Exam 8: Decision Making and Problem Solving

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Which of the following is true about brainstorming?

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E

Which of the following is true about intuition?

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B

According to the rational decision-making approach, what is the second step of the decision-making process?

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A

Match each of the following situations with the concept it most clearly illustrates. a.Hugh needs to buy a new laptop.He searches online until he finds the first laptop that fits his price and performance needs, and then he immediately buys it. b.In a hand of poker, Kevin makes a bid and Thandeka calls.Later, Kevin makes a higher bid, and Thandeka calls again.At the end of the hand, when Thandeka goes all in, Kevin is almost certain she has the better cards.However, because he has already invested so much in the hand, Kevin feels obliged to call. c.On paper, the candidate seems excellent, so Nina invites him for an interview, which goes swimmingly.Still, something about the guy seems 'off' to Nina, and though she can't put her finger on what it is, she hires someone else. d.Unathi knows that the laptop she is about to buy from the electronics store is both more expensive and of lower quality than a laptop she could buy online.However, she desperately needs a laptop immediately, so she goes ahead with the purchase. -suboptimising

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The practical approach combines elements of both the rational and behavioural approaches.

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To help prevent groupthink, leaders should assign the role of '__________' to each group member to allow each member to voice objections and doubts freely.

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When __________ arises, a decision maker questions the decision made and searches for information to bolster it.

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The Delphi technique is a method of systematically gathering the judgements of experts who work closely together at a common worksite.

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The information needed to make a programmed decision is __________ available, and the problem is __________ structured.

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__________ is a person's ability to generate new ideas or to conceive of new perspectives on existing ideas.

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Contingency plans are a part of which phase of the decision-making process?

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If a customer voices a complaint about food taste and temperature, certain restaurants always offer a complimentary meal.This represents

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The fourth step of the creative process is

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Mandla purchases shares in a public company and refuses to sell them even after repeated drops in the original price he paid for the shares.Mandla has decided to purchase more of the shares in anticipation of making a profit, and has decided to keep the shares in the face of increasing losses.Mandla is suffering from

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The creative process normally begins with a period of

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Decisions that recur infrequently and have no decision rules are __________ decisions.

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A crucial assumption of the behavioural approach to decision-making is that decision makers operate with bounded rationality rather than with the perfect rationality assumed by the rational approach.

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According to prospect theory, people are more motivated by

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Which of the following does NOT tend to be one of the toughest managerial decisions?

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Which of the following statements about programmed decisions is false?

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