Exam 8: Managerial Decision Making

Mark, a production manager at Kaylie's Kookware, recently chose to schedule his workers to work overtime. His alternative was to hire more workers. He is now monitoring the consequences of his choice. This is an example of

People who prefer simple, clear-cut solutions to problems use the directive style.

Which of the following means that a decision has clear-cut goals and that good information is available, but the future outcomes associated with each alternative are subject to chance?

A normative decision making model defines how a manager ____________________ make decisions.

Which approach defines how a decision-maker should make decisions?

____________________ is the willingness to undertake risk with the opportunity of gaining an increased payoff.

____ is a vital part of good management because decisions determine how the organization solves its problems, allocates resources, and accomplishes its goals.

Programmed decisions are decisions that are made for situations that have occurred often in the past and allow decision rules to be developed to guide future decisions.

People with a(n) ____________________ style usually are concerned with the personal development of others and may make decisions that help others achieve their goals.

Managers with an analytical decision style like to consider complex solutions based on as much data as they can gather.

____________________ decisions are made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization.

The administrative model is considered to be normative.

Nonprogrammed decisions require six steps, however, programmed decisions being structured and well understood requires only one step.

Compare decision conditions of certainty, risk, uncertainty, and ambiguity.

By making mistakes, people go through the process of decision learning, which means that they gain valuable experience and knowledge to perform more effectively in the future.

Which of the following defines a technique that uses face-to-face group to spontaneously suggest a broad range of alternatives for decision making?

Most people underestimate their ability to predict uncertain outcomes.

A(n) ____________________ is a choice made from available alternatives.

Goals often are vague, conflicting, and lack consensus among managers, according to the administrative model of decision making.

Personal ____ style refers to differences among people with respect to how they perceives problems and make decisions.