Exam 9: Managerial Decision Making

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The classical model of decision-making works best in organizations that are made up of groups with diverse interests, goals, and values.

(True/False)
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The step in the decision making process in which managers analyze the underlying causal factors associated with the situation is called _____.

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Scenario - Vaughn Bately Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Vaughn's engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Vaughn wasn't certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision. -Which of the following steps would Vaughn not take in making his decision?

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_____ is important because decision making is a continuous, never ending process.

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The most effective managers are consistent in using their own decision style rather than shifting among styles.

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The _____ model of decision making is most valuable when applied to _____.

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The _____ step in the decision making process involves using managerial, administrative, and persuasive abilities to translate the chosen alternative into action.

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Which of these styles is adopted by managers who have a deep concern for others as individuals?

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_____ refers to the process of identifying problems and then resolving them.

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The growth of quantitative decision techniques that use computers has expanded the use of which decision-making approach?

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Briefly describe the assumptions underlying the classical model of decision making.

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Making a choice is the most significant part of the decision-making process.

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When managers base decisions on what has worked in the past and fail to explore new options, they are:

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Which model of decision making is associated with satisficing, bounded rationality, and uncertainty?

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Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

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_____ is the willingness to undertake risk with the opportunity of gaining an increased payoff.

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All of the following are cognitive biases that can affect manager's judgment except:

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The _____ model of decision making describes how managers actually makes decisions in situations characterized by nonprogrammed decisions, uncertainty, and ambiguity.

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When a small community hospital decides to add a radiation therapy unit, it is considered a:

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Explain the difference between programmed and nonprogrammed decisions and give an example of each.

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