Exam 9: Managerial Decision Making

Differences among people with respect to how they perceive problems and make decisions is called _________________________.

A(n) ____________________ approach describes how managers actually make decisions, not how they should.

__________ is the willingness to undertake risk with the opportunity to increase one's return.

Tyke, a production manager at Kristal's Kites, 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

Which of these leader participation styles from the Vroom-Jago model is a highly autocratic decision style?

Which of these styles is adopted by managers having a deep concern for others as individuals?

__________ is a choice made from available alternatives.

__________ means that managers know which goals they wish to achieve, but information about alternatives and future events is incomplete.

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

Managers with an analytical decision style like to consider complex solutions based on as much data as they can gather.

The concept that people have the time and cognitive ability to process only a limited amount of information on which to base decisions is known as

____________________ means that all the information the decision-maker needs is fully available.

According to MANAGER'S SHOPTALK in Chapter 9, all of the following are cognitive biases that can affect manager's judgment.

The classical model of decision making is based on __________ assumptions.

Tasha 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?

Uncertainty 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 administrative model of decision making describes how manager actually make decisions in difficult situations.

The classical decision making model assumes that the decision-maker is rational, and makes the optimal decision each time.

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

The essence of __________ is to choose the first solution available.