Question 1

A business school's statement that it "strives for productive relationships with local organizations" is an example of a ________.

Accepted Answer

A) rule 
B) precedent 
C) procedure 
D) policy 
A) rule 
B) precedent 
C) procedure 
D) policy

Question 2

Decision-making Biases (Scenario)
Frank is president of Mega Manufacturing, a Canadian company that makes automobile parts. Sales and profits are down sharply this quarter, and Frank needs to analyze the series of events that have led to the poor performance. Frank begins by reviewing his recent interactions with Mike, the vice-president of sales.
-Mike asked Frank to authorize the expenditure of an additional $30,000 to continue to pursue the contract with the Japanese car maker,even though there is no indication that they will reconsider their decision.As Mike explained,"My sales team has already spent close to $100,000 in time and effort trying to win that contract.What's another $30,000 to try to convince them to switch to Mega?" Mike's fixation on past expenditures demonstrates which of the following?

Accepted Answer

A) confirmation bias 
B) hindsight bias 
C) overconfidence bias 
D) sunk costs error 
A) confirmation bias 
B) hindsight bias 
C) overconfidence bias 
D) sunk costs error

Question 3

In order to make effective decisions in today's fast-moving world,managers need to ________.

Accepted Answer

A) build organizations that avoid complexity 
B) know when it is time to call it quits 
C) build organizations that rely on their past successes 
D) always use the rational decision-making process 
A) build organizations that avoid complexity 
B) know when it is time to call it quits 
C) build organizations that rely on their past successes 
D) always use the rational decision-making process

Question 4

Max is planning on going away to college next year and is currently trying to figure out which colleges he should apply to.He would like to major in English Literature at an accredited community college but is also looking for a university that offers financial aid and student housing.In terms of the decision-making process,these represent Max's ________.

Accepted Answer

A) criteria 
B) problems 
C) alternatives 
D) guidelines 
A) criteria 
B) problems 
C) alternatives 
D) guidelines

Question 5

Which of the following is an example of a policy?

Accepted Answer

A) Before going on a leave of absence,fill up the application form available on the company's online leave management system.All applications will be approved/rejected within two days by the employee's immediate supervisor. 
B) Employees working with power tools must wear safety glasses at all times. 
C) Smoking and the consumption of alcohol are strictly prohibited inside the work premises. 
D) We are an equal opportunity employer with a diverse workforce.We do not discriminate against employees and applicants on the basis of sex,race,color,religion,national origin,age,disability,marital status,sexual orientation or veteran status. 
A) Before going on a leave of absence,fill up the application form available on the company's online leave management system.All applications will be approved/rejected within two days by the employee's immediate supervisor. 
B) Employees working with power tools must wear safety glasses at all times. 
C) Smoking and the consumption of alcohol are strictly prohibited inside the work premises. 
D) We are an equal opportunity employer with a diverse workforce.We do not discriminate against employees and applicants on the basis of sex,race,color,religion,national origin,age,disability,marital status,sexual orientation or veteran status.

Question 6

A decision criterion defines what is important or relevant to resolving a problem.

Accepted Answer

A) True 
 B)False

Question 7

"We strive to use environmentally safe materials" is an example of a ________.

Accepted Answer

A) rule 
B) policy 
C) precedent 
D) guideline 
A) rule 
B) policy 
C) precedent 
D) guideline

Question 8

Most managerial decisions in the real world are nonprogrammed.

Accepted Answer

A) True 
 B)False

Question 9

The inflight service manager for National Airlines is authorized to distribute dry-cleaning vouchers to customers who complain about spilled drinks and food on their clothes during turbulent flights.This is an example of a ________ decision to a(n)________ problem.

Accepted Answer

A) nonprogrammed; routine 
B) programmed; unique 
C) programmed; structured 
D) nonprogrammed; unstructured 
A) nonprogrammed; routine 
B) programmed; unique 
C) programmed; structured 
D) nonprogrammed; unstructured

Question 10

All relevant criteria are equally important in decision-making.

Accepted Answer

A) True 
 B)False

Question 11

Managers need to understand cultural differences to make effective decisions in today's fast-moving world.

Accepted Answer

A) True 
 B)False

Question 12

In a short essay,describe in detail,with examples,what is meant by design thinking and nonlinear thinking; and how they relate to decision making.

Accepted Answer

Design thinking approaches management pr

Question 13

The Loaned Car (Scenario)
Colleen is a student, and her older brother has loaned her an old car. The car is in need of several repairs before she will feel comfortable driving it.
-Colleen decides to have all of the mechanical problems fixed on the car.She assumes that the mechanic has found all the relevant problems and that he will be able to perform all the required repairs within the estimated quote he provided.Colleen decides to proceed with the repairs under which set of assumptions?

Accepted Answer

A) intuition 
B) escalation of commitment 
C) rationality 
D) uncertainty 
A) intuition 
B) escalation of commitment 
C) rationality 
D) uncertainty

Question 14

Managers regularly use their intuition in decision-making.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following must be present in order to initiate the decision-making process?

Accepted Answer

A) established criteria 
B) implementation procedures 
C) viable alternatives 
D) pressure to act 
A) established criteria 
B) implementation procedures 
C) viable alternatives 
D) pressure to act

Question 16

The confirmation bias occurs when decision makers tend to think they know more than they actually do and hold unrealistically positive views of themselves.

