Question 1

The group of individual factors suggested as limitations on rational decision-making do NOT include:

Accepted Answer

A) bounded rationality,ethics,emotions 
B) ambiguity,reality 
C) interpretation,intuition 
D) decision-making rules 
A) bounded rationality,ethics,emotions 
B) ambiguity,reality 
C) interpretation,intuition 
D) decision-making rules D

Question 2

Rational decision-making is based on prescriptive approach.

Accepted Answer

A) True 
 B)False  False

Question 3

In relation to ambiguity in decision-making:

Accepted Answer

A) the rational model is based on the assumption that information is known 
B) causality of events is ambiguous 
C) both of the above 
D) none of the above 
A) the rational model is based on the assumption that information is known 
B) causality of events is ambiguous 
C) both of the above 
D) none of the above C

Question 4

Hubbard et al.propose that risk assessment be undertaken by a process to:

Accepted Answer

A) consider alternatives,be aggressive,forecast alternatives,plan up-front,be thorough 
B) be conservative,narrow possible alternatives,consider competitor reactions,be flexible 
C) be flexible,expand multiple alternatives,forecast competitor reactions,plan exit strategy 
D) none of the above 
A) consider alternatives,be aggressive,forecast alternatives,plan up-front,be thorough 
B) be conservative,narrow possible alternatives,consider competitor reactions,be flexible 
C) be flexible,expand multiple alternatives,forecast competitor reactions,plan exit strategy 
D) none of the above

Question 5

All of the conceptual approaches to decision-making see decision-making as a process rather than a single judgment at some point in time.

Accepted Answer

A) True 
 B)False

Question 6

The fundamental assumption for understanding interpretation using 'behavioural economics' is:

Accepted Answer

A) that individuals anticipate events with respect to deviations from a reference theory 
B) that individuals evaluate outcomes with respect to deviations from a reference point 
C) that individuals generate reasons to explain deviations from a reference norm 
D) that individuals espouse theories with regard for deviations from a reference prospect 
A) that individuals anticipate events with respect to deviations from a reference theory 
B) that individuals evaluate outcomes with respect to deviations from a reference point 
C) that individuals generate reasons to explain deviations from a reference norm 
D) that individuals espouse theories with regard for deviations from a reference prospect

Question 7

The rational model of decision-making is not always used by managers.Why?

Accepted Answer

A number of practical limitations makes

Question 8

Valid approaches to understanding how decisions are made in the context of organisational conflict between decision makers include:

Accepted Answer

A) decision-making as a power struggle 
B) decision-making as a result of coalition formation 
C) both of the above 
D) none of the above 
A) decision-making as a power struggle 
B) decision-making as a result of coalition formation 
C) both of the above 
D) none of the above

Question 9

What are the keys that help in avoiding catastrophic errors that lead to business failure?

Accepted Answer

According to Tinsley,Dillon,and Madsen (

Question 10

As well as intuition,peoples' decisions are influenced by:

Accepted Answer

A) motivation,values,ethics,personal maturity 
B) motivation,values,ethics,personal nature 
C) emotions,values,organisational culture 
D) emotions,reward systems,ethics,personal nurture 
A) motivation,values,ethics,personal maturity 
B) motivation,values,ethics,personal nature 
C) emotions,values,organisational culture 
D) emotions,reward systems,ethics,personal nurture

Question 11

Assess the relevance of the normative approaches to decision-making.Provide two examples of why rationality in decision-making may be 'bounded'.

Accepted Answer

Research shows that rational decision-ma

Question 12

A wide variety of conceptual approaches for decision-making are being developed.Discuss what some of them are and what they have in common.

Accepted Answer

Some of these approaches involve behavio

Question 13

Complete the statement 'Rational decision-making is based on a ___ approach (i.e.how decisions ___ made).This contrasts with a ___ approach.'

Accepted Answer

A) positivist,might be,normative 
B) normative,should be,and intuitive 
C) reasonable,are actually,positivist 
D) deductive,might theoretically be,inferential 
A) positivist,might be,normative 
B) normative,should be,and intuitive 
C) reasonable,are actually,positivist 
D) deductive,might theoretically be,inferential

Question 14

In relation to cognitive maps:

Accepted Answer

A) their use avoids the need for personal experience,both actual and educational 
B) managers try to interpret events in ways that make them consistent with pre-existing beliefs 
C) if an event is too much like prior experience,wrong conclusions may be drawn 
D) industry recipes have been developed to cover only those facts relevant to an industry 
A) their use avoids the need for personal experience,both actual and educational 
B) managers try to interpret events in ways that make them consistent with pre-existing beliefs 
C) if an event is too much like prior experience,wrong conclusions may be drawn 
D) industry recipes have been developed to cover only those facts relevant to an industry

Question 15

In brainstorming technique,ideas for solving the problems are simply written down without evaluation.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements regarding the catastrophic errors in organisations is incorrect about avoiding them?

