Exam 8: Fundamentals of Decision Making

In the rational decision-making model, the phase that immediately follows the search for alternative solutions is __________.

When John Quinn has to make decisions concerning problems that are both ambiguous and unusual, he makes decisions under a condition of __________.

The bounded rationality model prescribes a set of phases that individuals or teams should follow to increase likelihood that their decisions will be logical and optimal.

Which of the following is not one of the decision-making models discussed in the decision making chapter?

How does continuous improvement relate to decision making? What goals drive the process of continuous improvement?

Paul Castaneda, a management professor, attempts to decide why women and minorities are not moving faster into management positions. Castaneda is faced with a(n) __________ problem.

John Wade decided that after working for Polaroid Corporation for 2 months, he had had enough of his boss and resigned.

Matthew Smith, founder of Shoes for Crews, attributes the __________ as a critical factor in the company's success.

Continuous improvement requires commitment toward occasional improvements year after year.

Adaptive decisions sometimes reflect the concept of __________. This is a business shift in which two connections with the customer that were previously viewed as competing (e.g., bricks-and mortar stores and Internet stores) come to be seen as complementary.

The idea that what people expect to see often is what they do see is an example of the __________ bias.

The __________ bias occurs when an unexpected number of similar events leads to the conviction that an event not seen will occur.

___________ are results to be attained and thus indicate the direction that decisions and actions should be aimed.

_________ underlies most managerial competencies.

Problem-solving underlies most managerial competencies.

Which of the following considerations provide an underpinning to the basic types of decisions that managers make?

Franklin Lee, a plant manager, has agreed to select an acceptable goal or alternative solution rather than searching for the best available goal or alternative solution. This concept is known as satisficing.

When making __________ decisions under near certain conditions, individuals don't need to follow all of the phases in the rational decision making model.

When making adaptive or innovative decisions, individuals __________ follow the seven phases of rational decision making sequentially.

Whirlpool sees _______ as its differentiating strategy.