Accepted Answer

A) True 
 B)False

Question 17

Decision-making Biases (Scenario)
Frank is president of Mega Manufacturing, a Canadian company that makes automobile parts. Sales and profits are down sharply this quarter, and Frank needs to analyze the series of events that have led to the poor performance. Frank begins by reviewing his recent interactions with Mike, the vice-president of sales.
-Frank reluctantly agreed to authorize Mike's request for additional funds to pursue the Japanese car maker,despite some ongoing concerns he has had about how this contract could impact his current agreements with three U.S.car companies.If Mega were to win the Japanese business,they would not have sufficient production capacity to meet all their contract obligations.Frank's decision demonstrates which of the following?

Accepted Answer

A) confirmation bias 
B) hindsight bias 
C) overconfidence bias 
D) framing bias 
A) confirmation bias 
B) hindsight bias 
C) overconfidence bias 
D) framing bias

Question 18

The final step in the decision-making process is to ________.

Accepted Answer

A) select the best alternative 
B) reevaluate the weightings of the criteria until they indicate the correct outcome 
C) evaluate the outcome of the decision 
D) implement the alternative to solve the problem 
A) select the best alternative 
B) reevaluate the weightings of the criteria until they indicate the correct outcome 
C) evaluate the outcome of the decision 
D) implement the alternative to solve the problem

Question 19

Decision making where managers recognize and understand that the systematic use of the best available data will improve their management practices and decision making is called ________.

Accepted Answer

A) rational management 
B) satisficing decision making 
C) evidence-based management 
D) innovative management 
A) rational management 
B) satisficing decision making 
C) evidence-based management 
D) innovative management

Question 20

Escalation of commitment refers to ________.

Accepted Answer

A) commitment to a bad decision due to unwillingness to go against the opinion of the majority 
B) an increased commitment to a previous decision despite evidence that it may have been wrong 
C) the strengthening of commitment to a particular course of action due to greater motivation by others 
D) greater commitment to a decision because of one's belief that it is "the right thing to do" 
A) commitment to a bad decision due to unwillingness to go against the opinion of the majority 
B) an increased commitment to a previous decision despite evidence that it may have been wrong 
C) the strengthening of commitment to a particular course of action due to greater motivation by others 
D) greater commitment to a decision because of one's belief that it is "the right thing to do"

A business school's statement that it "strives for productive relationships with local organizations" is an example of a ________.

In order to make effective decisions in today's fast-moving world,managers need to ________.

Which of the following is an example of a policy?

A decision criterion defines what is important or relevant to resolving a problem.

"We strive to use environmentally safe materials" is an example of a ________.

Most managerial decisions in the real world are nonprogrammed.

The inflight service manager for National Airlines is authorized to distribute dry-cleaning vouchers to customers who complain about spilled drinks and food on their clothes during turbulent flights.This is an example of a decision to a(n) problem.

All relevant criteria are equally important in decision-making.

Managers need to understand cultural differences to make effective decisions in today's fast-moving world.

In a short essay,describe in detail,with examples,what is meant by design thinking and nonlinear thinking; and how they relate to decision making.

Managers regularly use their intuition in decision-making.

Which of the following must be present in order to initiate the decision-making process?

The confirmation bias occurs when decision makers tend to think they know more than they actually do and hold unrealistically positive views of themselves.

The final step in the decision-making process is to ________.

Decision making where managers recognize and understand that the systematic use of the best available data will improve their management practices and decision making is called ________.

Escalation of commitment refers to ________.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing Diversity

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Foundations of Planning

Managing Strategically

Designing Organizational Structure

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Filters

Exam 8: Decision Making

A business school's statement that it "strives for productive relationships with local organizations" is an example of a ________.

In order to make effective decisions in today's fast-moving world,managers need to ________.

Which of the following is an example of a policy?

A decision criterion defines what is important or relevant to resolving a problem.

"We strive to use environmentally safe materials" is an example of a ________.

Most managerial decisions in the real world are nonprogrammed.

The inflight service manager for National Airlines is authorized to distribute dry-cleaning vouchers to customers who complain about spilled drinks and food on their clothes during turbulent flights.This is an example of a ________ decision to a(n)________ problem.

All relevant criteria are equally important in decision-making.

Managers need to understand cultural differences to make effective decisions in today's fast-moving world.

In a short essay,describe in detail,with examples,what is meant by design thinking and nonlinear thinking; and how they relate to decision making.

Managers regularly use their intuition in decision-making.

Which of the following must be present in order to initiate the decision-making process?

The confirmation bias occurs when decision makers tend to think they know more than they actually do and hold unrealistically positive views of themselves.

The final step in the decision-making process is to ________.

Decision making where managers recognize and understand that the systematic use of the best available data will improve their management practices and decision making is called ________.

Escalation of commitment refers to ________.

Introduction to Management and Organizations

Organizational Culture and the Organizational Environment

Managing Diversity

Managing in a Global Environment

Managing Entrepreneurially

Managing Responsibly and Ethically

Innovation and Adaptability

Foundations of Planning

Managing Strategically

Designing Organizational Structure

Managers and Communication

Managing Human Resources

Leadership

Motivating Employees

Managing Groups and Teams

Evidence-Based Decision Making

Filters

The inflight service manager for National Airlines is authorized to distribute dry-cleaning vouchers to customers who complain about spilled drinks and food on their clothes during turbulent flights.This is an example of a decision to a(n) problem.