Question 1

Which of the following is assumed in a rational decision?

Accepted Answer

A) Value is maximised. 
B) A clear and specific goal. 
C) A clear and unambiguous problem. 
D) All of the above. 
A) Value is maximised. 
B) A clear and specific goal. 
C) A clear and unambiguous problem. 
D) All of the above.

Question 2

The eight steps of decision making can ________.

Accepted Answer

A) be employed by individuals and groups 
B) only be employed by individuals 
C) only be employed in very small groups 
D) only be employed by groups 
A) be employed by individuals and groups 
B) only be employed by individuals 
C) only be employed in very small groups 
D) only be employed by groups

Question 3

Structured problems are ________.

Accepted Answer

A) clear and straightforward 
B) incomplete 
C) undefined and vague 
D) ambiguous 
A) clear and straightforward 
B) incomplete 
C) undefined and vague 
D) ambiguous

Question 4

________ is a situation in which a decision-maker has only incomplete information about outcomes and does not have the ability to reasonably estimate outcomes that are not known.

Accepted Answer

A) Low risk 
B) Uncertainty 
C) Risk 
D) Certainty 
A) Low risk 
B) Uncertainty 
C) Risk 
D) Certainty

Question 5

A banker opts for short-term gain despite indications that his decision might not pay off in the long run.Which error or bias is the banker guilty of?

Accepted Answer

A) Selective perception bias. 
B) Immediate gratification. 
C) Representation. 
D) Overconfidence. 
A) Selective perception bias. 
B) Immediate gratification. 
C) Representation. 
D) Overconfidence.

Question 6

Which of the following is NOT a type of programmed decision?

Accepted Answer

A) Brainstorm. 
B) Systematic procedure. 
C) Policy. 
D) Rule. 
A) Brainstorm. 
B) Systematic procedure. 
C) Policy. 
D) Rule.

Question 7

Which of the following is NOT allowed in a brainstorming session?

Accepted Answer

A) Clear definition of the problem. 
B) Large number of alternatives. 
C) Recording of all alternatives. 
D) Criticism or dismissal of poor ideas. 
A) Clear definition of the problem. 
B) Large number of alternatives. 
C) Recording of all alternatives. 
D) Criticism or dismissal of poor ideas.

Question 8

Managerial decisions commonly include an element of risk.

Accepted Answer

A) True 
 B)False

Question 9

A highway speed limit is an example of a policy.

Accepted Answer

A) True 
 B)False

Question 10

Intuitive decision making is based on mysterious sensations and perceptions.

Accepted Answer

A) True 
 B)False

Question 11

Decisions made by individuals typically suffer from suspicions that the decision-maker ________.

Accepted Answer

A) is not rational 
B) did not consult all interested parties 
C) did not try to analyse the situation 
D) is dishonest 
A) is not rational 
B) did not consult all interested parties 
C) did not try to analyse the situation 
D) is dishonest

Question 12

What is ringisei?

Accepted Answer

Ringisei is a process aimed to create co

Question 13

Software programs that use a series of questions to aid humans in decision making are called ________.

Accepted Answer

A) expert systems 
B) totally quality systems 
C) survey software 
D) support software 
A) expert systems 
B) totally quality systems 
C) survey software 
D) support software

Question 14

A basketball coach who takes a very good shooter out of a game because she missed her last two shots has availability bias.

Accepted Answer

A) True 
 B)False

Question 15

What is an experience-based decision?

Accepted Answer

An experience-based decision i

Question 16

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

Accepted Answer

A) Choosing the best wardrobe for an executive. 
B) Comparing fuel consumption for different car models. 
C) Measuring pollution levels in a power plant. 
D) Finding the list price of different copy machines. 
A) Choosing the best wardrobe for an executive. 
B) Comparing fuel consumption for different car models. 
C) Measuring pollution levels in a power plant. 
D) Finding the list price of different copy machines.

Question 17

The ________ blends the nominal group technique with sophisticated computer technology.

Accepted Answer

A) virtual meeting 
B) electronic meeting 
C) preliminary meeting 
D) personal meeting 
A) virtual meeting 
B) electronic meeting 
C) preliminary meeting 
D) personal meeting

Question 18

Implementing a procedure requires more judgment and interpretation than implementing a policy.

Accepted Answer

A) True 
 B)False

Question 19

Identifying the right problem and failing to solve it is just as much a failure as identifying the wrong problem.

Accepted Answer

A) True 
 B)False

Question 20

Managers are expected to make decisions which maximise value.

Accepted Answer

A) True 
 B)False

Which of the following is assumed in a rational decision?

The eight steps of decision making can ________.

Structured problems are ________.

________ is a situation in which a decision-maker has only incomplete information about outcomes and does not have the ability to reasonably estimate outcomes that are not known.

A banker opts for short-term gain despite indications that his decision might not pay off in the long run.Which error or bias is the banker guilty of?

Which of the following is NOT a type of programmed decision?

Which of the following is NOT allowed in a brainstorming session?

Managerial decisions commonly include an element of risk.

A highway speed limit is an example of a policy.

Intuitive decision making is based on mysterious sensations and perceptions.

Decisions made by individuals typically suffer from suspicions that the decision-maker ________.

What is ringisei?

Software programs that use a series of questions to aid humans in decision making are called ________.

A basketball coach who takes a very good shooter out of a game because she missed her last two shots has availability bias.

What is an experience-based decision?

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

The ________ blends the nominal group technique with sophisticated computer technology.

Implementing a procedure requires more judgment and interpretation than implementing a policy.

Identifying the right problem and failing to solve it is just as much a failure as identifying the wrong problem.

Managers are expected to make decisions which maximise value.

Managers and Management

The Managerial Environment

Foundations of Planning

Organisational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behaviour

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

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Exam 3: Foundations of Decision Making

Which of the following is assumed in a rational decision?

The eight steps of decision making can ________.

Structured problems are ________.

________ is a situation in which a decision-maker has only incomplete information about outcomes and does not have the ability to reasonably estimate outcomes that are not known.

A banker opts for short-term gain despite indications that his decision might not pay off in the long run.Which error or bias is the banker guilty of?

Which of the following is NOT a type of programmed decision?

Which of the following is NOT allowed in a brainstorming session?

Managerial decisions commonly include an element of risk.

A highway speed limit is an example of a policy.

Intuitive decision making is based on mysterious sensations and perceptions.

Decisions made by individuals typically suffer from suspicions that the decision-maker ________.

What is ringisei?

Software programs that use a series of questions to aid humans in decision making are called ________.

A basketball coach who takes a very good shooter out of a game because she missed her last two shots has availability bias.

What is an experience-based decision?

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

The ________ blends the nominal group technique with sophisticated computer technology.

Implementing a procedure requires more judgment and interpretation than implementing a policy.

Identifying the right problem and failing to solve it is just as much a failure as identifying the wrong problem.

Managers are expected to make decisions which maximise value.

Managers and Management

The Managerial Environment

Foundations of Planning

Organisational Structure and Design

Managing Human Resources

Managing Change and Innovation

Foundations of Individual Behaviour

Understanding Groups and Managing Work Teams

Motivating and Rewarding Employees

Leadership and Trust

Managing Communication and Information

Foundations of Control

Filters