Question 1

According to the anchoring effect, people

Accepted Answer

A) resist problem solutions developed by others. 
B) depend too much on problem solutions developed by others. 
C) don't adjust successive estimates enough in the face of new information. 
D) rely too much on the most recent information received. 
E) tend to invest additional resources in an apparently failing course of action. 
A) resist problem solutions developed by others. 
B) depend too much on problem solutions developed by others. 
C) don't adjust successive estimates enough in the face of new information. 
D) rely too much on the most recent information received. 
E) tend to invest additional resources in an apparently failing course of action. C

Question 2

Evidence-based management has its roots in evidence-based ________.

Accepted Answer

medicine

Question 3

Define analytics and provide an example of how it has been used in decision making.

Accepted Answer

Analytics concerns finding meaningful patterns in large datasets using conventional statistics, mathematical modeling, and various techniques to represent data visually.In some cases, the revealed patterns show that problems are more well structured than was thought.An example of analytics can be found in the bestselling book Moneyball by Michael Lewis.Lewis recounts how the general manager of the Oakland Athletics major league baseball team used an array of new performance statistics to evaluate players and implement tactics during games.The interesting thing about these analytic applications is that they showed that many intuitive and time-honoured decision rules used by managers (e.g., telling players to steal a base)were statistically incorrect.Using analytics enabled the Athletics to field highly competitive teams while paying comparatively modest salaries.

Question 4

People in a positive mood tend to evaluate objects, people, and events more positively.

Accepted Answer

A) True 
 B)False

Question 5

The tendency to ignore or harbor negative attitudes toward ideas from outside one's own organization or project teams is known as the ________ bias.

Accepted Answer

The answer of The tendency to ignore or harbor negative...

Question 6

Robert Leung is the leader of a product development project at Kapster Enterprises.He has spent nearly two years on the project, which is now nine months behind schedule and approximately 50 percent over budget.In the meantime, a competitor has introduced a similar product which is rapidly penetrating the market, thereby reducing the remaining market potential for Kapster.Yet, Robert feels that their product will be superior to the competitor's, and he is preparing a report for his boss to request additional funds in order to complete the development phase and debug the product prototype.He is hoping that his boss will approve the request, since he has supported the project this far.If you were Robert's boss, what problems associated with bounded rationality might you be concerned about?

Accepted Answer

Robert's boss should be concerned with t

Question 7

Research by Daniel Kahneman and Amos Tversky shows that

Accepted Answer

A) when people view a problem as a choice between losses, they tend to make conservative decisions. 
B) when people view a problem as a choice between gains, they tend to make risky decisions. 
C) when people view a problem as a choice between losses, they tend to make risky decisions. 
D) when people view a problem as a choice between losses, they tend to make poor decisions. 
E) when people view a problem as a choice between losses, they tend to make better decisions. 
A) when people view a problem as a choice between losses, they tend to make conservative decisions. 
B) when people view a problem as a choice between gains, they tend to make risky decisions. 
C) when people view a problem as a choice between losses, they tend to make risky decisions. 
D) when people view a problem as a choice between losses, they tend to make poor decisions. 
E) when people view a problem as a choice between losses, they tend to make better decisions.

Question 8

Which of the following is an example of an ill-structured problem?

Accepted Answer

A) The retailer must decide whether to reorder lawn chairs. 
B) The sales manager must decide what to do about sales that seem sluggish. 
C) The assistant bank manager must decide which automobile loan applications to approve. 
D) The welfare officer must decide how much assistance a particular client should receive. 
E) The production manager must decide how many workers to schedule on the line next week. 
A) The retailer must decide whether to reorder lawn chairs. 
B) The sales manager must decide what to do about sales that seem sluggish. 
C) The assistant bank manager must decide which automobile loan applications to approve. 
D) The welfare officer must decide how much assistance a particular client should receive. 
E) The production manager must decide how many workers to schedule on the line next week.

Question 9

Expertise is sought among the masses when using ________.

Accepted Answer

The answer of Expertise is sought among the masses when...

Question 10

Individual decision making generally results in higher quality decisions than group decision making.

Accepted Answer

A) True 
 B)False

Question 11

Crowdsourcing is best employed when the nature of the problem cannot be clearly stated.

Accepted Answer

A) True 
 B)False

Question 12

If group pressure leads to reduced mental efficiency, poor reality testing, and lax moral judgments, ________ has probably occurred.

Accepted Answer

The answer of If group pressure leads to reduced mental...

Question 13

Big data is a technical term.

Accepted Answer

A) True 
 B)False

Question 14

People in a positive mood tend to remember

Accepted Answer

A) positive and negative information. 
B) positive information. 
C) negative information. 
D) neutral information. 
E) recent information. 
A) positive and negative information. 
B) positive information. 
C) negative information. 
D) neutral information. 
E) recent information.

