Exam 9: Managerial Decision Making

Define the terms 'certainty','uncertainty','risk' and 'ambiguity'.

The primary role of __________ is to supply the decision makers with additional,creative solutions.

When the decision has a clear-cut goal and good information is available to supported,but the future outcomes associated with each alternative are subject to high variance,the decision is said to be high risk.

Strategic decisions are often useful examples of __________ decisions.

____________ occurs between stakeholders who are involved in the decision or activity who have failed to agree on certain aspects of the decision or goal.

The ____________________ style is used by people who prefer simple,clear-cut solutions to problems.

_______________________________________ (two words)is the process of identifying problems and opportunities and then resolving them.

____________________ 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 chance.

____________________ occurs when group members are so committed to the group that they are reluctant to express contrary decisions.

A(n)____________________ refers to a situation where an organisation perceives the potential to exceed its current goals,whereas a ____________ refers to a situation where an organisation fails to meet its goals.

When managers know what they wish to achieve,but information about future events is incomplete,they are said to be facing conditions of ______________.

The step in the decision making process in which managers analyse underlying causal factors associated with a decision situation is known as:

A manager with a behavioural style often has a deep concern for others as individuals.

The _________________ (two words)decision making model describes how managers actually make decisions in situations characterised by uncertainty and ambiguity.

The willingness to undertake risk with the opportunity of gaining an increased payoff for the organisation is known as:

Which of these is the first step in the managerial decision-making process?

The assumption that information is ambiguous and incomplete belongs to the ____________________ model.

_______________________________________(two words)is the willingness to undertake risk with the opportunity of gaining an increased payoff.

Decision making must not be done amid ever-changing factors,unclear information and conflicting points of view.

Bringing people together in an interactive growth over a computer network to suggest alternatives is known as: