Question 1

________ is a situation in which a decision maker cannot make reasonable probability estimates.

Accepted Answer

A)  Necessity 
B)  Risk 
C)  Uncertainty 
D)  Certitude 
A)  Necessity 
B)  Risk 
C)  Uncertainty 
D)  Certitude

Question 2

Julie is keen on joining Columbia University to pursue a masters degree in economics.However, after three months of applying and waiting for an acceptance letter, she finally decides to join NYU, which was one of her backup colleges.This is an example of ________.

Accepted Answer

A)  maximizing 
B)  neutralizing 
C)  minimizing 
D)  satisficing 
A)  maximizing 
B)  neutralizing 
C)  minimizing 
D)  satisficing

Question 3

Sarah's sales figures show that she has been the top performer in her department for the last eight months.Two months prior to her annual performance review, Sarah's sales numbers fell due to her ill health causing her manager to rate her performance as just satisfactory.This is an example of the ________.

Accepted Answer

A)  randomness bias 
B)  availability bias 
C)  self-serving bias 
D)  representation bias 
A)  randomness bias 
B)  availability bias 
C)  self-serving bias 
D)  representation bias

Question 4

Intuitive decision making ________.

Accepted Answer

A)  is the systematic use of the best available evidence to improve decision making practice 
B)  generally results in poor decisions and hence managers should learn to ignore their gut feelings 
C)  is the process of making decisions based on experience, feelings, and accumulated judgment 
D)  complements rational decision making but not bounded rational decision making 
A)  is the systematic use of the best available evidence to improve decision making practice 
B)  generally results in poor decisions and hence managers should learn to ignore their gut feelings 
C)  is the process of making decisions based on experience, feelings, and accumulated judgment 
D)  complements rational decision making but not bounded rational decision making

Question 5

All of the following are aspects of intuition EXCEPT ________.

Accepted Answer

A)  experienced-based decisions 
B)  affect-initiated decisions 
C)  cognitive-based decisions 
D)  programmed decisions 
A)  experienced-based decisions 
B)  affect-initiated decisions 
C)  cognitive-based decisions 
D)  programmed decisions

Question 6

Explain any six decision errors and biases that managers make.

Accepted Answer

a.When decision makers tend to think the

Question 7

Rules and policies are the same.

Accepted Answer

A) True 
 B)False

Question 8

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

Accepted Answer

A) True 
 B)False

Question 9

Sue works in the finance department of a large multinational corporation.Her manager has asked her to submit a detailed report on the department's quarterly expenses within the next two days.Being pressed for time, Sue identifies three courses of action that could help her accomplish her task-she can stretch her working hours till she finishes the report, she can ask her colleague to chip in, or she could ask her manager for additional time.Which stage is Sue at in the decision-making process?

Accepted Answer

A)  selecting an alternative 
B)  identifying decision criteria 
C)  developing alternatives 
D)  evaluating decision effectiveness 
A)  selecting an alternative 
B)  identifying decision criteria 
C)  developing alternatives 
D)  evaluating decision effectiveness

Question 10

A procedure ________.

Accepted Answer

A)  is an explicit statement that tells a manager what can or cannot be done 
B)  is a series of sequential steps a manager uses to respond to a structured problem 
C)  is used mainly for unstructured, rather than structured, problems 
D)  is subject to the interpretation of the decision maker 
A)  is an explicit statement that tells a manager what can or cannot be done 
B)  is a series of sequential steps a manager uses to respond to a structured problem 
C)  is used mainly for unstructured, rather than structured, problems 
D)  is subject to the interpretation of the decision maker

Question 11

________ is a situation where a manager has the ability to make accurate decisions because the outcome of every alternative is known.

Accepted Answer

A)  Certainty 
B)  Risk 
C)  Bureaucracy 
D)  Contingency 
A)  Certainty 
B)  Risk 
C)  Bureaucracy 
D)  Contingency

Question 12

Usually Sharon follows a ________, a series of interrelated sequential steps for responding to a structured problem.

Accepted Answer

A)  rule 
B)  policy 
C)  procedure 
D)  code 
A)  rule 
B)  policy 
C)  procedure 
D)  code

Question 13

Design thinking is an interesting new line of thinking with broad implications for making effective business decisions by integrating emotional elements into the process.

Accepted Answer

A) True 
 B)False

Question 14

When decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance, they are exhibiting the ________.

Accepted Answer

A)  selective perception bias 
B)  the anchoring effect 
C)  self-serving bias 
D)  overconfidence bias 
A)  selective perception bias 
B)  the anchoring effect 
C)  self-serving bias 
D)  overconfidence bias

Question 15

Define intuitive decision making and identify the five different aspects of intuition.

Accepted Answer

Intuitive decision making is the process

Question 16

Which of the following is an example of a policy?

