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

The __________ heuristic occurs when people adjust a previously existing value to make a decision.*

Managers who are problem solvers will make decisions and try to solve problems when required.

A common management problem when implementing decisions is escalating commitment.

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

The final step in the decision-making process is to:

The problem with the classical decision model is that it does not take into account the cognitive limitations that we, as humans, have.

An availability heuristic solves the current situation based upon its similarity to a stereotyped set of occurrences.

A decision making environment in which you have complete information on possible alternatives and their consequences is called a __________ environment.

A __________ decision applies a specific solution crafted for a unique problem.

Limits to human information processing capabilities are called __________ limitations.*

"How would I feel if my family found out about this decision?" "How would I feel if this decision was published in the local newspaper or posted on the Internet?" These are examples of __________ ethical questions.

Which of the following is not a common error in the first step of the decision-making process?

Define the two types of decision models and relate them to the decision making environments (certainty, risk and uncertainty) and to the two types of decisions (optimizing and satisficing).

A situation that offers the possibility of a better future if the right steps are taken is called a __________.

Joe, a HR manager, is tired of answering the same questions over and over again. His team of information technology experts developed an auto response software. This software helped in reducing the number of times Joe had to be involved personally. Joe has made a __________ decision to implement __________ decision software.

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

The behavioral decision model attempts to provide a(n) __________ decision.*

The __________ heuristic assesses the likelihood of an occurrence using a stereotyped set of similar events.

__________ involves selecting the first option that appears to work in solving the problem.

List and define the three decision making environments and their relationship to programmed and nonprogrammed decisions.