Question 1

Which of the following is a characteristic of an entrepreneur?

Accepted Answer

A) not open to new experiences 
B) have an external locus of control 
C) have a low level of self esteem 
D) have a high need for achievement 
E) have a low need for power 
A) not open to new experiences 
B) have an external locus of control 
C) have a low level of self esteem 
D) have a high need for achievement 
E) have a low need for power D

Question 2

According to the administrative model of decision making, why wouldn't managers be able to arrive at the optimum decision even if they had unlimited ability to evaluate information?

Accepted Answer

A) Managers would not have complete information. 
B) Managers would not have bounded rationality. 
C) Managers would have no decision-making ability. 
D) Managers would have varying perspectives. 
E) Managers would have too many alternatives. 
A) Managers would not have complete information. 
B) Managers would not have bounded rationality. 
C) Managers would have no decision-making ability. 
D) Managers would have varying perspectives. 
E) Managers would have too many alternatives. A

Question 3

Which of the following is a guideline for managers to improve their decision-making abilities?

Accepted Answer

A) concentrate on planning for the future instead of conducting a retrospective analysis 
B) ignore biases and personal style of making decisions 
C) rank various alternatives even when all relevant information is not available 
D) List the criteria that are being used to assess and evaluate alternatives and evaluate if the factors are appropriate 
E) persist with economically superior alternatives despite the threat of cannibalization 
A) concentrate on planning for the future instead of conducting a retrospective analysis 
B) ignore biases and personal style of making decisions 
C) rank various alternatives even when all relevant information is not available 
D) List the criteria that are being used to assess and evaluate alternatives and evaluate if the factors are appropriate 
E) persist with economically superior alternatives despite the threat of cannibalization D

Question 4

Which of the following is a source of bias that can adversely affect the way managers make decisions?

Accepted Answer

A) reasoned judgments 
B) bounded rationality 
C) economic feasibility 
D) escalating commitment 
E) dialectical inquiry 
A) reasoned judgments 
B) bounded rationality 
C) economic feasibility 
D) escalating commitment 
E) dialectical inquiry

Question 5

_____ is a critical analysis of two preferred alternatives in order to find an even better alternative for the organization to adopt.

Accepted Answer

A) Groupthink 
B) Devil's advocacy 
C) Skunkworks 
D) Dialectical inquiry 
E) Classical decision method 
A) Groupthink 
B) Devil's advocacy 
C) Skunkworks 
D) Dialectical inquiry 
E) Classical decision method

Question 6

_____ occurs when individuals in a team strive for agreement among themselves rather than assessing information accurately.

Accepted Answer

A) Groupthink 
B) Intuition 
C) Bounded rationality 
D) Escalating commitment 
E) Representativeness bias 
A) Groupthink 
B) Intuition 
C) Bounded rationality 
D) Escalating commitment 
E) Representativeness bias

Question 7

Programmed decision making is a(n) ______ process.

Accepted Answer

A) novel 
B) routine 
C) intuitive 
D) unusual 
E) creative 
A) novel 
B) routine 
C) intuitive 
D) unusual 
E) creative

Question 8

Brainstorming is a group problem-solving technique in which managers meet face-to-face to generate and debate a wide variety of alternatives from which to make a decision.

Accepted Answer

A) True 
 B)False

Question 9

_____ are individuals who pursue causes such as reducing poverty, increasing literacy, protecting the natural environment, or reducing substance abuse.

Accepted Answer

A) Social entrepreneurs 
B) Intrapreneurs 
C) Product champions 
D) Skunkwork specialists 
E) Devil's advocates 
A) Social entrepreneurs 
B) Intrapreneurs 
C) Product champions 
D) Skunkwork specialists 
E) Devil's advocates

Question 10

_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.

Accepted Answer

A) Groupthink 
B) Dialectical inquiry 
C) Intuition 
D) Creativity 
E) The illusion of control 
A) Groupthink 
B) Dialectical inquiry 
C) Intuition 
D) Creativity 
E) The illusion of control

Question 11

_____ is the decision-making method in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank the alternatives.

Accepted Answer

A) Delphi technique 
B) Dialectical inquiry 
C) Brainstorming 
D) Nominal group technique 
E) Devil's advocacy 
A) Delphi technique 
B) Dialectical inquiry 
C) Brainstorming 
D) Nominal group technique 
E) Devil's advocacy

Question 12

The last step in the managerial decision-making process is

Accepted Answer

A) generating alternatives. 
B) learning from feedback. 
C) reassessing the need for a decision. 
D) implementing the chosen alternative. 
E) assessing alternatives. 
A) generating alternatives. 
B) learning from feedback. 
C) reassessing the need for a decision. 
D) implementing the chosen alternative. 
E) assessing alternatives.

Question 13

Decision making in response to threats occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups.

Accepted Answer

A) True 
 B)False

Question 14

_______ are individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services.

Accepted Answer

A) Entrepreneurs 
B) Managers 
C) Supervisors 
D) Product champions 
E) Intuitors 
A) Entrepreneurs 
B) Managers 
C) Supervisors 
D) Product champions 
E) Intuitors

Question 15

_____ results from the tendency to make decisions based on preexisting beliefs even though evidence suggests that those beliefs are wrong.

