Exam 8: Decision Making and Problem Solving

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

(Multiple Choice)
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______ represents a coming together of all the scattered thoughts and ideas that were maturing during incubation.

(Short Answer)
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The rational decision-making process begins with the identification of a problem.

(True/False)
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Match the following: -insight

(Multiple Choice)
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Discuss the various steps of the rational decision-making process, then apply the steps to a either a personal or professional decision that you had to make.

(Essay)
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Being able to see differences between situations, phenomena, or events is a creative ability called _____ thinking.

(Multiple Choice)
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Contingency plans are a part of what phase of the decision-making process?

(Multiple Choice)
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Prospect theory argues that when people make decisions under conditions of _____ they are more motivated to avoid losses than they are to seek gains.

(Multiple Choice)
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The basic elements of decision making include ______ that guide the decision maker's actions.

(Short Answer)
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Programmed decisions usually require the decision maker to utilize different decision rules.

(True/False)
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Which of the following represents the step of the rational decision-making approach in which the outcomes of the decision are compared to the desired goal?

(Multiple Choice)
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Cognitive abilities are an individual's power to think intelligently and to analyze situations and data effectively.

(True/False)
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Discuss the factors that make a person more creative. Analyze your own approach to decision making based on these factors.

(Essay)
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A decision maker's actions are guided by

(Multiple Choice)
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The rational decision-making approach assumes all of these EXCEPT that decision makers

(Multiple Choice)
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Explain how intuition, escalation of commitment and risk propensity alter the assumptions of the rational decision-making model?

(Essay)
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Because of the unrealistic demands of the rational approach and the limited, short-term orientation of the behavioral approach, neither is entirely satisfactory.

(True/False)
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Contingency plans are alternative actions that can be taken if the primary course of action is disrupted or rendered inappropriate.

(True/False)
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Prospect theory argues that when people make decisions under conditions of _____ they are more motivated to avoid losses than they are to seek gains.

(Short Answer)
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Define the terms satisficing and suboptimizing, and describe a situation in which you satisficed and a situation in which you suboptimized.

(Essay)
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