Question 1

A manager who has a high level of risk propensity is likely to:

Accepted Answer

A)  make decisions quickly. 
B)  avoid risks. 
C)  spend a lot of time evaluating alternatives. 
D)  be wary of making a wrong choice. 
E)  rely heavily on mathematical analysis. 
A)  make decisions quickly. 
B)  avoid risks. 
C)  spend a lot of time evaluating alternatives. 
D)  be wary of making a wrong choice. 
E)  rely heavily on mathematical analysis.

Question 2

According to the classical decision model, managers:

Accepted Answer

A)  evaluate all aspects of a decision situation logically and rationally. 
B)  are inefficient at eliminating uncertainty. 
C)  never have adequate information about decision situations. 
D)  never make errors even under uncertain conditions. 
E)  can never assess alternatives appropriately. 
A)  evaluate all aspects of a decision situation logically and rationally. 
B)  are inefficient at eliminating uncertainty. 
C)  never have adequate information about decision situations. 
D)  never make errors even under uncertain conditions. 
E)  can never assess alternatives appropriately.

Question 3

_____ is the extent to which a decision maker is willing to gamble when making a decision.

Accepted Answer

Risk propensity
Risk propensit

Question 4

In the rational decision-making process, optimization means:

Accepted Answer

A)  identifying obvious, standard alternatives. 
B)  choosing the alternative with the best overall expected outcomes. 
C)  gathering the most complete information before making the decision. 
D)  developing the maximum number of creative, innovative alternatives. 
E)  choosing an alternative that is feasible even if it is not satisfactory or has undesirable consequences. 
A)  identifying obvious, standard alternatives. 
B)  choosing the alternative with the best overall expected outcomes. 
C)  gathering the most complete information before making the decision. 
D)  developing the maximum number of creative, innovative alternatives. 
E)  choosing an alternative that is feasible even if it is not satisfactory or has undesirable consequences.

Question 5

Which of the following statements is true in the context of selecting the best alternative?

Accepted Answer

A)  The decision maker can only select one best alternative. 
B)  The decision maker can develop subjective estimates and weights for choosing an alternative. 
C)  The decision maker must choose the alternative that involves the most costs. 
D)  The decision maker must only stick to completely rational, mathematical analysis while selecting an alternative. 
E)  The decision maker can choose an alternative that does not pass the consequence, satisfactoriness, and feasibility test. 
A)  The decision maker can only select one best alternative. 
B)  The decision maker can develop subjective estimates and weights for choosing an alternative. 
C)  The decision maker must choose the alternative that involves the most costs. 
D)  The decision maker must only stick to completely rational, mathematical analysis while selecting an alternative. 
E)  The decision maker can choose an alternative that does not pass the consequence, satisfactoriness, and feasibility test.

Question 6

When decision making is under a condition of uncertainty:

Accepted Answer

A)  the alternatives are not known. 
B)  no ambiguity is involved. 
C)  errors are least likely to occur. 
D)  the consequences of solutions are known. 
E)  the decision situation is simple. 
A)  the alternatives are not known. 
B)  no ambiguity is involved. 
C)  errors are least likely to occur. 
D)  the consequences of solutions are known. 
E)  the decision situation is simple.

Question 7

Which of the following statements is true about the administrative model of decision making?

Accepted Answer

A)  It suggests that political forces do not exist in business scenarios. 
B)  It suggests that managers may not always make decisions that best serve the interests of their organizations. 
C)  It suggests that managers use a blend of subjective knowledge and analysis to choose the best alternative. 
D)  It suggests that decisions should only be made individually and not in groups. 
E)  It suggests that decisions made by groups are better than decisions made by individuals. 
A)  It suggests that political forces do not exist in business scenarios. 
B)  It suggests that managers may not always make decisions that best serve the interests of their organizations. 
C)  It suggests that managers use a blend of subjective knowledge and analysis to choose the best alternative. 
D)  It suggests that decisions should only be made individually and not in groups. 
E)  It suggests that decisions made by groups are better than decisions made by individuals.

Question 8

Managers sometimes decide to do something because it feels right or they have a hunch. This is an example of using _____ in decision making.

Accepted Answer

A)  satisficing 
B)  rationality 
C)  intuition 
D)  optimization 
E)  logic 
A)  satisficing 
B)  rationality 
C)  intuition 
D)  optimization 
E)  logic

Question 9

In which step of the rational decision-making model does the decision maker test the feasibility and satisfactoriness of alternatives before choosing one?

