Exam 8: Managerial Decision Making

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Point-counterpoint is a decision-making technique in which people are assigned to express competing points of view.

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Justifying past decisions is a common bias of managers.

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The political model consists of vague problems and goals, limited information about alternatives and their outcomes, and a satisficing choice for resolving problem using intuition.

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People with a(n) ____ style usually are concerned with the personal development of others and may make decisions that help others achieve their goals.

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List and describe the four basic assumptions of the political model.

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Decision making is easy, given that everybody makes decisions everyday.

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Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

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Two area banks, Bank A and Bank B, decided to merge their operations. This is an example of a

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____ has the highest possibility of failure.

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The ____ model of decision making is most valuable when applied to ____.

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____________________ decisions involve situations that have occurred often enough to enable decision rules to be developed and applied in the future.

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A(n) ____________________ occurs when organizational accomplishment is less than established goals.

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Which of the following means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable?

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Uncertainty is by far the most difficult decision situation.

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____________________ represents a quick apprehension of a decision situation based on past experience but without conscious thought.

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Briefly describe the four major personal decision styles.

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Associated with the condition of ____ is the lowest possibility of failure.

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Bierderlack has a policy that states that more than three absences in a six-month period shall result in a suspension. Colleen, the manager, has just decided to suspend one of her shift employees for violating this policy. This is an example of

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The best alternative is the one in which the solution best fits the overall goals and values of the organization and achieves the desired results using the fewest resources.

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Explain the difference between programmed and nonprogrammed decisions and give an example of each.

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