Exam 15: Decision Making

The bounded rationality framework contends that individuals make decisions under conditions of certainty.

Intuitive decision making often emerges from subconscious activity.

The distinguishing factor between programmed and nonprogrammed decisions is that:

Bounded rationality refers to:

Which of the following is the last step in rational decision making?

_____ decisions are made in response to recurring organizational problems that require individuals to follow established rules and procedures.

Which of the following statements best describes the political model of decision making?

Mary,a team leader,found that few of her team members' performance had been deteriorating.They had been coming late to work and had not been completing tasks on time.In order to improve her team's performance,Mary identified three options to deal with these underperformers: firing them,training them,or transferring them to another team.After these three options are identified,what is the next step Mary should pursue in rational decision making?

Which of the following is the first step in rational decision making?

Programmed decisions generally do not require a manager or higher-level employee to execute.

Vinita buys a stock assuming that she can make profit out of it.However,shortly thereafter the stock value drops and she loses a lot of money.Her financial planner thinks the stock value will drop further and advices her to sell the stock.However,she has lost so much money already and therefore she doesn't want to sell.Instead she holds onto the stock in hopes to regain her loss.Instead she loses more.This phenomena is referred to as:

Which of the following models should managers use while making tough calls?

Peter is a senior manager in an organization that is currently laying off its employees.It is Peter's responsibility to convey this message to the laid off employees.Harry is one among them with whom Peter had a conflict a year ago.Therefore,in an attempt to avoid any such conflicts again,Peter requested a human resources representative to convey the message instead.In this case,Peter uses the _____ heuristic.

The _____ heuristic contends that individuals tend to look for traits in another person or situation that correspond with previously formed stereotypes.

List the actions that can help managers "de-bias" their judgements.

Which of the following models does not view a decision process as a sequence of steps that begins with a problem and ends with a solution?

The status quo bias is best described as:

The act of choosing a solution that is good enough is called _____.

Differentiate between programmed and nonprogrammed decisions.

Confirmation bias means that people tend to seek information that disconfirms a decision before seeking information that confirms a decision.