Accepted Answer

A)  Identifying alternatives 
B)  Implementing the chosen alternative 
C)  Defining the situation 
D)  Following up the implementation 
E)  Evaluating alternatives 
A)  Identifying alternatives 
B)  Implementing the chosen alternative 
C)  Defining the situation 
D)  Following up the implementation 
E)  Evaluating alternatives

Question 10

An alternative should be eliminated during evaluation if:

Accepted Answer

A)  it is supported by the most number of individuals. 
B)  it involves minimal costs. 
C)  it is found to have passed the satisfactoriness test. 
D)  it has several unaffordable consequences. 
E)  it requires minimal resources. 
A)  it is supported by the most number of individuals. 
B)  it involves minimal costs. 
C)  it is found to have passed the satisfactoriness test. 
D)  it has several unaffordable consequences. 
E)  it requires minimal resources.

Question 11

Chelsea has been contemplating buying a red car. When she visits the used cars dealership, she looks at a red Ford Hatchback and buys it even before checking for its technical specifications. Chelsea's decision is an example of _____.

Accepted Answer

A)  optimization 
B)  escalation of commitment 
C)  an evidence-based decision 
D)  satisficing 
E)  a decision under uncertainty 
A)  optimization 
B)  escalation of commitment 
C)  an evidence-based decision 
D)  satisficing 
E)  a decision under uncertainty

Question 12

_____ is one of the factors that makes an alternative infeasible.

Accepted Answer

A)  Decrease in expenditure 
B)  Increase in production capacity 
C)  Low costs 
D)  Increased satisfactoriness 
E)  Legal barriers 
A)  Decrease in expenditure 
B)  Increase in production capacity 
C)  Low costs 
D)  Increased satisfactoriness 
E)  Legal barriers

Question 13

Define decision making, and discuss programmed and nonprogrammed decisions.

Accepted Answer

Decision making is the act of choosing o

Question 14

U.S. Steel and the United Steelworkers announced an agreement for a 3-year contract. The agreement is an example of a(n) _____ decision.

Accepted Answer

nonprogrammed
The agreement is

Question 15

After being laid off by their companies, many individuals recognized three options they could choose from before they could secure new jobs: to spend less, to use savings, or to use credit. In the context of the steps involved in the rational decision-making model, they were _____.

Accepted Answer

A)  monitoring implementation 
B)  selecting the best alternative 
C)  identifying alternatives 
D)  implementing alternatives 
E)  evaluating decision effectiveness 
A)  monitoring implementation 
B)  selecting the best alternative 
C)  identifying alternatives 
D)  implementing alternatives 
E)  evaluating decision effectiveness

Question 16

Which of the following is true of interacting groups?

Accepted Answer

A)  They are the least common decision-making groups. 
B)  They effectively eliminate the possibility of groupthink. 
C)  They can be regular work teams. 
D)  They provide little scope for new ideas. 
E)  They do not involve political forces. 
A)  They are the least common decision-making groups. 
B)  They effectively eliminate the possibility of groupthink. 
C)  They can be regular work teams. 
D)  They provide little scope for new ideas. 
E)  They do not involve political forces.

Question 17

Which of the following is true of nominal groups?

Accepted Answer

A)  Innovative ideas are not generated in nominal groups. 
B)  Members of nominal groups are brought together in a face-to-face setting. 
C)  Members of nominal groups talk freely among themselves, argue, agree, form internal coalitions, and so forth. 
D)  Only one individual dominates a nominal group. 
E)  Nominal groups are most often used for forecasting technological breakthroughs. 
A)  Innovative ideas are not generated in nominal groups. 
B)  Members of nominal groups are brought together in a face-to-face setting. 
C)  Members of nominal groups talk freely among themselves, argue, agree, form internal coalitions, and so forth. 
D)  Only one individual dominates a nominal group. 
E)  Nominal groups are most often used for forecasting technological breakthroughs.

Question 18

Managers with higher levels of risk propensity are more likely than their conservative counterparts to:

Accepted Answer

A)  adhere to the rational model and be extremely cautious about their decisions. 
B)  avoid mistakes and infrequently make decisions that lead to big losses. 
C)  rely heavily on intuition and gamble big investments on their decisions. 
D)  reach decisions slowly after a great amount of analysis. 
E)  display no aggression in decision making. 
A)  adhere to the rational model and be extremely cautious about their decisions. 
B)  avoid mistakes and infrequently make decisions that lead to big losses. 
C)  rely heavily on intuition and gamble big investments on their decisions. 
D)  reach decisions slowly after a great amount of analysis. 
E)  display no aggression in decision making.

Question 19

Venus Electronics Inc. decided to explore markets in different countries. It has now set up a branch in Selenasia. This is an example of a(n) _____ decision.

