Exam 7: Decision Making,learning,creativity,and Entrepreneurship

In managerial decision-making,the ability of a manager to discover novel ideas as possible alternative courses of action for the organization to use in solving a particular problem is known as:

Which of the following does NOT contribute to incomplete information?

Two separate groups of managers are given a problem to solve,and then each group presents its proposed solution to top management in an attempt to determine the best course of action.This process is called:

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

When managers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likelihood of occurrence in the future,this is known as:

In a ______________,a group of ______ are deliberately separated from the normal operation of the organization.

The classical model specifies how decisions should be made.In other words it is:

A marketing manager wants to budget the advertising for a new product launch.She is trying to determine the amount of money that her company can afford to spend on advertising this new product.Which criterion of decision-making is this marketing manager focusing?

In the administrative model of decision making,when the number of possible alternatives to a decision is so large that the manager cannot possibly evaluate all of them before making a decision,this is called:

What cognitive bias results from overestimating one's own ability to influence actions and events?

The classical decision making model assumes that managers have all of the information they need in order to make the optimum decision.

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

A skunkworks is a group of intrapreneurs who are deliberately separated from the normal operation of an organization to encourage them to devote all their attention to developing new products.

A manager who makes a programmed decision relies on established rules and guidelines.

Peggy,a plant foreman,asks the plant superintendent to hire an additional worker whenever overtime hours for the previous month increase by more than 15 percent over the headcount.This is an example of which type of decision?

When managers responsible for the decision to launch the Challenger space shuttle were attempting to balance the conflicting demands for ensuring the safety of the astronauts with the desire to obtain future funding for the U.S.space program,on which decision-making criterion were these managers focusing?

When the paper supply reaches a minimum level,Ethan makes a call to the supplier to order more paper.What type of decision does this represent?

Nonroutine decisions made in response to novel situations in business are known as:

Identify the advantages and disadvantages of group decision-making.Describe at least two ways that groups can overcome some disadvantages,using an example of a group of students doing a course project.

Researchers have identified a six-step model that can be used by managers who are faced with an important decision.Discuss these steps as they would apply to an important and realistic business situation of your choosing.