Exam 6: Managers As Decision Makers

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In the decision-making process,after allocating weights to the decision criteria,the decision-maker must then ________.

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The anchoring effect describes when decision makers fixate on initial information as a starting point and then,once set,fail to adequately adjust for subsequent information.

(True/False)
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Amanda,a single parent,is looking for a new job.Considering that she has two school-going children,she is particularly keen on finding an employer who can provide her with alternative work arrangements such as flexible work hours and telecommuting.In terms of the decision-making process,these represent Amanda's ________.

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A programmed decision is a repetitive decision that can be handled by a routine approach.

(True/False)
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An effective decision-making process ________.

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A policy ________.

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Escalation of commitment refers to ________.

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Which of the following is an example of a policy?

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Discuss structured problems,programmed decisions,unstructured problems,and nonprogrammed decisions.

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A(n)________ is the existence of a discrepancy between an existing and a desired state of affairs.

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What are the five habits that highly reliable organizations (HROs)share?

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Discuss the three different decision-making conditions that managers usually face.

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What is the psychological orientation of a decision maker who makes a "maximin" choice?

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Which of the following best describes the psychological orientation of an individual making a "maximax" choice?

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If an individual knows the price of three similar cars at different dealerships,he is operating under which of the following decision-making conditions?

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The Car (Scenario) Colleen is a student,and her older brother has loaned her an old car.The car is in need of several repairs before she will feel comfortable driving it. -Colleen needs a vehicle,but she has to decide if the vehicle is worth repairing.She is facing a(n)________ that is a discrepancy between an existing and a desired state of affairs.

(Multiple Choice)
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Managers are assumed to use ________ if they make logical and consistent choices to maximize value.

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All of the following are aspects of intuition EXCEPT ________.

(Multiple Choice)
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Is the Picture Clear? (Scenario) Sharon was the regional manager of a large cable television company.She faced many problems and decisions daily,such as how to price each market,whom to hire,what kind of technology to purchase,and how to handle the increasing customer complaints.She needed some help sorting these issues out. -When a customer calls and requests a refund for a partial month's usage of the cable service,the fact that such situations are routine and most likely have a standard response would make the response a(n)________ decision.

(Multiple Choice)
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A policy is an explicit statement that tells a manager what can or cannot be done.

(True/False)
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