Exam 5: Foundations of Decision Making

Unstructured problems are ________.

Neural networks outperform expert systems in uncovering ________.

A manager has a choice of three investment funds. To assess them, he looks at their past investment records over the previous five years. The manager is operating under which condition?

A person who satisfices fails to ________.

It is assumed that a rational decision maker ________.

Which of the following group techniques allows group members to meet together, but at the same time facilitates independent decision making?

Which of the following is an example of an unstructured problem?

A key to what is commonly used to assess risk is for a decision maker to examine the ________ an investment.

Which of the following is the best definition for the word satisfice?

________ can cause people in a group to fail to express their true opinions.

A manager wants to invest in one of three start-up companies. All three of the companies seem to have a good business plan. None of the companies has a track record. The manager is operating under which condition?

One legislator sees decreased tax revenue as the key problem in the budget. A second legislator sees increased spending as the problem. Each of these legislators has a(n) ________.

Which of the following is a primary characteristic of groupthink?

Which of the following is NOT a way to minimize groupthink?

Maximizing value for an organization means making sure that ________.

An advantage of group decisions is that they increase the perception of the legitimacy of the solution.

Top managers in an organization tend to ________.

Which of the following is used exclusively to generate creative ideas in a group setting?

What advantages does videoconferencing provide for group decision making?

Compared to fully rational decision making, what is a major advantage of intuitive decision making?