Accepted Answer

A)  structured 
B)  nonprogrammed 
C)  standard 
D)  programmed 
E)  operational 
A)  structured 
B)  nonprogrammed 
C)  standard 
D)  programmed 
E)  operational

Question 20

Which of the following statements is true about the decision-making process?

Accepted Answer

A)  It exclusively applies to problem situations. 
B)  It requires that the nature of a particular situation be defined. 
C)  It seldom applies to situations that are positive. 
D)  It typically involves only one individual and seldom applies to groups. 
E)  It results in the generation of only one alternative. 
A)  It exclusively applies to problem situations. 
B)  It requires that the nature of a particular situation be defined. 
C)  It seldom applies to situations that are positive. 
D)  It typically involves only one individual and seldom applies to groups. 
E)  It results in the generation of only one alternative.

A manager who has a high level of risk propensity is likely to:

According to the classical decision model, managers:

_____ is the extent to which a decision maker is willing to gamble when making a decision.

In the rational decision-making process, optimization means:

Which of the following statements is true in the context of selecting the best alternative?

When decision making is under a condition of uncertainty:

Which of the following statements is true about the administrative model of decision making?

Managers sometimes decide to do something because it feels right or they have a hunch. This is an example of using _____ in decision making.

In which step of the rational decision-making model does the decision maker test the feasibility and satisfactoriness of alternatives before choosing one?

An alternative should be eliminated during evaluation if:

Chelsea has been contemplating buying a red car. When she visits the used cars dealership, she looks at a red Ford Hatchback and buys it even before checking for its technical specifications. Chelsea's decision is an example of _____.

_____ is one of the factors that makes an alternative infeasible.

Define decision making, and discuss programmed and nonprogrammed decisions.

U.S. Steel and the United Steelworkers announced an agreement for a 3-year contract. The agreement is an example of a(n) _____ decision.

After being laid off by their companies, many individuals recognized three options they could choose from before they could secure new jobs: to spend less, to use savings, or to use credit. In the context of the steps involved in the rational decision-making model, they were _____.

Which of the following is true of interacting groups?

Which of the following is true of nominal groups?

Managers with higher levels of risk propensity are more likely than their conservative counterparts to:

Venus Electronics Inc. decided to explore markets in different countries. It has now set up a branch in Selenasia. This is an example of a(n) _____ decision.

Which of the following statements is true about the decision-making process?

Understanding the Managers Job

The Environment of Organizations and Managers

Planning and Strategic Management

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters

Exam 4: Managing Decision Making

A manager who has a high level of risk propensity is likely to:

According to the classical decision model, managers:

_____ is the extent to which a decision maker is willing to gamble when making a decision.

In the rational decision-making process, optimization means:

Which of the following statements is true in the context of selecting the best alternative?

When decision making is under a condition of uncertainty:

Which of the following statements is true about the administrative model of decision making?

Managers sometimes decide to do something because it feels right or they have a hunch. This is an example of using _____ in decision making.

In which step of the rational decision-making model does the decision maker test the feasibility and satisfactoriness of alternatives before choosing one?

An alternative should be eliminated during evaluation if:

Chelsea has been contemplating buying a red car. When she visits the used cars dealership, she looks at a red Ford Hatchback and buys it even before checking for its technical specifications. Chelsea's decision is an example of _____.

_____ is one of the factors that makes an alternative infeasible.

Define decision making, and discuss programmed and nonprogrammed decisions.

U.S. Steel and the United Steelworkers announced an agreement for a 3-year contract. The agreement is an example of a(n) _____ decision.

After being laid off by their companies, many individuals recognized three options they could choose from before they could secure new jobs: to spend less, to use savings, or to use credit. In the context of the steps involved in the rational decision-making model, they were _____.

Which of the following is true of interacting groups?

Which of the following is true of nominal groups?

Managers with higher levels of risk propensity are more likely than their conservative counterparts to:

Venus Electronics Inc. decided to explore markets in different countries. It has now set up a branch in Selenasia. This is an example of a(n) _____ decision.

Which of the following statements is true about the decision-making process?

Understanding the Managers Job

The Environment of Organizations and Managers

Planning and Strategic Management

Entrepreneurship and New Venture Management

Organization Structure and Design

Organization Change and Innovation

Managing Human Resources in Organizations

Basic Elements of Individual Behavior in Organizations

Managing Employee Motivation and Performance

Leadership and Influence Processes

Communication in Organizations

Managing Work Groups and Teams

Basic Elements of Control

Managing Operations, Quality, and Productivity

Filters