Exam 6: Managerial Decision Making

Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

_____ decision making involves a commitment to making more informed and intelligent decisions based on the best available facts and evidence.

Most people underestimate their ability to predict uncertain outcomes.

_____ decisions are made in response to situations that are unique,are poorly defined and largely unstructured,and have important consequences for the organization.

The _____ model of decision making describes how managers actually make decisions in difficult situations,such as those characterized by nonprogrammed decision,uncertainty,and ambiguity.

Melissa is a manager at InStylez Clothing.Her job is very complex and she feels that she does not have enough time to identify and/or process all the information she needs to make decisions.Melissa's situation is most consistent with which of the following concepts?

Administrative and political decision making procedures and intuition have been associated with high performance in unstable environments in which decisions must be made rapidly and under more difficult conditions.

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

The _____ model closely resembles the real environment in which most managers and decision-makers operate.

Which of the following defines a technique that uses a face-to-face group to spontaneously suggest a broad range of alternatives for decision making?

Making a choice is the most significant part of the decision-making process.

In the _____,managers invest time in reviewing the results of decisions and learn from them.

Compare decision conditions of certainty,risk,uncertainty,and ambiguity.

Step one in the managerial decision-making process is recognition of decision requirement.

The step in the decision making process in which managers analyze the underlying causal factors associated with the situation is called _____.

Brainstorming uses a face-to-face interactive group to spontaneously suggest a wide range of alternatives for decision making.

Evidence shows that people who make poor decisions under the influence of strong emotions tend to continue that behavior in the future.

Good intuitive decision making is based on an ability to recognize patterns at lightning speed.

The behavioral style is often adopted by managers who like to consider complex solutions based on as much data as they can gather.

The tendency of organizations to invest time and money in a solution despite strong evidence that is not appropriate is referred to as: