Exam 9: Managing Decision Making and Problem Solving

In which of the following decision-making conditions is the decision maker aware of all of the alternatives and able to assign probabilities to the costs and payoffs of each alternative?

A(n)____ decision-making model describes how decisions are made rather than prescribing how they should be made.

The CIO at Canon is considering an information system upgrade.He goes to each of the division heads to discuss their information needs and system capabilities.The CIO narrows the options,and contacts the executives again,reaching agreement before purchasing a system.Which group decision-making technique does this represent?

An effective decision may be one that minimizes loss,expenses,or employee turnover.

You are trying to hire a new engineer.She has all of the qualifications you want,with one exception.As a decision alternative,this engineer fails the test of feasibility.

The administrative model of decision making looks at how decisions are ____________________ rather than how they should be made.

Match the following.You may use a response once,more than once,or not at all.

Which of the following statements BEST describes bounded rationality?

Zhenfu invested his savings in a bank certificate of deposit because that is where he has always put his savings,and because he is very concerned about the safety of his investment.Zhenfu knows at the end of two years he will have $52,546.73.He is operating under the decision-making condition known as risk.

Bounded rationality is a concept suggesting that decision makers are limited by their ____________________,unconscious reflexes,skills and habits.

A(n)____ is an informal group allied together for a common purpose.

Caving into peer pressure is a disadvantage of ____.

Managers at LEO Corporation scrutinize problems until they have all of the information they feel they need to make a decision and discuss every alternative while focusing on facts and eliminating assumptions.Which decision-making model does this most closely resemble?

Renee made a bad decision.She stays with it,trying to convince others it was a good decision.This is an example of

The first step in using the Delphi procedure is to

Gut feeling is another name for ____________________.

The proper sequence for evaluating a decision alternative is satisfactoriness,probable consequences,and feasibility.

A disadvantage of using interacting groups to make decisions is

When evaluating decision alternatives,the manager should check ____________________,satisfactoriness,and probable consequences.

When Eric selected Janine for the marketing position,he had a feeling she would fit into the culture of the department.Eric used ____ to fill the position.