Accepted Answer

A) Prior hypothesis bias 
B) Dialectical inquiry 
C) Escalating commitment 
D) Representativeness bias 
E) The illusion of control 
A) Prior hypothesis bias 
B) Dialectical inquiry 
C) Escalating commitment 
D) Representativeness bias 
E) The illusion of control

Question 16

In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the ____________ decision.

Accepted Answer

A) intuitive 
B) creative 
C) heuristic 
D) subjective 
E) optimum 
A) intuitive 
B) creative 
C) heuristic 
D) subjective 
E) optimum

Question 17

The key to a good assessment of the alternatives is to define the opportunity or threat exactly.

Accepted Answer

A) True 
 B)False

Question 18

When uncertainty exists, the probabilities of alternative outcomes cannot be determined and future outcomes are unknown.

Accepted Answer

A) True 
 B)False

Question 19

Many managers must make decisions with incomplete information.Discuss the step-by-step model of the decision-making process that researchers have developed for managers.

Accepted Answer

Using the work of March and Simon as a b

Question 20

List and describe the four sources of bias that can adversely affect the way managers make decisions.

Accepted Answer

Four sources of bias that can adversely

Which of the following is a characteristic of an entrepreneur?

According to the administrative model of decision making, why wouldn't managers be able to arrive at the optimum decision even if they had unlimited ability to evaluate information?

Which of the following is a guideline for managers to improve their decision-making abilities?

Which of the following is a source of bias that can adversely affect the way managers make decisions?

_____ is a critical analysis of two preferred alternatives in order to find an even better alternative for the organization to adopt.

_____ occurs when individuals in a team strive for agreement among themselves rather than assessing information accurately.

Programmed decision making is a(n) ______ process.

Brainstorming is a group problem-solving technique in which managers meet face-to-face to generate and debate a wide variety of alternatives from which to make a decision.

_____ are individuals who pursue causes such as reducing poverty, increasing literacy, protecting the natural environment, or reducing substance abuse.

_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.

_____ is the decision-making method in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank the alternatives.

The last step in the managerial decision-making process is

Decision making in response to threats occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups.

_______ are individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services.

_____ results from the tendency to make decisions based on preexisting beliefs even though evidence suggests that those beliefs are wrong.

In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the ____________ decision.

The key to a good assessment of the alternatives is to define the opportunity or threat exactly.

When uncertainty exists, the probabilities of alternative outcomes cannot be determined and future outcomes are unknown.

Many managers must make decisions with incomplete information.Discuss the step-by-step model of the decision-making process that researchers have developed for managers.

List and describe the four sources of bias that can adversely affect the way managers make decisions.

Managers and Managing

The Evolution of Management

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

The Manager As a Planner and a Strategist

Value Chain Management: Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters

Exam 7: Decision Making, Learning, Creativity, and Entrepreneurship

Which of the following is a characteristic of an entrepreneur?

According to the administrative model of decision making, why wouldn't managers be able to arrive at the optimum decision even if they had unlimited ability to evaluate information?

Which of the following is a guideline for managers to improve their decision-making abilities?

Which of the following is a source of bias that can adversely affect the way managers make decisions?

_____ is a critical analysis of two preferred alternatives in order to find an even better alternative for the organization to adopt.

_____ occurs when individuals in a team strive for agreement among themselves rather than assessing information accurately.

Programmed decision making is a(n) ______ process.

Brainstorming is a group problem-solving technique in which managers meet face-to-face to generate and debate a wide variety of alternatives from which to make a decision.

_____ are individuals who pursue causes such as reducing poverty, increasing literacy, protecting the natural environment, or reducing substance abuse.

_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.

_____ is the decision-making method in which group members write down ideas and solutions, read their suggestions to the whole group, and discuss and then rank the alternatives.

The last step in the managerial decision-making process is

Decision making in response to threats occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups.

_______ are individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services.

_____ results from the tendency to make decisions based on preexisting beliefs even though evidence suggests that those beliefs are wrong.

In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the ____________ decision.

The key to a good assessment of the alternatives is to define the opportunity or threat exactly.

When uncertainty exists, the probabilities of alternative outcomes cannot be determined and future outcomes are unknown.

Many managers must make decisions with incomplete information.Discuss the step-by-step model of the decision-making process that researchers have developed for managers.

List and describe the four sources of bias that can adversely affect the way managers make decisions.

Managers and Managing

The Evolution of Management

Values, Attitudes, Emotions, and Culture: The Manager As a Person

Ethics and Social Responsibility

Managing Diverse Employees in a Multicultural Environment

Managing in the Global Environment

The Manager As a Planner and a Strategist

Value Chain Management: Functional Strategies for Competitive Advantage

Managing Organizational Structure and Culture

Organizational Control and Change

Human Resource Management

Motivation Performance

Leadership

Effective Groups and Teams

Promoting Effective Communication

Managing Conflict, Politics, and Negotiation

Used Advanced Information Technology to Increase Performance

Filters