Exam 6: Managerial Decision Making

The idea underlying Lenovo's fu pan method is that managers should review every decision they make to improve the next one.

What is escalating commitment?

Managers with a(n) __________ style may make decisions that help others achieve their goals.

Which of the following styles is used by people who prefer simple, clear-cut solutions to problems?

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

__________ decisions are associated with decision rules.

__________ occurs when we allow initial impressions, statistics, and estimates to exert excessive influence on our subsequent thoughts and judgments.

Briefly describe the four major personal decision styles.

Examples of nonprogrammed decisions would include the decision to _____.

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

Brainstorming uses a face-to-face interactive group to spontaneously suggest as many ideas as possible for solving a problem.

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?

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

The term _____ refers to combining intuitive and analytic thought

Bobby, a product manager, wants to increase the market share of his product.He is unsure about how to go about it, not knowing for sure how costs, price, the competition, and the quality of his product will interact to influence market share.Bobby is operating under a condition of ______.

What is a problem, and what is an opportunity?

Why is the classical model of decision making categorized as normative?

Most bad decisions are errors in judgment that originate in people's limited capacity and natural biases.

Feedback works best when it is delayed and emotions have had a chance to settle.

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