Exam 7: Individual and Group Decision Making: How Managers Make Things Happen

With the community interested in eating healthy,Sue Ellen,a restaurant owner,is considering adding more vegetarian dishes to her menu.This decision is uncertain and risky,and she finally decides to goes with her gut feelings.This is an example of _______.

The predisposition in which people's subjective confidence in their decision making is greater than their objective accuracy is ____.

Jose,the sales manager,is working on the problem of increasing sales by using the rational model of decision making.In the first step he identified the problem of his employees needing more training.In the second step he thought of alternative solutions;and in step three he evaluated alternatives and selected a solution.In the fourth step,Jose needs to _____.

Regarding decision making,research has found that ____.

Paul,the store manager,recently had to fire Sue,an employee who graduated from North College.He felt that Sue was not well trained at her school.So when Steven,also a graduate from North College,applied for Sue's old position,he did not want to consider hiring him,feeling Steven also probably did not receive the proper training.Paul was affected by _____ bias.

Readily available information may not present a complete picture of a situation due to ____.

A decision tree,which is the hierarchy or chain of command used by many organizations when discussing alternatives,must be followed when getting decisions approved.

Define and describe analytics.Give an example of an organization using analytics and how they are using it.

The basic reason female investors make trades much less often than men is that women do a lot more research,and tend to base their investment decisions on considerations other than just numbers.

Companies that use evidence-based management seldom defeat their competition.