Exam 14: Managerial Decision Making

Which of the following is NOT a basic rule of brainstorming?

What concept, developed by Herbert Simon, was considered to be pioneering research into the decision-making process within economic organizations and led to Simon's winning of the 1978 Nobel Prize in economics?

When asked by management why the team did not meet its goal, the team members blamed Tristan saying that he didn't contribute to the team's efforts, when, in fact, the team members would never listen to any of the ideas Tristan offered. In this instance, Tristan is a scapegoat.

When the marketing department exceeded its allocated budget by 20 percent, management blamed it on the marketing director even though management had drastically cut the department's budget midway through the year. In this example, the marketing director is

What is the difference between objective and subjective probability?

What are the limitations of evidence-based management?

In the "Diversity Competency: Chubb's Business Case for Diversity," the company views diversity as a

In the bounded rationality model, the tendency to select an acceptable, rather than an optimal, goal or decision is called

Confirmation and acceptance of a new idea takes place in the ______ stage of the creative process.

In the ______ stage of the creative process, a commitment must be made to implement a solution.

In "Change Competency: St. Clair Hospital Adopts RFID and Related Technologies," what has been the result of the hospital utilizing RFID technology?

Describe bounded rationality.

If you are in constant fear of making a mistake and genuinely fear and distrust others, your creativity will suffer from a(n)

The condition under which individuals can define a problem, specify the probability of certain events, identify alternative solutions, and state the probability of each solution leading to a result is referred to as

The process of defining problems, gathering information, generating alternatives, and choosing a course of action is referred to as

Mahie's team had to choose between two products to develop. The team made their decision and completed the production process. After a short while it became clear that the team made the wrong decision. Even so, the team continued to allocate resources to the product despite a substantial amount of feedback indicating that their choice had been wrong. This is an example of

Katerina knows the company's current warehouse is not large enough to house all of its inventory. She is assessing whether to open a second warehouse or move to a larger location. Katerina knows the pros and cons of each choice and has all the information she needs to make her decision. The decision that Katerina will make is based on a condition of

Groupthink helps to reduce the likelihood that escalating commitment will occur.

An example of a cultural block would be

Define knowledge management. Describe the difference between data, information, and knowledge.