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

A systematic thinker will:*

Individuals who ignore information that would otherwise signal the presence of a performance threat or opportunity, and who prefer not to make decisions are said to be:

Evaluating alternatives, in which positive and negative outcomes are examined, is done with the help of a tool called __________.

How we "frame" an issue, meaning cast it in a positive or negative light, impacts not only how we discuss the issue, but how we solve it.

What is the third step in the decision-making process?

What is the second step of the decision-making process?

The problem in a "crisis" situation is not just that it is often unexpected, but that it must be handled quickly in order to avoid a disaster.

When something is wrong or likely to go wrong, it is called a __________.

A lack-of-participation error occurs when:

The __________ decision making model assumes incomplete information and bounded rationality.

Attending only to information that confirms a decision already made is called a(n) __________.*

In a company, the major issue is a drop in its sales. Which of the following should be followed by the company?

Managers turn to heuristics to make decisions with limited information, time, and energy.

In the second step of the decision-making process, the various options are compared.

Continuing on a course of action even though it is not working is called a(n) __________.*

__________ add value to organizations through their intellectual capabilities.

Sensation feelers prefer broad global issues. They are insightful and tend to avoid details, and uncomfortable with intangibles.

What is the fourth step in the decision-making process?*

In simple short terms, state the five steps in the decision making process.

Not all decisions are going to be easy ones; some will have to be made under tough conditions; and, not all decisions will turn out right.