Accepted Answer

A)  It is best to conduct a root cause analysis about the problem rather than treat the symptoms. 
B) Ensure that managers are responsible and accountable for any problems that occur. 
C) Support those that challenge the system. 
D) Take shortcuts whenever possible to increase the efficiency of assessing the performance measurement systems in place. 
A)  It is best to conduct a root cause analysis about the problem rather than treat the symptoms. 
B) Ensure that managers are responsible and accountable for any problems that occur. 
C) Support those that challenge the system. 
D) Take shortcuts whenever possible to increase the efficiency of assessing the performance measurement systems in place.

Question 17

'If a critical decision has to be made,give me a strong leader over a senior management committee any day!' Do you agree or disagree? Discuss and give reasons for your answer.

Accepted Answer

The enthusiasm of a positive-thinking le

Question 18

A 'rational' decision implies a 'good' decision.

Accepted Answer

A) True 
 B)False

Question 19

What are the steps in the development of good strategy?

Accepted Answer

1.Involve a variety of individuals and p

Question 20

Individual values cannot conflict with each other.They may conflict with those of the organisation.

Accepted Answer

A) True 
 B)False

The group of individual factors suggested as limitations on rational decision-making do NOT include:

Rational decision-making is based on prescriptive approach.

In relation to ambiguity in decision-making:

Hubbard et al.propose that risk assessment be undertaken by a process to:

All of the conceptual approaches to decision-making see decision-making as a process rather than a single judgment at some point in time.

The fundamental assumption for understanding interpretation using 'behavioural economics' is:

The rational model of decision-making is not always used by managers.Why?

Valid approaches to understanding how decisions are made in the context of organisational conflict between decision makers include:

What are the keys that help in avoiding catastrophic errors that lead to business failure?

As well as intuition,peoples' decisions are influenced by:

Assess the relevance of the normative approaches to decision-making.Provide two examples of why rationality in decision-making may be 'bounded'.

A wide variety of conceptual approaches for decision-making are being developed.Discuss what some of them are and what they have in common.

Complete the statement 'Rational decision-making is based on a _ approach (i.e.how decisions _ made).This contrasts with a ___ approach.'

In relation to cognitive maps:

In brainstorming technique,ideas for solving the problems are simply written down without evaluation.

Which of the following statements regarding the catastrophic errors in organisations is incorrect about avoiding them?

'If a critical decision has to be made,give me a strong leader over a senior management committee any day!' Do you agree or disagree? Discuss and give reasons for your answer.

A 'rational' decision implies a 'good' decision.

What are the steps in the development of good strategy?

Individual values cannot conflict with each other.They may conflict with those of the organisation.

What Is Strategy

Analysing Business Strategy: Creating Value

Analysing the External Environment

Analysing the External Environment

Measuring Strategic Organisation Performance

GAP Analysis and Business-Level Strategic Options

Dynamic Competitive Strategy

Corporatemulti-Business Strategy

Acquisitions and Alliances

International Strategy

Capabilities, Systems and Structure

Leadership, People and Culture

Change Management

Filters

Exam 7: Strategic Decision-Making

The group of individual factors suggested as limitations on rational decision-making do NOT include:

Rational decision-making is based on prescriptive approach.

In relation to ambiguity in decision-making:

Hubbard et al.propose that risk assessment be undertaken by a process to:

All of the conceptual approaches to decision-making see decision-making as a process rather than a single judgment at some point in time.

The fundamental assumption for understanding interpretation using 'behavioural economics' is:

The rational model of decision-making is not always used by managers.Why?

Valid approaches to understanding how decisions are made in the context of organisational conflict between decision makers include:

What are the keys that help in avoiding catastrophic errors that lead to business failure?

As well as intuition,peoples' decisions are influenced by:

Assess the relevance of the normative approaches to decision-making.Provide two examples of why rationality in decision-making may be 'bounded'.

A wide variety of conceptual approaches for decision-making are being developed.Discuss what some of them are and what they have in common.

Complete the statement 'Rational decision-making is based on a ___ approach (i.e.how decisions ___ made).This contrasts with a ___ approach.'

In relation to cognitive maps:

In brainstorming technique,ideas for solving the problems are simply written down without evaluation.

Which of the following statements regarding the catastrophic errors in organisations is incorrect about avoiding them?

'If a critical decision has to be made,give me a strong leader over a senior management committee any day!' Do you agree or disagree? Discuss and give reasons for your answer.

A 'rational' decision implies a 'good' decision.

What are the steps in the development of good strategy?

Individual values cannot conflict with each other.They may conflict with those of the organisation.

What Is Strategy

Analysing Business Strategy: Creating Value

Analysing the External Environment

Analysing the External Environment

Measuring Strategic Organisation Performance

GAP Analysis and Business-Level Strategic Options

Dynamic Competitive Strategy

Corporatemulti-Business Strategy

Acquisitions and Alliances

International Strategy

Capabilities, Systems and Structure

Leadership, People and Culture

Change Management

Filters

Complete the statement 'Rational decision-making is based on a _ approach (i.e.how decisions _ made).This contrasts with a ___ approach.'