Exam 3: Managing Decision Making

The cognitive limitations that constrain one's ability to interpret, process, and act on information is known as:

An ethical decision is a decision that reasonable or typical stakeholders would find acceptable because it aids shareholders, the organization, or society.

A manager's duty or obligation to make decisions that promotes the welfare and well-being of stakeholders and society, as a whole is known as:

Searching for and choosing an acceptable, or satisfactory response to problems and opportunities, rather than trying to make the best decision, is known as:

The administrative model of decision making was developed by:

Compare and contrast the four decision making styles.

When Walmart tried to use the same model that worked for them in the USA in the rest of the world, they were acting on a representative bias.

It is the responsibility of middle managers to implement the chosen alternative.

Researchers have identified a seven-step model that can be used by managers who are faced with an important decision.Discuss these steps as they would apply to an important and realistic business situation of your choosing.

Managers who have a strong commitment to social responsibility, an eagerness to do more than the law requires and to use organizational resources to promote the interest of all organizational stakeholders is known as what type of approach to social responsibility?

Rules of thumb that simplify decision making are called heuristics.

The administrative model of decision making recognizes that the assumptions underlying the rational model are rarely accurate.

A cognitive bias resulting from the tendency to generalize inappropriately from a small sample or from a single vivid event or episode is known as:

Prior hypothesis bias occurs when managers make decisions based on strong beliefs that they think apply to the situation even when they don't.

A sustainability strategy has all of the following characteristics, except:

When a manager must decide whether he/she has the capabilities and resources required to implement the alternate causes of action, upon which criteria for decision making is this manager focusing?

Decision making occurs in all of the following activities of managing, except:

Decision making involves analyzing options and making determinations about specific organizational goals and courses of action.

Routine, virtually automatic decision making that follows established rules or guidelines is known as programmed decision making.

The process through which managers seek to improve employees' desire and ability to understand and manage the organization and its task environment is known as: