Exam 9: Managerial Decision Making

__________ 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 some chance of loss or failure.

Jefferson Inc. is an information technology consulting firm located in Washington D.C. Decisions at Jefferson are complex and involve many people, with a significant amount of disagreement and conflict. Which decision-making model fits best for this organization?

__________ is the step in the decision-making process in which managers analyze underlying causal factors associated with the decision situation.

The approach managers use to make decisions usually falls into one of three types-the classical model, the administrative model, or the political model.

In the real world, few decisions are certain.

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

Which decision style is adopted by managers who have a deep concern for others as individuals?

Shirley works in the human resource department at Turtle Shells, Inc. She believes that she is seeing an increase in drinking problems among the workforce. She thinks she needs to investigate further. She is at what stage of the managerial decision-makingprocess?

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

Which approach defines how a decision maker should make decisions?

Managers are considered to have a(n) __________ style when they prefer to consider complex solutions based on as much data as they can gather.

Many nonprogrammed decisions are related to __________ because uncertainty is great and decisions are complex.

__________ occurs when we allow initial impressions, statistics, and estimates to act as anchors to our subsequent thoughts and judgments.

The tendency to continue investing in a failing project in the hope of turning it around is called the __________.

The best alternative solution is the one:

Which of the following is a characteristic of the political model of decision making?

Risk propensity is the willingness to undertake risk with the opportunity of gaining an increased payoff.

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

Which of the following is a decision-making technique that can be used to stimulate rigorous debate?

Electronic brainstorming is a way of evaluating the ideas of others online.