Exam 3: Managerial Decision Making

The psychological bias known as "illusion of control" refers to a belief that:

In goal displacement,a decision-making group loses sight of its original goal and a new,less important goal emerges.

A firm's decision regarding diversification into new products and markets is a(n)example of a _____ decision.

Differentiate between programmed and nonprogrammed decisions.Give an example of each.

In brainstorming,group members generate as many ideas about a problem as they can while simultaneously critiquing them.

Alternative courses of action that can be implemented based on how the future unfolds are referred to as _____.

Jacob,a marketing manager,has to layoff either George or Tom,marketing executives,due to the downsizing process that's going on in the organization.However,Jacob cannot decide whom to layoff,since he doesn't want to dismiss both of them.In this case,Jacob is having a difficult time making a decision due to experiencing _____ conflict.

Managers who optimize their decisions will attempt to:

Important,difficult decisions tend to be nonprogrammed,and they demand creative approaches.

When a group accepts an alternative that seems to please the members of the group,but the group has not taken the time or effort to explore many options,the group has _____.

Once a problem is identified and properly diagnosed,the next phase in the decision-making process involves _____.

A school principal faces conflict when she must decide whether to give all staff an 8 percent pay cut or lay off four full-time employees.

Which of the following is a characteristic of managerial decisions that contributes to the difficulty in making a decision?

List and briefly explain the six phases of the decision-making process.

The fact that Phil's decisions are usually focused on short-term benefits and costs rather than that of long-term is an example of _____.

One potential advantage of using a group for decision making is that people are likely to be more committed to the decision.

Nicole,a manager at Purple Lotus Inc. ,was disappointed with her team's discussion regarding next year's marketing campaign.Adam,a fellow manager,pushed all his ideas through;they were good,but nobody else got a word in or had the opportunity to share.This group experienced _____.

Managers use satisficing to achieve the best possible outcome.

Explain the four disadvantages of using a group to make decisions.

Only after a decision is made and implemented,the contingency plans should be developed.