Exam 4: Decision Making

The classical view of social responsibility is that management's only social responsibility is to maximize profits.

Jay tends to look at the broad picture and consider many alternatives.He focuses on the long run and looks for creative solutions.Jay uses which decision-making style?

Discuss the socioeconomic view of corporate social responsibility.

Top managers play an especially important role in business ethics because they set the tone of the culture and are role models for other managers and employees.

The ________ approach to social responsibility is most consistent with the classical view.

The decision about how to handle the equipment repair or replacement is ________.

"Only managers with top-secret clearance are authorized to access the company database." This is an example of a ________.

Refer to the Scenario below to answer the questions that follow. Is the Picture Clear? (Scenario) Sharon is the regional manager of a large cable television company.Each day she faces many problems and decisions,such as how to price their products in each market,whom to hire,what kind of technology to purchase,and how to handle the increasing number of customer complaints.She needs some help sorting out these issues! -Issues that are straightforward,where the problem is familiar and easily defined,such as how to handle customer refunds or late payments,are known as ________ problems.

If an individual knows the price of three similar cars at different dealerships,he or she is operating under what type of decision-making condition?

The socio-economic view of social responsibility states that a business ________.

Which of the following is a basic definition of ethics?

Refer to the Scenario below to answer the questions that follow. Opposing Views of Social Responsibility (Scenario) The board of directors of the Four Forks Generating Corporation is meeting to consider the construction of a new electrical generation facility near the Four Forks River.Director Appleton prefers a coal-burning plant because it promises to be the most profitable alternative.Over the short term at least,a coal plant will be by far the least expensive facility to build and operate.Coal is cheap and the considerable pollution from the plant won't affect anything within hundreds of miles from the plant.Director Estrella wants a nuclear plant to be located 30 kilometres upriver from the biggest city in the area.Nuclear power is cleaner than coal.Completely safeguarding the community against accidents in the plant or from disposing of toxic waste could be very expensive.However,Estrella has discovered that the job can be done much more cheaply by cutting some corners-while still strictly following all laws-and creating some additional risk for the community.Director Jossleman supports the most expensive option of the three.She wants a wind farm to be built along the banks of the river on top of a ridge.The wind turbines produce absolutely no pollution and pose no threat to the community or the environment.They are expensive to build and to operate at the current time because they require elaborate backup systems to function when the wind isn't blowing. -Director Jossleman is exhibiting which of the following social responsibility positions?

In deciding whether or not to purchase a particular franchise,start-up costs and franchisor history are two possible decision criteria.

A(n)________ occurs when decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments.

To receive reimbursement for their travel expenses,managers at ABC company must first list each item in chronological order on an expense form,then attach all receipts to the upper left corner,then obtain their supervisor's authorizing signature,and finally forward the form to the finance department.This is an example of a ________.

Sometimes Sharon instructs her local managers to follow ________ when confronted with problem situations.These establish general parameters for the decision maker rather than specifically stating what should or should not be done.

________ is a form of conformity in which group members feel extensive pressure to align their opinions to conform to others opinions.

Refer to the Scenario below to answer the questions that follow. Is the Picture Clear? (Scenario) Sharon is the regional manager of a large cable television company.Each day she faces many problems and decisions,such as how to price their products in each market,whom to hire,what kind of technology to purchase,and how to handle the increasing number of customer complaints.She needs some help sorting out these issues! -Unfortunately,Sharon also faces issues containing information that is ambiguous or incomplete,such as what kind of technology to purchase.These are known as ________ problems.

Refer to the Scenario below to answer the questions that follow. Decision-Making Styles (Scenario) Jeremy has noticed that the people within his organization make decisions in very different ways.Jackie is rational and has a low tolerance for ambiguity.She is efficient and generally makes decisions that are applicable to the short term.Andy tends to be very broad in his outlook and looks at many alternatives before making a decision.He generally focuses on the long term.Alexandra thinks intuitively and works well with others.She is open to suggestions and concerned about the achievements of those around her.As for Jeremy,he likes to have complete information before making a decision,and carefully considers many alternatives. -Alexandra's decision-making style can be characterized as ________.

Refer to the Scenario below to answer the questions that follow. 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. -Before talking with an automotive repair person,Colleen needs to assess which factors are relevant to her decision.The car needs new brakes,tires,a muffler,a tune-up,and could also use some body work to repair dents and scratches.After consideration,Colleen decides that safety and reliability are relevant.This is which step in the decision-making process?