Exam 7: Decision Making, Learning, Creativity, and Entrepreneurship

Aaron is a member of a group that meets weekly to discuss community issues. When the idea of changing recycling companies came up, Aaron knew the current company was doing a great job, but because everyone else wanted to change, he didn't say anything. This illustrates the concept of groupthink.

During a performance review discussion, Simone stated that she "could not evaluate Bob too highly." Brenda interpreted Simone's comments as favorable, but Stan believed she was indicating low performance. Simone's statement illustrates the problem of

Define the concept of a satisficing strategy for decision making and discuss its pros and cons.

The first step in the managerial decision-making process is to

When generating alternatives to specific problems, it is important for managers to

Rosa's Pizzeria recently learned its cheese supplier will be retiring within the month. To quickly identify a new supplier among the numerous options, Rosa plans to evaluate three companies and make the best decision based on that sample. Rosa is using a(n)________ strategy to make this decision.

Decision making in response to threats occurs only when organizational performance adversely affects events inside the organization.

Describe how the administrative model of decision making differs from the classical model and explain the three concepts on which the administrative model is based.

Escalating commitment is the tendency of decision makers to overestimate their ability to control activities and events.

Christian has been a highly valued employee for many years and never failed to deliver on challenging tasks. He is struggling on a recent assignment but has decided not to seek help as he's sure he will succeed in the end. Christian is demonstrating

The tendency of managers to ignore critical information is NOT as serious as the existence of incomplete information.

When executing an effective decision-making process, it is

________ is a source of bias that causes managers to continue to pursue a course of action even when evidence may indicate the chosen alternative is not advised.

Roberta noticed some opportunities to increase literacy in her community so she pursued volunteer support and a government grant to establish an education program. This is an example of

Explain the concept of programmed decision making and provide one example of a programmed decision. Also, discuss when a decision is not suited to this approach and provide one example.

While home from college one summer, Jerome rallied his friends to make and deliver sandwiches to homeless individuals in their town. The one-time effort was so well-received, Jerome worked to solicit cash and grocery donations from local businesses so that the following summer his group was able to make deliveries weekly. Jerome could be considered a(n)

A company's senior management team was discussing moving its operations to a new location; however, the number of variables that would affect the move were so great that they could not begin to evaluate them all. This situation illustrates the concept of

Jill's coworkers describe her decision-making approach as satisficing, meaning that she

Managers for an organic grocery chain were deciding whether to open a new store in a neighborhood currently unserved by any competitors. One manager felt that the lack of competitive presence was an opportunity to capture the newest customers. Another manager viewed the lack of a competitor in the area as an indicator that the local community may not be interested in organic products. This difference in perspective illustrates the concept of

Margot always takes her time, considering all available information before making a decision. Margot is an intuitive decision maker.