Exam 11: Decision Making

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When is crowdsourcing best employed?

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Finding meaningful patterns in large datasets using conventional statistics, mathematical modeling, and various techniques to represent data visually is called

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Evidence-based management involves making decisions through the conscientious, explicit, and judicious use of the best available evidence from other organizations.

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What is crowdsourcing and when is it best employed for decision making?

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Crowdsourcing is best employed when the nature of the problem can be clearly stated.

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

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Mood has its greatest impact on certain, unambiguous decisions.

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The not-invented-here bias can lead to serious failures to innovate.

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When people view a problem as a choice between losses, they tend to make conservative decisions.

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Low-cost information technology and the rise of expertise in the general public have contributed to the growth of crowdsourcing as a decision aid.

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Sally tended to make a riskier decision about investing in her small business after reading an article in Fortune.This is an example of the risky shift phenomenon.

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The tendency to ignore or harbor negative attitudes toward ideas from outside one's own organization or project team is known as the not-invented-here bias.

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In a study on real estate agents, it was found that the agents allowed the asking price of a house to unduly influence their professional evaluation of the house.What is this an example of?

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A meta-analysis is a technique used when evidence from many experts is being used to make a decision.

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Crowdsourcing is the same as contracting with outside experts.

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Who failed to treat sunk costs properly?

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Escalation of commitment only happens when the current decision maker is responsible for the previous sunk costs.

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Which of the following is an example of diffusion of responsibility?

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Whistle-blowers often report that they were motivated by ________ to protest decision errors.

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The tendency for group members to feel less anxious about the consequences of a decision because it was made by a group rather than an individual member is called ________.

(Short Answer)
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