Exam 6: Managerial Decision Making

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Normative decision theory recognizes that managers have only limited time and cognitive ability and therefore their decisions are characterized by bounded rationality.

(True/False)

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Question 161

Most bad decisions are errors in judgment that originate in the human mind's limited capacity and in the natural biases of the manager.

(True/False)

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Question 162

Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

(True/False)

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Question 163

List four of the eight questions Kepner and Tregoe recommend that managers ask when diagnosing and analyzing causes.

(Essay)

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Question 164

Which of the following means that a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to chance?

(Multiple Choice)

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Question 165

The essence of________ is to choose the first solution available.

(Multiple Choice)

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Question 166

According to both research and managerial experience, intuitive decisions are best and always work out.

(True/False)

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Question 167

Showing 161 - 167 of 167

Normative decision theory recognizes that managers have only limited time and cognitive ability and therefore their decisions are characterized by bounded rationality.

Most bad decisions are errors in judgment that originate in the human mind's limited capacity and in the natural biases of the manager.

Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

List four of the eight questions Kepner and Tregoe recommend that managers ask when diagnosing and analyzing causes.

Which of the following means that a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to chance?

The essence of________ is to choose the first solution available.

According to both research and managerial experience, intuitive decisions are best and always work out.

Innovative Management for a Changing World

The Environment and Corporate Culture

Managing in a Global Environment

Managing Ethics and Social Responsibility

Managerial Planning and Goal Setting

Designing Adaptive Organizations

Managing Change and Innovation

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Understanding Individual Behavior

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Motivating Employees

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Leading Teams

Managing Quality and Performance

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