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

Aisha has been asked to organize a team of managers to make decisions regarding some key issues within her company. She has been given a very tight timeline and is concerned about the impacts of cognitive bias and groupthink. Aisha is familiar with techniques such as devil's advocacy and dialectical inquiry and knows they can help combat these issues, but she feels they would take too much time. What advice would you give Aisha about choosing group members?

Judy has thought of a novel solution to her company's recent challenges fulfilling customer orders on time. She must now determine whether the company has the capabilities and resources required to implement the solution. Which criterion of decision making is she addressing?

Jalen always strives to make optimum choices from the known alternatives but accepts that he will never have access to all available information and therefore must strive for the most satisfactory decisions. This realization is consistent with the ________ of decision making.

Many managers must regularly make decisions with incomplete information. Provide an overview of the step-by-step model that researchers have developed to help managers navigate the decision-making process and make the best decisions possible.

While facilitating a brainstorming session, Raul noticed periods of confusion and silence during which participants seemed unable to process the many ideas being floated. The efficiency of Raul's decision-making process was thereby limited due to the effects of

Vicky started a nonprofit company to help house and mentor the homeless in her community. Vicky is a social entrepreneur.

Caryn, an administrator of a day care program monitors child enrollment and hires additional caregivers as needed to maintain the legal ratios required for each age group. This is an example of a(n)________ decision.

In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the ________ decision.

Describe two forms of bias that adversely affect the way managers make decisions and provide an example for each.

Ayan is responsible for quality control for an automobile manufacturer and recently made the decision to suspend production when test results for completed cars fell below the manufacturer's standards. What type of decision is this?

The managers in Julio's company sponsor monthly brainstorming sessions and reward employees with gift cards and recognition when an out-of-the box idea leads to organizational improvements. Julio's company is an example of a(n)________ organization.

The president of Bank Fortuna is attempting to determine whether the bank has both the capability and the resources to open a branch facility in a new location. Which criterion of decision making is the president addressing?

Marissa is part of a team of managers who convene regularly to address project problems. All of the managers actively participate, sharing skills and knowledge to identify a wide range of alternatives and select the best solutions. Based on the characteristics of group decision making, how would you expect implementation of the team's solutions to play out and why?

Jordan works for a bank and decides whether to approve small business loans. He researches market saturation and the health of existing businesses before deciding how likely the prospective small business owner is to succeed. Jordan is making a(n)________ decision.

When discussing solutions for increasing profitability of a new product, Dale raises a concern that one of the alternatives may negatively impact sales for other products. Dale's concern demonstrates a focus on the ________ of the alternative.

Allowing individuals to develop a sense of personal mastery is detrimental to organizational learning.

Li believes his destiny is in his own hands and is open to taking risks and trying new things. He is very confident in his abilities and has a strong drive to achieve success for himself. Li demonstrates characteristics of a(n)

Describe the three important techniques that managers can use to promote creativity in group decision making. Which technique would be most effective for you and why?

DeMarcus has been general manager of the Surf and Turf Club restaurant for many years and always schedules extra staff for the busy Friday night shift. Business has been consistently slow on Fridays in recent months, but DeMarcus decides to continue with the extra staffing. His decision demonstrates

________ results from overestimating one's own ability to influence actions and events.