Question 1

The ________ is when decision makers tend to remember events that are the most recent and vivid in their memory.

Accepted Answer

A) sunk costs error 
B) hindsight bias 
C) availability bias 
D) representation bias 
E) selective perception bias 
A) sunk costs error 
B) hindsight bias 
C) availability bias 
D) representation bias 
E) selective perception bias

Question 2

A thinking style only reflects the type of information preferred by the decision maker.

Accepted Answer

A) True 
 B)False

Question 3

When decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events, they are using ________.

Accepted Answer

A) availability bias 
B) framing bias 
C) confirmation bias 
D) selective perception bias 
E) representation bias 
A) availability bias 
B) framing bias 
C) confirmation bias 
D) selective perception bias 
E) representation bias

Question 4

Accepting solutions that are 'good enough' is termed satisfice.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following would best describe the psychological orientation of an individual making a 'maximax' type of choice?

Accepted Answer

A) optimist 
B) realist 
C) pessimist 
D) satisficer 
E) extremist 
A) optimist 
B) realist 
C) pessimist 
D) satisficer 
E) extremist

Question 6

The step in the decision-making process that involves choosing a best alternative is termed 'implementation'.

Accepted Answer

A) True 
 B)False

Question 7

The simplest way to handle structured problems is through ________ decision making.

Accepted Answer

A) linear 
B) unique 
C) focused 
D) hit-and-miss 
E) programmed 
A) linear 
B) unique 
C) focused 
D) hit-and-miss 
E) programmed

Question 8

The First Job
Upon graduation, you search for a job with the university's job placement centre.Although you have studied and prepared to work in an advertising agency, the first job that you are offered is a supervisor in a manufacturing company working the afternoon shift from 3:00 pm until 11:00 pm.
-Refer to The First Job (Scenario).During your job search, you depend on ________ decision making by making your decision based on accumulated judgment and experience.

Accepted Answer

A) experiential 
B) legal 
C) intuitive 
D) maximax 
E) formidable 
A) experiential 
B) legal 
C) intuitive 
D) maximax 
E) formidable

Question 9

The type of decision making in which the solution is considered 'good enough' is known as which of the following?

Accepted Answer

A) intuition 
B) rational 
C) maximising 
D) satisficing 
E) 'gut feeling' 
A) intuition 
B) rational 
C) maximising 
D) satisficing 
E) 'gut feeling'

Question 10

When problems are ________, managers must rely on ________ in order to develop unique solutions.

Accepted Answer

A) structured; non-programmed decision making 
B) structured; pure intuition 
C) unstructured; non-programmed decision making 
D) unstructured; programmed decision making 
E) semi structured; programmed decision making 
A) structured; non-programmed decision making 
B) structured; pure intuition 
C) unstructured; non-programmed decision making 
D) unstructured; programmed decision making 
E) semi structured; programmed decision making

Question 11

What is the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known?

Accepted Answer

A) the hindsight bias 
B) the sunk costs error 
C) the randomness bias 
D) randomness bias 
E) the selective perception bias 
A) the hindsight bias 
B) the sunk costs error 
C) the randomness bias 
D) randomness bias 
E) the selective perception bias

Question 12

Which of the following best describes 'maximising the minimum possible payoff'?

Accepted Answer

A) maximax 
B) maximin 
C) minimax 
D) minimin 
E) miximix 
A) maximax 
B) maximin 
C) minimax 
D) minimin 
E) miximix

Question 13

In a short essay, discuss bounded rationality and satisficing.

Accepted Answer

Despite the limits to perfect rationalit

Question 14

Which of the following is NOT an 'organising' decision?

Accepted Answer

A) What are the organisation's long-term objectives? 
B) How many employees should I have report directly to me? 
C) How should jobs be designed? 
D) How much centralisation should there be in an organisation? 
E) When should the organisation implement a different structure? 
A) What are the organisation's long-term objectives? 
B) How many employees should I have report directly to me? 
C) How should jobs be designed? 
D) How much centralisation should there be in an organisation? 
E) When should the organisation implement a different structure?

Question 15

In a short essay, discuss the difference between well-structured and unstructured problems.Include specific examples of each type of problem to support your answer.Next, discuss the type of decisions that would be used to address each of these problems.

Accepted Answer

a. Well-structured problems - The goal o

Question 16

A ________ provides guidelines to guide a manager's thinking in a specific direction.

Accepted Answer

A) system 
B) rule 
C) solution 
D) policy 
E) procedure 
A) system 
B) rule 
C) solution 
D) policy 
E) procedure

Question 17

In identifying a problem, a manager ________.

