Exam 5: Decision Making, Learning, Creativity, and Entrepreneurship

Which of the following is a programmed decision?

Star, Inc., is attempting to decide whether or not it should change its manufacturing process to a new type of technology. This represents a(n) ________ decision.

When a manager chooses an acceptable alternative instead of the optimum alternative, we say that a satisficing decision has occurred.

Patrick, a manager, is assessing possible alternatives for the solution of a problem. Patrick performs a cost-benefit analysis of several alternatives in order to determine the net financial payoff of each alternative. Which of the following criteria of decision making is Patrick implementing?

A manager considers a limited sample of the potential alternative solutions for a problem and selects one that is acceptable instead of attempting to select the optimum solution. This type of decision is called ________.

Sometimes in a brainstorming session, group members cannot simultaneously make sense of all the alternatives being generated, think up additional alternatives, or remember what they were thinking. This problem is known as ________.

KJ, Inc., has received a poor rating for one of its newly launched products from the customers. Joe, a top manager at KJ, Inc., is conducting a retrospective analysis and compiling a formal procedure from the results of past decisions for future use. Which of the following decision-making steps does the action of Joe represent?

When the meaning of the information available to a manager is unclear and can be interpreted in several ways, the information is ________.

Decisions that have been made many times in the past and for which managers have rules and guidelines about how to make similar decisions in the future are known as ________ decisions.

The idea that one level of learning affects other levels is part of the _________ principle of creating a learning organization.

With reference to the steps of decision-making process, which of the following is the last step in the managerial decision-making process?

In the decision-making process, to compare what actually happened to what was expected to happen as a result of the decision is a procedure of choosing among alternatives.

In managerial decision making, the ability of a manager to discover novel ideas that lead to alternative courses of action for the organization to use for solving a particular problem is known as ________.

When a member of a group challenges the decision that is being made by the group in an attempt to make the group carefully consider the pros and cons of a particular alternative, this member is playing the role of the devil's advocate.

The classical model of decision making specifies how decisions should be made by managers; this is a way of saying that this model of decision making is ________.

A software firm is considering introducing a new product on the market. However, managers cannot estimate the probability of success for the new product. Which of the following best describes the situation?

A manager of a charity asks the board of directors for permission to hire temporary help when the regular secretary goes on vacation. This is an example of which type of decision?

Which of the following is a part of the Delphi technique of group decision making?

Rationalization is a critical analysis of a preferred alternative to ascertain its strengths and weaknesses before it is implemented.

Define groupthink. Explain a technique that counteracts groupthink.