Exam 6: Managerial Decision Making

Programmed decisions are made in response to ____ organizational problems.

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?

The political model represents an "ideal" model of decision making that is often unattainable by real people in real organizations.

The behavioral style is often adopted by managers who like to consider complex solutions based on as much data as they can gather.

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?

For a programmed decision,

The main difference between risk and uncertainty is that with risk you know the probabilities of the outcomes.

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

Most people underestimate their ability to predict uncertain outcomes.

The growth of quantitative decision techniques that use computers has reduced the use of the classical approach.

The political model consists of vague problems and goals,limited information about alternatives and their outcomes,and a satisficing choice for resolving problems using intuition.

A highly ambiguous situation can create what is sometimes called a wicked decision problem.

Mark,a production manager at Kaylie's Kookware,recently chose to schedule his workers to work overtime.His alternative was to hire more workers.He is now monitoring the consequences of his choice.This is an example of

____________________ is the process of forming alliances among managers.

Good intuitive decision making is based on an ability to recognize patterns at lightning speed.

Which approach defines how a decision-maker should make decisions?

____ is a vital part of good management because decisions determine how the organization solves its problems,allocates resources,and accomplishes its goals.

Genna is collecting data on how well the organization has done since their new strategy was implemented.She is in what stage of the managerial decision making process?

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

The rapid pace of today's business environment requires only top management to make decisions and have the information,skills,and freedom they need to respond immediately to problems and questions.