Exam 9: Managerial Decision Making

Finance managers at Big Bend Inc. made a financial blunder when they solely looked at the previous year's sales to estimate sales for the coming year. This an example of which management bias?

All of the following are biases that can affect a manager's judgment except:

Kelly, a manager at Pure Life Inc., likes to talk to her employees one on one and understand their feelings whenever there is a problem. Based on this information, Kelly uses a(n) __________ style.

According to the classical model of decision making, managers' searches for alternatives are limited because of human, information, and resource constraints.

The __________ model of decision making describes how managers actually makes decisions in situations characterized by nonprogrammed decisions, uncertainty, and ambiguity.

The devil's advocate technique is similar to brainstorming in that both techniques prevent individuals from challenging the assumptions and assertions made by the group.

What are the four positions on the possibility of failure scale?

Two employees in Stacey's department quit, which is normal for her department. She is faced with the decision to fill these positions. This would be considered a nonprogrammed decision.

__________ decisions are associated with conflicts over goals and decision alternatives, rapidly changing circumstances, fuzzy information, unclear links among decision elements, and the inability to evaluate whether a proposed solution will work.

The most effective managers are consistent in using their own decision style rather than shifting among styles.

__________ means that decision makers choose the first solution alternative that satisfies minimal decision criteria.

__________ represents a quick apprehension of a decision situation based on past experience but without conscious thought.

Briefly describe the assumptions underlying the classical model of decision making.

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

A(n) __________ is assigned the role of challenging the assumptions and assertions made by the group.

__________ decisions are associated with decision rules.

At the start of every shift, Carl, a delivery truck driver, plans out his route based on the addresses that he will be visiting to drop off packages. This can best be described as what kind of decision?

Genna 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?