Exam 9: Managerial Decision Making

Which of the following is the first step in the managerial decision making process?

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

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

Gerald's Groceries and Marty's Market decided to merge their operations, something neither company has tried before. This would be considered a nonprogrammed decision.

Which of the following is a decision-making technique in which people are assigned to express competing points of view?

Managers will frequently look for new information that contradicts their instincts or original point of view.

Explain the difference between programmed and nonprogrammed decisions and give an example of each.

When managers know which goals they wish to achieve, but information about alternatives and future events is incomplete, the condition of _____ exists.

Most managers settle for a _____ rather than a _____ solution.

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

The tendency of organizations to invest time and money in a solution despite strong evidence that is not appropriate is referred to as:

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

_____ means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.

The decision-maker must _____ once the problem has been recognized and analyzed.

The _____ style is often the style adopted by managers having a deep concern for others as individuals.

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

When managers ask questions such as "What is the state of disequilibrium affecting us?", they are in which stage of the managerial decision-making process?

A(n) _____ occurs when organizational accomplishment is less than established goals.

Rodney doesn't always realize that within his role as an air traffic controller, he must continuously perceive and process information based on knowledge and experience that he is not consciously aware of. This describes what type of decision-making?

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 _____.