Accepted Answer

A) expects problems to be very obvious 
B) looks for discrepancies that can be postponed 
C) avoids acting under pressure or stress 
D) compares the current state of affairs with where they want to be 
E) both A and D 
A) expects problems to be very obvious 
B) looks for discrepancies that can be postponed 
C) avoids acting under pressure or stress 
D) compares the current state of affairs with where they want to be 
E) both A and D

Question 18

________ is the condition in which the decision maker is able to estimate the likelihood of certain outcomes.

Accepted Answer

A) Certainty 
B) Risk 
C) Uncertainty 
D) Maximax 
E) Maximin 
A) Certainty 
B) Risk 
C) Uncertainty 
D) Maximax 
E) Maximin

Question 19

Which thinking and decision-making style is superior to the others?

Accepted Answer

A) linear thinking because it relies on strong, hard facts 
B) non-linear thinking because it is quick and easy 
C) linear thinking because it is quick and easy 
D) non-linear thinking because it relies on strong, hard facts 
E) none of them is superior to the others, they are simply different ways of thinking 
A) linear thinking because it relies on strong, hard facts 
B) non-linear thinking because it is quick and easy 
C) linear thinking because it is quick and easy 
D) non-linear thinking because it relies on strong, hard facts 
E) none of them is superior to the others, they are simply different ways of thinking

Question 20

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

Accepted Answer

A) availability bias 
B) selective perception 
C) self-serving bias 
D) confirmation bias 
E) the anchoring effect 
A) availability bias 
B) selective perception 
C) self-serving bias 
D) confirmation bias 
E) the anchoring effect

The ________ is when decision makers tend to remember events that are the most recent and vivid in their memory.

A thinking style only reflects the type of information preferred by the decision maker.

When decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events, they are using ________.

Accepting solutions that are 'good enough' is termed satisfice.

Which of the following would best describe the psychological orientation of an individual making a 'maximax' type of choice?

The step in the decision-making process that involves choosing a best alternative is termed 'implementation'.

The simplest way to handle structured problems is through ________ decision making.

The type of decision making in which the solution is considered 'good enough' is known as which of the following?

When problems are , managers must rely on in order to develop unique solutions.

What is the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known?

Which of the following best describes 'maximising the minimum possible payoff'?

In a short essay, discuss bounded rationality and satisficing.

Which of the following is NOT an 'organising' decision?

In a short essay, discuss the difference between well-structured and unstructured problems.Include specific examples of each type of problem to support your answer.Next, discuss the type of decisions that would be used to address each of these problems.

A ________ provides guidelines to guide a manager's thinking in a specific direction.

In identifying a problem, a manager ________.

________ is the condition in which the decision maker is able to estimate the likelihood of certain outcomes.

Which thinking and decision-making style is superior to the others?

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

Managers in the Workplace

Management History

Managing the External Environment and Organisational Culture

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Managing Change and Innovation

Foundations of Planning

Strategic Management

Managerial Controls

Managing Operations

Organisational Structure and Design

Managing Teams

Managing Human Resources

Understanding and Managing Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Filters

Exam 6: Managers As Decision Makers

The ________ is when decision makers tend to remember events that are the most recent and vivid in their memory.

A thinking style only reflects the type of information preferred by the decision maker.

When decision makers assess the likelihood of an event based on how closely it resembles other events or sets of events, they are using ________.

Accepting solutions that are 'good enough' is termed satisfice.

Which of the following would best describe the psychological orientation of an individual making a 'maximax' type of choice?

The step in the decision-making process that involves choosing a best alternative is termed 'implementation'.

The simplest way to handle structured problems is through ________ decision making.

The type of decision making in which the solution is considered 'good enough' is known as which of the following?

When problems are ________, managers must rely on ________ in order to develop unique solutions.

What is the tendency for decision makers to falsely believe that they would have accurately predicted the outcome of an event once that outcome is actually known?

Which of the following best describes 'maximising the minimum possible payoff'?

In a short essay, discuss bounded rationality and satisficing.

Which of the following is NOT an 'organising' decision?

In a short essay, discuss the difference between well-structured and unstructured problems.Include specific examples of each type of problem to support your answer.Next, discuss the type of decisions that would be used to address each of these problems.

A ________ provides guidelines to guide a manager's thinking in a specific direction.

In identifying a problem, a manager ________.

________ is the condition in which the decision maker is able to estimate the likelihood of certain outcomes.

Which thinking and decision-making style is superior to the others?

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments, they are exhibiting ________.

Managers in the Workplace

Management History

Managing the External Environment and Organisational Culture

Managing in a Global Environment

Social Responsibility and Managerial Ethics

Managing Change and Innovation

Foundations of Planning

Strategic Management

Managerial Controls

Managing Operations

Organisational Structure and Design

Managing Teams

Managing Human Resources

Understanding and Managing Individual Behaviour

Managers and Communication

Motivating Employees

Managers As Leaders

Filters

When problems are , managers must rely on in order to develop unique solutions.