Exam 4: Foundations of Decision Making

A manager wants to invest in one of three start-up companies.All three of the companies seem to have a good business plan.None of the companies has a track record.The manager is operating under which condition?

A top-level manager is most likely to solve problems under which condition?

Decisions made by individuals typically suffer from suspicions that the decision maker ________.

A drawback of group decision making is groupthink.

Structured problems are ________.

Which pair of terms is correctly matched up?

Managers in organizations make group decisions ________.

When dealing with international organizations, managers must be ________ in order to accommodate the managing styles of different cultures.

The three main models that managers use to make decisions are ________.

Structured problems typically have ________ while unstructured problems typically have ________.

Managers identify a problem by comparing the current state of affairs to some standard.

A scientist cites two studies that show a positive effect for her drug and ignores five other studies that show a negative effect.Which error or bias is she committing?

Two major advantages of electronic meetings are anonymity and honesty.

A manager has a choice of three bank CDs that pay different amounts of fixed interest over different time periods.The manager is operating under which condition?

It is assumed that in most cases the decisions of all managers are limited by ________.

Software programs that use a series of questions to aid humans in decision making are called ________.

Which of the following would be a fairly objective criterion by which a bicycle buyer could assess different bike models?

In decision making, a problem can be defined as a discrepancy between what exists and what the problem solver desires to exist.

The expression "throwing good money after bad" is an example of an escalation of commitment.

Which term best characterizes a decision that has bounded rationality?