Exam 8: Decision Making

Colleen is a student, and her older brother has loaned her an old car. The car is in need of several repairs before she will feel comfortable driving it. -Before talking with an automotive repair person,Colleen needs to assess which factors are relevant to her decision.The car needs new brakes,tires,a muffler,a tune-up,and could also use some bodywork to repair dents and scratches.After consideration,Colleen decides that safety and reliability are relevant.This is which step in the decision-making process?

Which step in the decision-making process involves conveying the decision to those affected by it and getting their commitment to it?

A ________ decision is repetitive and can be handled by a routine approach.

Which of the following decisions involves the management function of controlling?

Availability bias distorts the decision maker's ability to recall events in an objective manner and focus on events that are most recent and vivid in their memory.

Nonprogrammed decisions are typically made under a condition of ________.

Intuitive decision making is based on values and past experiences.

A perfectly rational decision maker would ________.

________ is using math modelling,and predictive algorithms to measure and monitor people and machines to assist in decision making.

The phenomenon of escalation of commitment refers to an increased commitment to a previous decision despite evidence that it may have been wrong.

To determine the ________,a manager must identify the factors that are relevant to resolving the problem.

Whenever possible,managers at ABC Company try to promote employees from within the organization before recruiting from external sources.This is an example of a ________.

Nonprogrammed decisions are best described as ________.

Linear thinking style ignores external data and facts and relies directly on the decision maker's internal information processing.

Frank is president of Mega Manufacturing, a Canadian company that makes automobile parts. Sales and profits are down sharply this quarter, and Frank needs to analyze the series of events that have led to the poor performance. Frank begins by reviewing his recent interactions with Mike, the vice-president of sales. -Last week when Frank asked Mike how his presentation to a large Japanese car maker went,Mike replied,"My presentation was brilliant! They loved me! I am positive we will get the contract!" Mike's overly positive view of his performance demonstrates which of the following?

A(n)________ occurs when decision makers take credit for their successes and blame failures on outside factors.

Which of the following decisions involves the management function of planning?

It seems Dave spends most of his day making decisions. Every time he turns around, someone wants him to make a decision about something. This morning, the office assistant came in and asked if she could reorder paper for the fax machine. That seemed like a routine decision that he should not have to deal with. If Dave could avoid those types of decisions, then he could focus more time and attention on the more complicated issues, such as the one presented to him by the production supervisor this afternoon. According to the supervisor, a major piece of equipment urgently needs repairs, and the repair bill could cost almost as much as a new machine! -Dave tells his office assistant that in future,she is authorized to order 10 boxes of fax paper whenever they are down to their last box.To handle this problem,Dave has used a type of decision called a ________.

Evidence-based management relies heavily on the decision maker's intuition.

It seems Dave spends most of his day making decisions. Every time he turns around, someone wants him to make a decision about something. This morning, the office assistant came in and asked if she could reorder paper for the fax machine. That seemed like a routine decision that he should not have to deal with. If Dave could avoid those types of decisions, then he could focus more time and attention on the more complicated issues, such as the one presented to him by the production supervisor this afternoon. According to the supervisor, a major piece of equipment urgently needs repairs, and the repair bill could cost almost as much as a new machine! -The problem of whether to repair a piece of equipment or to purchase a new machine is an example of a(n)________ problem.