Question 1

Which of the following is a characteristic of an entrapreneur?

Accepted Answer

A)  Not open to new experiences 
B)  Have an external locus of control 
C)  Have a low level of self esteem 
D)  Have a high need for achievement 
E)  Have a low need for power

Question 2

_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.

Accepted Answer

A)  Groupthink 
B)  Dialectical inquiry 
C)  Intuition 
D)  Creativity 
E)  The illusion of control

Question 3

When paper supplies reaches a minimum level, Ethan makes a call to the supplier to order more paper. What type of decision does this represent?

Accepted Answer

A)  Brainstormed decision 
B)  Heuristic decision 
C)  Programmed decision 
D)  Intuitive decision 
E)  Creative decision

Question 4

Escalating commitment is the tendency of decision makers to overestimate their ability to control activities and events.

Accepted Answer

A) True 
 B)False

Question 5

Compare and contrast programmed and nonprogrammed decision-making in organizations.

Accepted Answer

The answer of Compare and contrast programmed and nonprogrammed decision-making...

Question 6

Discuss the perils of groupthink.

Accepted Answer

The answer of Discuss the perils of groupthink....

Question 7

Which of the following is an advantage of group decision making?

Accepted Answer

A)  Managers can draw on the combined skills, competencies, and accumulated knowledge of group members. 
B)  Managers can embark on a course of action without wasting time in evaluating its merits. 
C)  Groups can rally around a central manager and the course of action that he supports. 
D)  Groupthink can lead to better productivity. 
E)  Group members commit to a decision without understanding its consequences.

Question 8

A group of managers meets face-to-face and generates and debates a wide variety of alternatives from which to make a decision. This is called:

Accepted Answer

A)  the Delphi technique. 
B)  dialectical inquiry. 
C)  brainstorming. 
D)  a nominal group technique. 
E)  programmed decision making.

Question 9

Managers make decisions whenever they are engaged in planning, organizing, leading, or controlling.

Accepted Answer

A) True 
 B)False

Question 10

Decision making in response to opportunities occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups.

Accepted Answer

A) True 
 B)False

Question 11

What is the difference between entrepreneurs and intrapreneurs?

Accepted Answer

The answer of What is the difference between entrepreneurs and...

Question 12

Steven, a marketing manager, wants to budget the advertising for a new product launch. He is trying to determine the amount of money that the company can afford to spend on advertising. Which criterion of decision-making is he focusing on?

Accepted Answer

A)  Legality 
B)  Ethicality 
C)  Economic feasibility 
D)  Practicality 
E)  Product sustainability

Question 13

Discuss the four sources of bias that can adversely affect the way managers make decisions.

Accepted Answer

The answer of Discuss the four sources of bias that...

Question 14

Based on guidelines established by the accounting manager, Jaime, the accounts payable clerk, makes payments to vendors in order to maximize discounts. What type of decision does this represent?

Accepted Answer

A)  Programmed 
B)  Bounded 
C)  Intuitive 
D)  Groupthink 
E)  Creative

Question 15

Eileen, a college professor, has to pick a textbook for an upcoming course. She has just enough time to review a few books from the many choices available. She settles for one of the books, even though the best book might be a book that she hasn't yet reviewed. What is this process called?

Accepted Answer

A)  Optimizing 
B)  Brainstorming 
C)  Rationality binding 
D)  Satisficing 
E)  Cognitive biasing

Question 16

The administrative model is based on three important concepts: bounded rationality, incomplete information, and satisficing.

Accepted Answer

A) True 
 B)False

Question 17

The optimum decision is the most appropriate decision possible in light of what managers believe to be the most desirable consequences for the organization.

Accepted Answer

A) True 
 B)False

Question 18

_____ refers to the loss of productivity in brainstorming sessions due to the unstructured nature of brainstorming.

Accepted Answer

A)  Production blocking 
B)  Satisficing 
C)  Nonprogrammed decision making 
D)  Systematic error 
E)  Illusion of control

Question 19

WashUrCar, which operates five car washes, has to decide whether or not it should invest in the latest drying equipment. What type of decision does this represent for the organization?

Accepted Answer

A)  Automatic 
B)  Intuitive 
C)  Bounded 
D)  Nonprogrammed 
E)  Rule-based

Question 20

Individual decision making is superior to group decision making in several respects.

Accepted Answer

A) True 
 B)False

Exam 7: Decision Making, Learning, Creativity, and Entrepreneurship

Which of the following is a characteristic of an entrapreneur?

_____ is a decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action.

When paper supplies reaches a minimum level, Ethan makes a call to the supplier to order more paper. What type of decision does this represent?

Escalating commitment is the tendency of decision makers to overestimate their ability to control activities and events.

Compare and contrast programmed and nonprogrammed decision-making in organizations.

Discuss the perils of groupthink.

Which of the following is an advantage of group decision making?

A group of managers meets face-to-face and generates and debates a wide variety of alternatives from which to make a decision. This is called:

Managers make decisions whenever they are engaged in planning, organizing, leading, or controlling.

Decision making in response to opportunities occurs when managers search for ways to improve organizational performance to benefit customers, employees, and other stakeholder groups.

What is the difference between entrepreneurs and intrapreneurs?

Steven, a marketing manager, wants to budget the advertising for a new product launch. He is trying to determine the amount of money that the company can afford to spend on advertising. Which criterion of decision-making is he focusing on?

Discuss the four sources of bias that can adversely affect the way managers make decisions.

Based on guidelines established by the accounting manager, Jaime, the accounts payable clerk, makes payments to vendors in order to maximize discounts. What type of decision does this represent?

Eileen, a college professor, has to pick a textbook for an upcoming course. She has just enough time to review a few books from the many choices available. She settles for one of the books, even though the best book might be a book that she hasn't yet reviewed. What is this process called?

The administrative model is based on three important concepts: bounded rationality, incomplete information, and satisficing.

The optimum decision is the most appropriate decision possible in light of what managers believe to be the most desirable consequences for the organization.

_____ refers to the loss of productivity in brainstorming sessions due to the unstructured nature of brainstorming.

WashUrCar, which operates five car washes, has to decide whether or not it should invest in the latest drying equipment. What type of decision does this represent for the organization?

Individual decision making is superior to group decision making in several respects.