Question 1

The availability bias describes when decision makers try to create meaning out of random events.

Accepted Answer

A) True 
 B)False

Question 2

What is the step where a decision maker wants to be creative in coming up with possible alternative?

Accepted Answer

A)  analyzing alternatives 
B)  developing alternatives 
C)  allocating weights to the criteria 
D)  identifying decision criteria 
A)  analyzing alternatives 
B)  developing alternatives 
C)  allocating weights to the criteria 
D)  identifying decision criteria

Question 3

Which of the following is important to remember in evaluating the effectiveness of the decision-making process?

Accepted Answer

A)  You should ignore criticism concerning the decision-making process. 
B)  Ninety percent of problems with decision making occur in the implementation step. 
C)  You may have to start the whole decision process over. 
D)  You will have to restart the decision-making process if the decision is less than 50 percent effective. 
A)  You should ignore criticism concerning the decision-making process. 
B)  Ninety percent of problems with decision making occur in the implementation step. 
C)  You may have to start the whole decision process over. 
D)  You will have to restart the decision-making process if the decision is less than 50 percent effective.

Question 4

Optimistic managers could be expected to utilize their maximax orientation when they ________.

Accepted Answer

A)  maximize the maximum payoff 
B)  minimize the maximum regret 
C)  maximize the minimum payoff 
D)  minimize the minimum regret 
A)  maximize the maximum payoff 
B)  minimize the maximum regret 
C)  maximize the minimum payoff 
D)  minimize the minimum regret

Question 5

In a short essay, discuss six of the twelve common decision errors and biases that managers make.

Accepted Answer

a. When decision makers tend to think th

Question 6

________ is a situation in which a manager can make accurate decisions because the outcome of every alternative is known.

Accepted Answer

A)  Risk 
B)  Maximax 
C)  Uncertainty 
D)  Maximin 
E)  Certainty 
A)  Risk 
B)  Maximax 
C)  Uncertainty 
D)  Maximin 
E)  Certainty

Question 7

A manager who desires to minimize his or her maximum "regret" will opt for a ________ choice.

Accepted Answer

A)  minimum 
B)  maximax 
C)  minimax 
D)  maximin 
A)  minimum 
B)  maximax 
C)  minimax 
D)  maximin

Question 8

Managing Your Career (Scenario)
Maysa has a new job and is learning to perform the tasks assigned to her. Different situations demand different decision-making processes.
-Maysa finds a company directive that specifically restricts her from taking certain actions. This is a ________.

Accepted Answer

A)  policy 
B)  rule 
C)  procedure 
D)  broad guideline 
A)  policy 
B)  rule 
C)  procedure 
D)  broad guideline

Question 9

Decision-Making Conditions (Scenario)
Sabah is the manager for CaterersRUs, a medium-sized catering company. She is responsible for initiating new client contacts, and staffing both existing and new assignments. She is currently struggling with existing information about the profitability of existing and future clients.
-Sabah wishes to minimize her regret and will probably opt for a ________ strategy.

Accepted Answer

A)  minimax 
B)  certainty 
C)  maximax 
D)  risk 
A)  minimax 
B)  certainty 
C)  maximax 
D)  risk

Question 10

The ideal situation for making decisions is low risk.

Accepted Answer

A) True 
 B)False

Question 11

Unstructured problems ________.

Accepted Answer

A)  are easily solved 
B)  force managers to deal with incomplete or ambiguous information 
C)  present familiar circumstances 
D)  are routine 
A)  are easily solved 
B)  force managers to deal with incomplete or ambiguous information 
C)  present familiar circumstances 
D)  are routine

Question 12

Lower-level managers typically confront what type of decision making?

Accepted Answer

A)  nonroutine 
B)  programmed 
C)  unique 
D)  nonprogrammed 
A)  nonroutine 
B)  programmed 
C)  unique 
D)  nonprogrammed

Question 13

A policy ________.

Accepted Answer

A)  offers strict rules as to how a problem should be solved 
B)  is used frequently when a manager faces a structured problem 
C)  allows little discretion on the part of the manager 
D)  typically contains an ambiguous term 
A)  offers strict rules as to how a problem should be solved 
B)  is used frequently when a manager faces a structured problem 
C)  allows little discretion on the part of the manager 
D)  typically contains an ambiguous term

Question 14

Which of the following statements is true concerning problem identification?

Accepted Answer

A)  A symptom and a problem are basically the same. 
B)  Problems are generally obvious. 
C)  Well-trained managers generally agree on what is considered a problem. 
D)  The problem must be such that it exerts some type of pressure on the manager to act. 
A)  A symptom and a problem are basically the same. 
B)  Problems are generally obvious. 
C)  Well-trained managers generally agree on what is considered a problem. 
D)  The problem must be such that it exerts some type of pressure on the manager to act.

