Exam 8: Fundamentals of Decision Making

Dunkin' Donuts executives continue to discuss dropping the word "donut" from its sign to convey that its menu is now broader.

After individuals or teams have searched for alternative solutions, they must then __________.

Power is the ability to influence or control individual, team, departmental, or organizational decisions and goals.

In the Communication Competency feature, John Wade, chief information officer at St. Luke's Health System, reports on _____________ interpersonal communications he experienced.

R. David Hoover, chairman, CEO, and president of the Ball Corporation, says he spend 75% of his time ______________.

When a few incidents or cases are viewed as representative of a larger population, even when they aren't, the law of _________ bias exists.

In the political model, external and internal stakeholders try to __________.

Routine decisions are the standard choices made in response to relatively well-defined and common problems and alternative solutions.

The types of __________ available to managers in trying to solve problems range from the known and well defined to the untried and ambiguous.

In the bounded rationality model, individuals stop searching for alternatives as soon as they __________.

Atul Jain was in a serious car accident last year. The National Safety Transportation Board says that one half of one percent of all drivers will be in car accidents each year. However, Jain thinks that the actual frequency is 5 percent. He has most likely fallen prey to the ___________ bias.

What type of decision would be made when: (1) the problem is common and well defined, (2) the problem and alternative solutions are only moderately unusual, and (3) the problems are unusual and ambiguous? Give an example of each.

In phase 1 in the rational decision-making model, the skill of __________ involves assessing the environmental factors noticed and determining which are causes, not merely symptoms, of the real problem.

Innovative decisions are based on the discovery, identification, and diagnosis of unusual and ambiguous problems and/or the development of unique or creative alternative solutions.

The level of satisficing can be raised by all of the following except __________.

The law of small numbers bias refers to the tendency to view a few incidents or cases as representative of a larger population even when they aren't.

When an individual does not have the necessary information to assign probabilities to the outcomes of alternative solutions, a decision is made under the condition of __________.

As information dwindles and becomes ambiguous, the condition of __________ enters into decision making.