Accepted Answer

A)  Before going on a leave of absence, fill up the application form available on the company's online leave management system. All applications will be approved/rejected within two days by the employee's immediate supervisor. 
B)  Employees working with power tools must wear safety glasses at all times. 
C)  Smoking and the consumption of alcohol are strictly prohibited inside the work premises. 
D)  We are an equal opportunity employer with a diverse workforce. We do not discriminate against employees and applicants on the basis of sex, race, color, religion, national origin, age, disability, marital status, sexual orientation or veteran status. 
A)  Before going on a leave of absence, fill up the application form available on the company's online leave management system. All applications will be approved/rejected within two days by the employee's immediate supervisor. 
B)  Employees working with power tools must wear safety glasses at all times. 
C)  Smoking and the consumption of alcohol are strictly prohibited inside the work premises. 
D)  We are an equal opportunity employer with a diverse workforce. We do not discriminate against employees and applicants on the basis of sex, race, color, religion, national origin, age, disability, marital status, sexual orientation or veteran status.

Question 17

Michelle eventually finds a problem that has no cut-and-dry solution.The problem is unique and is unlikely to occur again.This problem is ________ in nature.

Accepted Answer

A)  structured 
B)  programmed 
C)  scheduled 
D)  nonprogrammed 
A)  structured 
B)  programmed 
C)  scheduled 
D)  nonprogrammed

Question 18

When managers make decisions that are rational but limited by their ability to process the information, they are following the concept of ________.

Accepted Answer

A)  cognitive decision making 
B)  bounded rationality 
C)  escalation of commitment 
D)  intuitive decision making 
A)  cognitive decision making 
B)  bounded rationality 
C)  escalation of commitment 
D)  intuitive decision making

Question 19

The ________ describes how decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information.

Accepted Answer

A)  anchoring effect 
B)  selective perception effect 
C)  confirmation bias 
D)  framing bias 
A)  anchoring effect 
B)  selective perception effect 
C)  confirmation bias 
D)  framing bias

Question 20

Highly reliable organizations (HROs) are easily tricked by their success.

Accepted Answer

A) True 
 B)False

________ is a situation in which a decision maker cannot make reasonable probability estimates.

Julie is keen on joining Columbia University to pursue a masters degree in economics.However, after three months of applying and waiting for an acceptance letter, she finally decides to join NYU, which was one of her backup colleges.This is an example of ________.

Intuitive decision making ________.

All of the following are aspects of intuition EXCEPT ________.

Explain any six decision errors and biases that managers make.

Rules and policies are the same.

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

A procedure ________.

________ is a situation where a manager has the ability to make accurate decisions because the outcome of every alternative is known.

Usually Sharon follows a ________, a series of interrelated sequential steps for responding to a structured problem.

Design thinking is an interesting new line of thinking with broad implications for making effective business decisions by integrating emotional elements into the process.

When decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance, they are exhibiting the ________.

Define intuitive decision making and identify the five different aspects of intuition.

Which of the following is an example of a policy?

Michelle eventually finds a problem that has no cut-and-dry solution.The problem is unique and is unlikely to occur again.This problem is ________ in nature.

When managers make decisions that are rational but limited by their ability to process the information, they are following the concept of ________.

The ________ describes how decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information.

Highly reliable organizations (HROs) are easily tricked by their success.

Management and Organizations

Understanding Management: Constraints and Challenges

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Foundations of Planning

Strategic Management

Managerial Controls

Basic Organizational Design

Adaptive Organizational Design

Managing Human Resources

Managing Teams

Understanding Individual Behavior

Managers and Communication

Motivating Employees

Managers As Leaders

Filters

Exam 6: Managers As Decision Makers

________ is a situation in which a decision maker cannot make reasonable probability estimates.

Julie is keen on joining Columbia University to pursue a masters degree in economics.However, after three months of applying and waiting for an acceptance letter, she finally decides to join NYU, which was one of her backup colleges.This is an example of ________.

Intuitive decision making ________.

All of the following are aspects of intuition EXCEPT ________.

Explain any six decision errors and biases that managers make.

Rules and policies are the same.

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

A procedure ________.

________ is a situation where a manager has the ability to make accurate decisions because the outcome of every alternative is known.

Usually Sharon follows a ________, a series of interrelated sequential steps for responding to a structured problem.

Design thinking is an interesting new line of thinking with broad implications for making effective business decisions by integrating emotional elements into the process.

When decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance, they are exhibiting the ________.

Define intuitive decision making and identify the five different aspects of intuition.

Which of the following is an example of a policy?

Michelle eventually finds a problem that has no cut-and-dry solution.The problem is unique and is unlikely to occur again.This problem is ________ in nature.

When managers make decisions that are rational but limited by their ability to process the information, they are following the concept of ________.

The ________ describes how decision makers fixate on initial information as a starting point and then, once set, fail to adequately adjust for subsequent information.

Highly reliable organizations (HROs) are easily tricked by their success.

Management and Organizations

Understanding Management: Constraints and Challenges

Managing in a Global Environment

Managing Diversity

Managing Social Responsibility and Ethics

Managing Change and Innovation

Foundations of Planning

Strategic Management

Managerial Controls

Basic Organizational Design

Adaptive Organizational Design

Managing Human Resources

Managing Teams

Understanding Individual Behavior

Managers and Communication

Motivating Employees

Managers As Leaders

Filters