Exam 3: Managerial Decision Making

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Aziz is the owner of a record store and must decide on next week's work schedule for his employees.This is an example of a ________ decision.

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Discuss the roles that uncertainty and risk play in managerial decision making.

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Describe the elements of an effective crisis management plan.

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Compare and contrast three models of organizational decision processes thought to occur when bounded rationality conditions hold.

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Which of the following is a disadvantage of group decisions?

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The three requirements for effective group decision making are an appropriate leadership style,the constructive use of disagreement and conflict,and the enhancement of

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The psychological bias known as "illusion of control" refers to a belief that

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Which of the following is a disadvantage of group decision making?

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Allowing one person to control a discussion or decision is known as

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Swann Brothers Chocolatiers is a new company that makes specialty,gourmet confections and markets to upscale restaurants and the general public,particularly hip,young people with money to spend on luxuries.They need to find a location for their new shop and kitchen.The real estate agent they have contracted shows them several available commercial spaces in the area.Given their goals,if they are optimizing their decision,which of the following represents their best choice?

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Which of the following statements about decision making in a crisis is true?

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The manager of the Silver Sands Hotel noticed a tremendous decrease in the number of convention bookings.He promptly ordered the redecoration of the hotel's meeting rooms.Customer feedback later indicated that the problem had not been the meeting facilities but poor service from the cleaning staff.In this scenario,to try and solve the problem,the manager should have first tried to

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Which of the following statements about group decision making is true?

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Scenario D: Sunrise Health Systems has hired a consultant to help with organizational decision making.The consultant's first meeting is set up to explain to the managers of Sunrise Health Systems various models of organizational decision processes.Each of the managers seems to prefer one of the models over the others. -The vice president of human resources believes that decision makers cannot be truly rational in their decisions.He tells the group that he sees many situations with managers who do not have enough time to process all the relevant information and who regularly face very complex problems.His observation illustrates

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Scenario D: Sunrise Health Systems has hired a consultant to help with organizational decision making.The consultant's first meeting is set up to explain to the managers of Sunrise Health Systems various models of organizational decision processes.Each of the managers seems to prefer one of the models over the others. -The vice president of production declares that her people disagree on goals and have now formed groups to advocate for their own interests.Her managers are using

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Explain the five disadvantages of using a group to make decisions.

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Scenario A: Alexis,the manager of Full Circle Fitness,has several decisions to make as the week begins.She always comes in early on Mondays to sift through the paperwork on her desk and decide what needs to be done for the week and in which order.The following are decisions facing Alexis this week: Giving two personal trainers raises based on the company's policy for wage increases Determining whether or not to open a facility in a new market to target more customers Interviewing applicants for two open part-time fitness instructor positions and hiring them Providing input to the owner on a possible upgrade to the elliptical machines currently in use -In Scenario A,Alexis's decision about interviewing applicants for two open part-time positions and hiring them is an example of a ________ decision.

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Vigilance in decision making means the

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Complimenting one another and telling stories are examples of behaviors that can make brainstorming less effective.

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Which of the following involves weighting short-term costs and benefits more heavily than longer-term costs and benefits?

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