Exam 8: Managing Decision Making and Problem Solving

Charlie feels each of the alternatives is basically the same.He decides based on his gut feeling.Which of the behavioral factors that influence decision making does Charlie's behavior reflect?

Olga is house hunting in a "hot" market.Some homes sell within hours of listing.Olga finds one that meets her minimum criteria and immediately makes an offer.This is an example of

Ben is planning a ground-breaking ceremony for the company's new headquarters in Charlotte,North Carolina.He has a limited budget and renting an air-conditioned tent will put him over budget.It is June and the fiscal year ends in October.Because Ben believes he can cut other expenses to maintain his budget for the year,he orders the air-conditioned tent.Ben is at which step in the rational decision-making process?

The biggest drawback of group and team decision making is the additional time and hence the greater expense entailed.

What are the similarities and differences between the two types of decisions?

Beth and Dave are selling their home through a realtor.The realtor's commission is 3 percent of the closing price,so the realtor should want a high selling price.However,when the first offer came in 20 percent below asking price,the realtor pushed Beth and Dave to accept.They declined because they felt the realtor just wanted to move on to the next sale.Beth and Dave used ______ to make their decision.

Compare and contrast the three types of conditions under which managers make decisions by placing them on a continuum of certainty.

Use the six steps in the rational model of decision making to show how you arrived at your decision to attend this school.(If you weren't rational,pretend that you were. )

Sy.Med Development,Inc.is the only company that has credentialing application software for physicians and managed care organizations,and it provides complete support for the software..Credentialing applications must be submitted to each insurance provider annually and can be a very labor-intensive process.A physician's office in Montana that wants to buy or use the software would be making the purchase decision

Baldur chose to cut cable service to his home to save money.He knew he could still get local over-the-air service for free and view some entertainment on the Web.He knew each cost and his viewing options.This is an example of

When Mildred chooses to focus on a work task instead of listening to a colleague she is engaged in

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?

____ may explain why publishers are more likely to publish a children's book by a recognizable celebrity like Katie Couric than to consider a beautifully illustrated and written book by an unknown author.

Match the following.You may use a response once,more than once,or not at all. -Can often be automated

Which of the following statements about programmed decisions is FALSE?

Match the following.You may use a response once,more than once,or not at all. -The Foundation has the money to support this cause

The first step in using the Delphi procedure is to

Match the following.You may use a response once,more than once,or not at all. -Often requires much intuition and experience

Which of the following statements does NOT describe a characteristic of the nominal group technique?

The CEO of a company decided to leave Connecticut because the taxes were some of the highest in the country.He limited the search for a new location to Georgia,South Carolina,and North Carolina because taxes are much better there and the cost of living is about 20 percent cheaper.Some employees felt there were more factors to consider.The CEO engaged in