Exam 6: Managerial Decision Making

People with a __________ style of decision making usually are concerned with the personal development of others and may make decisions that help others achieve their goals.

__________ exists when managers see potential of enhancing performance beyond current levels.

As a top manager, Joanna works with others on her team every day in making important corporate decisions.Her preferred decision-making approach is to generate as many alternatives to problems as possible in a short amount of time.This approach is referred to as _____.

What is involved in the diagnosis step of decision making?

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

__________ means that people have the time and cognitive ability to process only a limited amount of information on which to base decisions.

Because it can bring together members from all over the world, electronic brainstorming often leads to greater diversity in solutions.

What is confirmation bias?

Differences among people with respect to how they perceive problems and make decisions can be explained by a concept called __________.

When considering decisions, people often give disproportionate weight to the last information they received.

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.

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

What is anchoring bias?

What is the sunk cost effect?

Riley is a manager at the Tinker Tools.She is expected to make decisions that are in the organization's best economic interests.Her decisions should most likely be based on which of the following models of decision making?

Decision alternatives can be thought of as tools for reducing the difference between the organization's current and desired performance.

A __________ is an informal alliance among managers who support a specific goal or solution.

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

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

Two employees in Stacey's department, which has very high turnover, quit, and she has to decide about filling the positions, which are categorized as operationally critical.This would be considered a nonprogrammed decision.