstorming uses a face-to-face interactive group to spontaneously suggest a wide range of alternatives for decision making.

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Bierderlack has a policy that states that more than three absences in a six-month period shall result in a suspension. Colleen, the manager, has just decided to suspend one of her shift employees for violating this policy. This is an example of:

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Making a choice is the most significant part of the decision-making process.

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All of the following are characteristics of the classical decision making model except:

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Administrative and political decision making procedures and intuition have been associated with high performance in unstable environments in which decisions must be made rapidly and under more difficult conditions.

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Shirley works in the human resource department at Turtle Shells, Inc. She believes she is seeing an increase in drinking problems among the workforce. She thinks she needs to investigate further. She is at what stage of the managerial decision making process?

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________means that decision-makers choose the first solution alternative that satisfies minimal decision criteria.

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Riley is a manager at the Tinker Tools. She is expected to make decisions that are in the organization's best economic interests. Her decisions should be based on which of the following models?

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The formulation stage involves the use of managerial, administrative, and persuasive abilities to ensure that the chosen alternative is carried out.

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When managers base decisions on what has worked in the past and fail to explore new options, they are:

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Which of the following defines a technique that uses a face-to-face group to spontaneously suggest a broad range of alternatives for decision making?

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Two area banks, Bank A and Bank B, decided to merge their operations. This is an example of a:

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An ________approach describes how managers actually make decisions, not how they should.

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The step in the decision making process in which managers analyze the underlying causal factors associated with the situation is called________ .

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Which style is used by people who prefer simple, clear-cut solutions to problems?

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During the fallout of the global financial crisis of the late 2000s, finance companies had to make important decisions in a highly ambiguous environment. The decision to buyout failed banks could best be described as what type of decision?

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