Question 15

Crowdsourcing has been applied to solving diverse problems.

Accepted Answer

A) True 
 B)False

Question 16

A characteristic of a well-structured problem is uncertainty.

Accepted Answer

A) True 
 B)False

Question 17

Appointing a devil's advocate might be a way to prevent groupthink from occurring in a decision-making group.

Accepted Answer

A) True 
 B)False

Question 18

The three Vs of big data are volume, velocity, and ________.

Accepted Answer

The answer of The three Vs of big data are...

Question 19

As individuals, the five partners who own a business tend to favour a risky investment.When they meet as a group to discuss the investment, we can expect a less risky course of action to be adopted.

Accepted Answer

A) True 
 B)False

Question 20

The ill-structured problem is one where the

Accepted Answer

A) existing state is clear, desired state is clear. 
B) existing state is clear, desired state is unclear. 
C) existing state is unclear, desired state is clear. 
D) existing state is unclear, desired state is unclear. 
E) existing state is clear, but the method of getting to the desired state is unknown. 
A) existing state is clear, desired state is clear. 
B) existing state is clear, desired state is unclear. 
C) existing state is unclear, desired state is clear. 
D) existing state is unclear, desired state is unclear. 
E) existing state is clear, but the method of getting to the desired state is unknown.

According to the anchoring effect, people

Evidence-based management has its roots in evidence-based ________.

Define analytics and provide an example of how it has been used in decision making.

People in a positive mood tend to evaluate objects, people, and events more positively.

The tendency to ignore or harbor negative attitudes toward ideas from outside one's own organization or project teams is known as the ________ bias.

Research by Daniel Kahneman and Amos Tversky shows that

Which of the following is an example of an ill-structured problem?

Expertise is sought among the masses when using ________.

Individual decision making generally results in higher quality decisions than group decision making.

Crowdsourcing is best employed when the nature of the problem cannot be clearly stated.

If group pressure leads to reduced mental efficiency, poor reality testing, and lax moral judgments, ________ has probably occurred.

Big data is a technical term.

People in a positive mood tend to remember

Crowdsourcing has been applied to solving diverse problems.

A characteristic of a well-structured problem is uncertainty.

Appointing a devil's advocate might be a way to prevent groupthink from occurring in a decision-making group.

The three Vs of big data are volume, velocity, and ________.

As individuals, the five partners who own a business tend to favour a risky investment.When they meet as a group to discuss the investment, we can expect a less risky course of action to be adopted.

The ill-structured problem is one where the

Organizational Behaviour and Management

Personality and Learning

Perception, Attribution, and Diversity

Values, Attitudes, and Work Behaviour

Theories of Work Motivation

Motivation in Practice

Groups and Teamwork

Social Influence, Socialization, and Organizational Culture

Leadership

Communication

Power, Politics, and Ethics

Conflict and Stress

Organizational Structure

Organizational Change, Development, and Innovation

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Exam 11: Decision Making

According to the anchoring effect, people

Evidence-based management has its roots in evidence-based ________.

Define analytics and provide an example of how it has been used in decision making.

People in a positive mood tend to evaluate objects, people, and events more positively.

The tendency to ignore or harbor negative attitudes toward ideas from outside one's own organization or project teams is known as the ________ bias.

Research by Daniel Kahneman and Amos Tversky shows that

Which of the following is an example of an ill-structured problem?

Expertise is sought among the masses when using ________.

Individual decision making generally results in higher quality decisions than group decision making.

Crowdsourcing is best employed when the nature of the problem cannot be clearly stated.

If group pressure leads to reduced mental efficiency, poor reality testing, and lax moral judgments, ________ has probably occurred.

Big data is a technical term.

People in a positive mood tend to remember

Crowdsourcing has been applied to solving diverse problems.

A characteristic of a well-structured problem is uncertainty.

Appointing a devil's advocate might be a way to prevent groupthink from occurring in a decision-making group.

The three Vs of big data are volume, velocity, and ________.

As individuals, the five partners who own a business tend to favour a risky investment.When they meet as a group to discuss the investment, we can expect a less risky course of action to be adopted.

The ill-structured problem is one where the

Organizational Behaviour and Management

Personality and Learning

Perception, Attribution, and Diversity

Values, Attitudes, and Work Behaviour

Theories of Work Motivation

Motivation in Practice

Groups and Teamwork

Social Influence, Socialization, and Organizational Culture

Leadership

Communication

Power, Politics, and Ethics

Conflict and Stress

Organizational Structure

Organizational Change, Development, and Innovation

Filters