Question 1

What is the use of internal and external information in organizations?

Accepted Answer

The answer of What is the use of internal and...

Question 2

The _____ are comfortable with unstructured situations, and they tend to be idealistic and prone toward intellectual and theoretical positions.

Accepted Answer

A)  intuitive feelers 
B)  intuitive thinkers 
C)  sensation feelers 
D)  sensation seekers 
E)  sensation thinkers

Question 3

Dmitri values flexibility and human relations while making decisions. He prefers broad and global issues, tends to avoid details during problem solving, and is comfortable with intangibles. Dmitri is most likely a(n) _____.

Accepted Answer

A)  sensation feeler 
B)  idealistic thinker 
C)  sensation thinker 
D)  intuitive feeler 
E)  intuitive thinker

Question 4

_____ are insightful, comfortable with intangibles, and value flexibility and human relationships.

Accepted Answer

A)  Sensation feelers 
B)  Intuitive thinkers 
C)  Sensation seekers 
D)  Sensation thinkers 
E)  Intuitive feelers

Question 5

Data mining is the process of collecting data to produce useful information for customers.

Accepted Answer

A) True 
 B)False

Question 6

Alejandro is assigned the task of marketing a new experimental drug to consumers in a developing country. He is not aware of the potential side-effects of the drug. Moreover, Alejandro does not know if there is a demand for this drug in that developing country. He is unable to even assign probabilities to the likely outcomes of his marketing strategies to sell this drug. The decision-making environment of Alejandro can be referred to as a(n) _____.

Accepted Answer

A)  uncertain environment 
B)  risk environment 
C)  certain environment 
D)  threat environment 
E)  unanticipated environment

Question 7

"We cannot rely on Stephen. He also worked for the same company Anna did. And we all know how little we could rely on her." This statement is an example of a(n) _____.

Accepted Answer

A)  availability bias 
B)  conjunction fallacy 
C)  representativeness bias 
D)  anchoring bias 
E)  framing error

Question 8

The _____ occurs when decisions are influenced by inappropriate allegiance to a previously existing value or starting point.

Accepted Answer

A)  confirmation error 
B)  lack-of-participation error 
C)  representativeness bias 
D)  anchoring and adjustment bias 
E)  availability bias

Question 9

What is the role of ethical reasoning in the decision-making process? How can ethical reasoning be checked in decision making?

Accepted Answer

The answer of What is the role of ethical reasoning...

Question 10

Problem solvers actively process information and constantly look for problems to solve.

Accepted Answer

A) True 
 B)False

Question 11

Based on his recollection of a recent product failure, Abdul, the manager of a company, decides not to invest in a new product, even though the readily available information is infallible and irrelevant. This is an example of _____.

Accepted Answer

A)  confirmation error 
B)  framing error 
C)  availability bias 
D)  escalating commitment 
E)  anchoring bias

Question 12

Unintended consequences are ____ positive or negative side effects that result from a decision.

Accepted Answer

The answer of Unintended consequences are ____ positive or negative...

Question 13

Strategic ____ focuses on long-term objectives while being flexible in dealing with short-term problems.

Accepted Answer

The answer of Strategic ____ focuses on long-term objectives while...

Question 14

Roberto is good with electronic devices. He learns their functions fast and can operate new gadgets well. Which of the following can best describe Roberto's ability?

Accepted Answer

A)  Technological competency 
B)  Business competency 
C)  Information competency 
D)  Entrepreneurial competency 
E)  Analytical competency

Question 15

Problem ____ ignore information indicating a performance opportunity or threat.

Accepted Answer

The answer of Problem ____ ignore information indicating a performance...

Question 16

Catalina, the manager of a law firm, makes a decision about the pay raise of her interns based only on their current salaries. This type of decision making can lead to _____.

Accepted Answer

A)  lack-of-participation error 
B)  availability bias 
C)  representativeness bias 
D)  framing error 
E)  confirmation error

Question 17

To assist in their promotions and appraisals, Ho Sook analyzed and graded the performance of her team members in the previous year. She is sure of her decisions and its possible outcomes as she had all the factual information. This type of environment that is ideal for decision making is known as a(n) _____.

Accepted Answer

A)  uncertain environment 
B)  risk environment 
C)  certain environment 
D)  threat environment 
E)  unanticipated environment

Question 18

The decision-making process begins with ____ of a problem and ends with evaluation of results.

Accepted Answer

The answer of The decision-making process begins with ____ of...

Question 19

Henry takes time to examine problems and breaks them down into segments to see where the actual problems lie and how they can be solved. He divides the problems into smaller components and then addresses them in a logical and integrated fashion. Henry's approach to problem solving is an example of _____.

Accepted Answer

A)  problem seeking 
B)  systematic thinking 
C)  multidimensional thinking 
D)  intuitive thinking 
E)  strategic opportunism

Question 20

Ayesha, an assistant manager of a retail chain, is always inspecting areas for possible issues that could hinder smooth functioning of the business. She always anticipates a problem or an opportunity and takes appropriate actions in advance. Ayesha can be referred to as a _____.

Accepted Answer

A)  problem solver 
B)  problem maker 
C)  problem avoider 
D)  problem creator 
E)  problem seeker

Exam 7: Data and Decision Making

What is the use of internal and external information in organizations?

The _____ are comfortable with unstructured situations, and they tend to be idealistic and prone toward intellectual and theoretical positions.

Dmitri values flexibility and human relations while making decisions. He prefers broad and global issues, tends to avoid details during problem solving, and is comfortable with intangibles. Dmitri is most likely a(n) _____.

_____ are insightful, comfortable with intangibles, and value flexibility and human relationships.

Data mining is the process of collecting data to produce useful information for customers.

"We cannot rely on Stephen. He also worked for the same company Anna did. And we all know how little we could rely on her." This statement is an example of a(n) _____.

The _____ occurs when decisions are influenced by inappropriate allegiance to a previously existing value or starting point.

What is the role of ethical reasoning in the decision-making process? How can ethical reasoning be checked in decision making?

Problem solvers actively process information and constantly look for problems to solve.

Based on his recollection of a recent product failure, Abdul, the manager of a company, decides not to invest in a new product, even though the readily available information is infallible and irrelevant. This is an example of _____.

Unintended consequences are ____ positive or negative side effects that result from a decision.

Strategic ____ focuses on long-term objectives while being flexible in dealing with short-term problems.

Roberto is good with electronic devices. He learns their functions fast and can operate new gadgets well. Which of the following can best describe Roberto's ability?

Problem ____ ignore information indicating a performance opportunity or threat.

Catalina, the manager of a law firm, makes a decision about the pay raise of her interns based only on their current salaries. This type of decision making can lead to _____.

The decision-making process begins with ____ of a problem and ends with evaluation of results.

Ayesha, an assistant manager of a retail chain, is always inspecting areas for possible issues that could hinder smooth functioning of the business. She always anticipates a problem or an opportunity and takes appropriate actions in advance. Ayesha can be referred to as a _____.