Exam 2: Managers As Decision Makers

Garrett looked at the list of orders for the coming week and made out the production schedule.He has done this so many times he could do it in his sleep.This situation represents ________.

It is assumed that a rational decision maker ________.

What is intuitive decision-making? How does intuition affect the process of making a decision?

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

Bryan must select a new supplier for lighting fixtures for his company's mobile homes.He has decided quality is more important than price but price is more important than lead times.Bryan will use these priorities to ________.

What can a manager do to make effective decisions in today's fast-moving world?

Abby listened to the weather report this morning before work.As a result,she drove her car and carried an umbrella instead of riding her motorcycle to work.Whether she realizes it or not,Abby ________.

Unstructured problems ________.

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

Belinda wants to introduce a new model to the product line.Three models are being developed.Belinda can choose only one.She has decided to focus on target market size,production costs,and net profits.These are Belinda's ________.

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

Design thinking suggests that managers should look at problem identification collaboratively and integratively with the goal of ________.

Structured problems align well with which type of decisions?

A few decades ago,Walmart opened stores in Germany.After a few years,it closed all of them.The shopping habits of Europeans differed so much from that of Americans that the stores could not become profitable.What was Walmart's mistake?

An effective decision-making process ________.

To make effective decisions in today's fast-moving world,managers need to ________.

It hasn't rained in several days; therefore it is unlikely to rain today.This is an example of the ________.

After identifying a problem,the next step in the decision-making process is ________.

It is time for Jane to order aluminum tubing again.She typically orders from one of three vendors.She knows the price,delivery time,and quality of each vendor.In this situation,Jane has ________.

When decision makers seek out information that reaffirms their past choices and discount information that contradicts past judgments,they are exhibiting the ________.