Question 1

Confirmation error occurs when the decision maker focuses only on information and data that confirms a decision already made.

Accepted Answer

A) True 
 B)False  True

Question 2

Neither supply chain management nor customer relationship management can be improved with information technology IT)connections.

Accepted Answer

A) True 
 B)False  False

Question 3

The availability heuristic bases decisions on recent information or events.

Accepted Answer

A) True 
 B)False  True

Question 4

Most problem situations encountered by higher-level managers can be classified as routine and structured.

Accepted Answer

A) True 
 B)False

Question 5

__________ refers to the preparation of managers and others to deal with unexpected high-impact events that threaten an organization's well-being.

Accepted Answer

A)  Fiscal responsibility
B)  High context planning
C)  Relief anticipation management
D)  Impact avoidance goal setting
E)  Crisis management

Question 6

A performance opportunity occurs when actual performance is less than desired performance.

Accepted Answer

A) True 
 B)False

Question 7

The second step of the decision-making process will be effective when alternatives meet ethical standards that are acceptable to the organization's various stakeholders.

Accepted Answer

A) True 
 B)False

Question 8

Intuitive thinkers approach problems in a flexible and spontaneous fashion.

Accepted Answer

A) True 
 B)False

Question 9

Programmed decisions use solutions already available from past experience to solve structured problems.

Accepted Answer

A) True 
 B)False

Question 10

Information technology facilitates all of the following except:

Accepted Answer

A)  Plays a role in customer relationship management
B)  Creates functional barriers between organizations
C)  Controls costs in supply chain management
D)  Allows outsourcing and other business
E)  Helps to connect people,teams,and departments

Question 11

The __________ is particularly useful in describing how people make decisions under conditions of risk and uncertainty.

Accepted Answer

A)  Classical decision model
B)  Executive decision model
C)  Behavioural decision model
D)  Descriptive decision model
E)  Political decision model

Question 12

Only major managerial decisions need to meet the criteria of the "ethics double check."

Accepted Answer

A) True 
 B)False

Question 13

The satisficing error refers to the failure to adequately involve those persons whose support is necessary to ensure a decision's implementation.

Accepted Answer

A) True 
 B)False

Question 14

In the final stage of the decision-making process,a modified or new solution may need to be generated if the original solution appears to be inadequate.

Accepted Answer

A) True 
 B)False

Question 15

Escalating commitment refers to the tendency to increase effort and perhaps apply more resources to pursue a course of action that is not working.

Accepted Answer

A) True 
 B)False

Question 16

Which statement about heuristics is correct?

Accepted Answer

A)  The availability heuristic occurs when people use information from memory as a basis for assessing a current situation or event.
B)  The representativeness heuristic occurs when people assess the likelihood of something occurring based on its similarity to a stereotyped set of occurrences.
C)  The anchoring and adjustment heuristic involves making decisions based on alterations to a previously existing value or starting point.
D)  All of the above.
E)  None of the above.

Question 17

The third step of the decision-making process involves __________.

Accepted Answer

A)  Generating alternative solutions and evaluating them.
B)  Selecting a preferred course of action
C)  Implementing the solution.
D)  Gathering information,processing information,and deliberating.
E)  Evaluating the results.

Question 18

A cost/benefit analysis compares the costs of implementing an alternative with its expected benefits.

Accepted Answer

A) True 
 B)False

Question 19

When people face complex environments and have limited information,they often use simplifying strategies for decision making.These simplifying strategies are known as __________.

Accepted Answer

A)  Uncertainty reduction.
B)  Heuristics.
C)  Optimizing.
D)  Rationalization.
E)  Work simplification.

Question 20

Explain how risk,certainty,and uncertainty influence the decisions that managers make.

Accepted Answer

The answer of Explain how risk,certainty,and uncertainty influence the decisions...

Exam 13: Information and Decision-Making

Confirmation error occurs when the decision maker focuses only on information and data that confirms a decision already made.

Neither supply chain management nor customer relationship management can be improved with information technology IT)connections.

The availability heuristic bases decisions on recent information or events.

Most problem situations encountered by higher-level managers can be classified as routine and structured.

__________ refers to the preparation of managers and others to deal with unexpected high-impact events that threaten an organization's well-being.

A performance opportunity occurs when actual performance is less than desired performance.

The second step of the decision-making process will be effective when alternatives meet ethical standards that are acceptable to the organization's various stakeholders.

Intuitive thinkers approach problems in a flexible and spontaneous fashion.

Programmed decisions use solutions already available from past experience to solve structured problems.

Information technology facilitates all of the following except:

The __________ is particularly useful in describing how people make decisions under conditions of risk and uncertainty.

Only major managerial decisions need to meet the criteria of the "ethics double check."

The satisficing error refers to the failure to adequately involve those persons whose support is necessary to ensure a decision's implementation.

In the final stage of the decision-making process,a modified or new solution may need to be generated if the original solution appears to be inadequate.

Escalating commitment refers to the tendency to increase effort and perhaps apply more resources to pursue a course of action that is not working.

Which statement about heuristics is correct?

The third step of the decision-making process involves __________.

A cost/benefit analysis compares the costs of implementing an alternative with its expected benefits.

When people face complex environments and have limited information,they often use simplifying strategies for decision making.These simplifying strategies are known as __________.

Explain how risk,certainty,and uncertainty influence the decisions that managers make.