Exam 4: Managers As Decision Makers: There Is No Substitute for a Good Decision

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Once the decision is made, the role of the manager in the decision-making process is over.

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Why do people escalate commitment to failing actions?

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The difference is not always clear between "just a little more persistence" bringing success (note all the cultural myths about heroes that stuck with it and triumphed) and when an effort will never work; peer pressure to keep something going; and ego and the desire to avoid being associated with a mistake can all play a role in escalation

A decision making environment in which you lack complete information, and it is difficult if not impossible to assign probabilities to the outcomes is called a(n) __________ environment.

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A

If you are seeking the best possible solution, you are seeking to __________ your decision.

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Nonprogrammed decisions are used to create novel solutions for unique situations.

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What makes decision-making so challenging in the "real world" of management?

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A decision that chooses the first satisfactory alternative that is presented is called a(n) __________ decision.

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A __________ decision applies a solution from past experience to a routine problem.

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__________ are comfortable with abstraction and unstructured situations. They tend to be idealistic, prone toward intellectual and theoretical positions, and are logical and impersonal.

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Individuals who are proactive information gatherers and are forward thinking are said to be:

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Cost-benefit analysis is used in the "__________" step of the decision-making process.*

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The __________ decision making model assumes rationality and complete information.

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One factor that should be considered in all steps of the decision-making process is __________.*

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The three types of decision making environments are __________, __________, and __________.

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A(n) __________ is a choice among possible alternative courses of action.

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The generation of a novel idea or approach that solves a problem or identifies an opportunity is called __________

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The ability to gather and use information to solve problems is called __________.*

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Step one in the decision-making process is where the problem or opportunity is identified and defined.

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An operational deficiency involving something going wrong or about to go wrong is known as a(n) __________.

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Which of the following is NOT one of the drivers of personal creativity?

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