Exam 11: Decision Making

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The tendency for group members to feel less anxious about the consequences of a decision because it was made by a group rather than an individual member is called ________.

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Scientific research and company data are most useful at what stage of the decision cycle?

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Evidence-based management involves making decisions through the conscientious,explicit,and judicious use of the best available evidence from ________ sources.

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Robert Leung is the leader of a product development project at Kapster Enterprises.He has spent nearly two years on the project,which is now nine months behind schedule and approximately 50 percent over budget.In the meantime,a competitor has introduced a similar product which is rapidly penetrating the market,thereby reducing the remaining market potential for Kapster.Yet,Robert feels that their product will be superior to the competitor's,and he is preparing a report for his boss to request additional funds in order to complete the development phase and debug the product prototype.He is hoping that his boss will approve the request,since he has supported the project this far.If you were Robert's boss,what problems associated with bounded rationality might you be concerned about?

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Low-cost information technology and the rise of ________ media have contributed to the growth of crowdsourcing as a decision aid.

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Copious amounts of information that are often collected in real time and can come from a wide variety of sources,particularly digital is known as

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Much of what passes for decision making in organizations consists of guessing what the ________ favours.

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What sources of evidence are most useful for identifying a problem and when developing,choosing,and implementing solutions?

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One company strongly identified with the use of analytics is General Electric.

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Which of the following is NOT a characteristic of groupthink?

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Escalation of commitment

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________ refers to the often subtle aspects of the presentation of information about a problem that are assumed by decision-makers.

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Which of the following accurately depicts the relationship between personality and escalation?

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What two companies have profited greatly from applying sophisticated analytics to big data to facilitate decisions about targeted advertising?

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Escalation of commitment only happens when the current decision maker is responsible for the previous sunk costs.

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Research has shown that people tend to have a ________ to value information advice for which they have paid over free advice of equal quality.

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Crowdsourcing can be used to

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Crowdsourcing refers to

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Evidence-based management involves making decisions through the conscientious,explicit,and judicious use of the best available evidence from other organizations.

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Discuss the contemporary approaches that can be used to improve decision making in organizations.

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