Exam 8: Managing Decision Making and Problem Solving

The CEO of a company decided to leave Connecticut because the taxes were some of the highest in the country.  He limited the search for a new location to Georgia, South Carolina, and North Carolina because taxes are much better there and the cost of living is about 20 percent cheaper.  Some employees felt there were more factors to consider.  The CEO engaged in

Everyone loved Steve's idea when he first suggested it. Upon further evaluation some challenges arose, but Steve was convinced he could make it work. When another alternative was introduced Steve clung to his approach, convinced it was the best. Steve experienced a(n) ____________________.

Decisions that are routine and deal with situations in which the factors are familiar and have occurred in the past are called ____ decisions.

The U.S. government has never faltered on its debt payments, although it came close in August, 2011. Investing in treasury bills is an example of

Under which decision-making condition is the decision maker unaware of all the alternatives and the risks and consequences associated with each alternative?

One advantage of group decision making is

Mario wants to replace his bathroom. He called the contractor who did his kitchen five years ago and hired him. Mario used

As a result of increased information, groups and teams typically can identify and evaluate more alternatives than can one person.

Joyce wants to decrease turnover. She can change hiring practices, improve benefits, improve wages, or provide an annual bonus. She chooses a year-end bonus because it keeps payroll lower and should quickly affect turnover. This example suggests that Joyce is at which step in the decision-making process?

If you make a decision that does not turn out as planned Warren Buffet advises, "When you find yourself in a hole, stop digging." What behavioral influence on decision making does this advice attempt to prevent?

Donald Davis has to decide what pickup trucks to buy for his extermination company employees to drive. There are eight different manufacturers and countless models from which to choose. He stops at a Dodge dealership and selects the full-sized model because he does not have much time to spend shopping and because this truck will do the job. What term Herbert Simon use to describe Davis' decision-making actions?

Sy.Med Development, Inc. is the only company that has credentialing application software for physicians and managed care organizations, and it provides complete support for the software.. Credentialing applications must be submitted to each insurance provider annually and can be a very labor-intensive process. A physician's office in Montana that wants to buy or use the software would be making the purchase decision

Baldur chose to cut cable service to his home to save money. He knew he could still get local over-the-air service for free and view some entertainment on the Web. He knew each cost and his viewing options. This is an example of

In more and more organizations today, important decisions are made by individuals rather than by groups and teams.

The decision to hire a janitorial service, buy a fleet of sales vehicles, or hire a public relations expert are all examples of decisions made

The CEO is retiring. Two candidates for the job remain. Three division heads support Alex. The other four division heads support Pat. These alliances can be called

Diaz Nesamoney is a computer scientist who founded three successful software companies. Entrepreneurs tend to have a high ____

Decisions that are unethical may pass one or two decision criteria, but they fail the ____ test.

____ may explain why publishers are more likely to publish a children's book by a recognizable celebrity like Katie Couric than to consider a beautifully illustrated and written book by an unknown author.

The first step in the decision-making process is