Question 15

Managing Your Career (Scenario)
Maysa has a new job and is learning to perform the tasks assigned to her. Different situations demand different decision-making processes.
-As she learns the general guidelines of the job, Maysa is given more decision-making authority. The guidelines establish parameters for decision making and are referred as a ________.

Accepted Answer

A)  policy 
B)  rule 
C)  broad guideline 
D)  procedure 
A)  policy 
B)  rule 
C)  broad guideline 
D)  procedure

Question 16

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

Accepted Answer

A)  confirmation bias 
B)  availability bias 
C)  self-serving bias 
D)  the anchoring effect 
A)  confirmation bias 
B)  availability bias 
C)  self-serving bias 
D)  the anchoring effect

Question 17

One assumption of rationality is that we cannot know all of the alternatives.

Accepted Answer

A) True 
 B)False

Question 18

A retail clothing store manager who estimates how much to order for the current spring season based on last spring's outcomes is operating under what kind of decision-making condition?

Accepted Answer

A)  risk 
B)  certainty 
C)  uncertainty 
D)  seasonal 
A)  risk 
B)  certainty 
C)  uncertainty 
D)  seasonal

Question 19

A procedure ________.

Accepted Answer

A)  allows a manager to use broad decision-making authority 
B)  is a series of interrelated sequential steps to respond to a structured problem 
C)  is an explicit statement detailing exactly how to deal with a decision 
D)  is a set of guidelines that channel a manager's thinking in dealing with a problem 
A)  allows a manager to use broad decision-making authority 
B)  is a series of interrelated sequential steps to respond to a structured problem 
C)  is an explicit statement detailing exactly how to deal with a decision 
D)  is a set of guidelines that channel a manager's thinking in dealing with a problem

Question 20

Many managers use ________ or rules of thumb to simplify their decision making.

Accepted Answer

A)  errors 
B)  habits 
C)  heuristics 
D)  biases 
A)  errors 
B)  habits 
C)  heuristics 
D)  biases

The availability bias describes when decision makers try to create meaning out of random events.

What is the step where a decision maker wants to be creative in coming up with possible alternative?

Which of the following is important to remember in evaluating the effectiveness of the decision-making process?

Optimistic managers could be expected to utilize their maximax orientation when they ________.

In a short essay, discuss six of the twelve common decision errors and biases that managers make.

________ is a situation in which a manager can make accurate decisions because the outcome of every alternative is known.

A manager who desires to minimize his or her maximum "regret" will opt for a ________ choice.

Managing Your Career (Scenario) Maysa has a new job and is learning to perform the tasks assigned to her. Different situations demand different decision-making processes. -Maysa finds a company directive that specifically restricts her from taking certain actions. This is a ________.

The ideal situation for making decisions is low risk.

Unstructured problems ________.

Lower-level managers typically confront what type of decision making?

A policy ________.

Which of the following statements is true concerning problem identification?

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

One assumption of rationality is that we cannot know all of the alternatives.

A retail clothing store manager who estimates how much to order for the current spring season based on last spring's outcomes is operating under what kind of decision-making condition?

A procedure ________.

Many managers use ________ or rules of thumb to simplify their decision making.

Introduction to Management and Organisations

Management History

Organisational Culture and Environment

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Foundations of Planning

Strategic Management

Organisational Structure and Design

Managing Human Resources

Managing Teams

Managing Change and Innovation

Understanding Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Introduction to Controlling

Managing Operations

Filters

Exam 6: Managers As Decision-Makers

The availability bias describes when decision makers try to create meaning out of random events.

What is the step where a decision maker wants to be creative in coming up with possible alternative?

Which of the following is important to remember in evaluating the effectiveness of the decision-making process?

Optimistic managers could be expected to utilize their maximax orientation when they ________.

In a short essay, discuss six of the twelve common decision errors and biases that managers make.

________ is a situation in which a manager can make accurate decisions because the outcome of every alternative is known.

A manager who desires to minimize his or her maximum "regret" will opt for a ________ choice.

Managing Your Career (Scenario) Maysa has a new job and is learning to perform the tasks assigned to her. Different situations demand different decision-making processes. -Maysa finds a company directive that specifically restricts her from taking certain actions. This is a ________.

The ideal situation for making decisions is low risk.

Unstructured problems ________.

Lower-level managers typically confront what type of decision making?

A policy ________.

Which of the following statements is true concerning problem identification?

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

One assumption of rationality is that we cannot know all of the alternatives.

A retail clothing store manager who estimates how much to order for the current spring season based on last spring's outcomes is operating under what kind of decision-making condition?

A procedure ________.

Many managers use ________ or rules of thumb to simplify their decision making.

Introduction to Management and Organisations

Management History

Organisational Culture and Environment

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Foundations of Planning

Strategic Management

Organisational Structure and Design

Managing Human Resources

Managing Teams

Managing Change and Innovation

Understanding Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Introduction to Controlling

Managing Operations

Filters