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

Individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services are called:

Systematic errors cause cognitive biases,which enable managers to make good decisions.

Entrepreneurs are likely to have an external locus of control,believing that they are responsible for what happens to them and that their own actions determine important outcomes such as the success or failure of a new business.

What do managers do when they search for and choose acceptable,or satisfactory,ways to respond to problems and opportunities rather than trying to make the optimal decision?

Discuss the two techniques known to counteract groupthink and cognitive biases.

An organization in which managers do all that they can to maximize the ability of subordinates to think creatively so as to maximize the potential for organizational learning is called:

When managers fall victim to prior-hypothesis bias,they tend to seek and use information that is consistent with their prior beliefs and to ignore information that contradicts those beliefs.

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

Decisions that have been made many times in the past and for which managers have rules and guidelines as to how to make similar decisions in the future are known as:

Compare and contrast programmed and nonprogrammed decision-making in organizations.Give two realistic business examples of each of these two types of decision-making.

Before deciding to expand his operations to China,Josh has his attorney look over the contracts to ensure the organization is following all the governmental regulations required by the Chinese officials.Josh is focusing on which criterion for decision-making?

Which of the following is NOT a reason for managers to pursue a satisficing Strategy?

In 1993,when Apple Computer introduced the Newton,its personal digital assistant (PDA),managers had no idea what the probability of a successful product launch for a PDA might be.This condition is called:

It is relatively easy to create a learning organization.

What assumption is made by the classical model?

The administrative model is based on three important concepts: bounded rationality,complete information,and optimizing.

Jeanie,the human resource manager,hires more workers when the existing workers overtime exceeds 10%.This is an example of which type of decision?

Mistakes in decision-making that some managers make over and over again without Learning from their mistakes are known as:

Dale,a manager,is assessing possible alternatives for the solution of a problem.As Dale does so,he attempts to determine if a possible alternative will threaten other company projects.On which criterion for decision-making is Dale focusing?

Discuss the procedure managers can use to learn from the results of past decisions.