Question 1

Match each term with the correct statement below.
-making a final choice

Accepted Answer

The answer of Match each term with the correct statement...

Question 2

Match each term with the correct statement below.
-the first step in the decision-making process; involves the assessment of opportunities and problems

Accepted Answer

Identifying opportunities and diagnosing problems is the first step in the decision-making process, as it involves recognizing and assessing both the opportunities available and the problems that need to be addressed.

Question 3

Match each term with the correct statement below.
-involves determining the value or adequacy of the alternatives generated

Accepted Answer

Evaluating alternatives involves assessing the value or adequacy of the different options that have been generated to address a problem or seize an opportunity.

Question 4

Match each term with the correct statement below.
-the bridge between reaching a decision and evaluating the results

Accepted Answer

The answer of Match each term with the correct statement...

Question 5

Match each term with the correct statement below.
-identifying the intended results the organization wants to achieve

Accepted Answer

Identifying objectives involves defining the intended results or goals that an organization aims to achieve. This step is crucial in strategic planning and decision-making processes as it sets the direction for all subsequent actions and decisions.

Question 6

Match each term with the correct statement below.
-assessing the impact of a decision

Accepted Answer

Monitoring and evaluating is the process of assessing the impact of a decision to determine its effectiveness and make necessary adjustments.

Question 7

Match each term with the correct statement below.
-approaches a decision from two opposite viewpoints and structures a debate between conflicting views

Accepted Answer

Dialectical inquiry is a method that involves structuring a debate between conflicting views or decisions from two opposite viewpoints, aiming to explore different perspectives and reach a more comprehensive understanding or solution.

Question 8

Match each term with the correct statement below.
-enhances creativity by encouraging group members to generate as many novel ideas as possible on a given topic without evaluating them

Accepted Answer

Brainstorming is a technique used to enhance creativity and generate a large volume of ideas from group members without immediate criticism or evaluation, allowing for free-flowing thought and innovation.

Question 9

Match each term with the correct statement below.
-uses experts to make predictions and forecasts about future events without ever meeting face-to-face

Accepted Answer

The Delphi technique is designed to gather the opinions of experts through a series of questionnaires with controlled feedback, aiming to reach a consensus on forecasts or predictions about future events. The experts do not meet face-to-face, which helps prevent the dominance of any single opinion and encourages independent thought.

Question 10

Match each term with the correct statement below.
-the recognition that people are limited by such organizational constraints as time, information, resources and their own mental capacities

Accepted Answer

Bounded rationality refers to the concept that in decision-making, individuals are constrained by limitations in information, resources, time, and cognitive capacity.

Question 11

Match each term with the correct statement below.
-the search for and acceptance of something that is satisfactory rather than perfect or optimal

Accepted Answer

Satisficing is a concept that describes the process of searching for and accepting an option that is satisfactory rather than optimal, reflecting a realistic approach to decision-making within the constraints of limited information and time.

Question 12

Match each term with the correct statement below.
-a prescriptive framework of how a decision should be made that assumes managers have completely accurate information

Accepted Answer

The rational-economic model is a prescriptive framework that assumes managers have completely accurate information, allowing them to make the most rational and optimal decision.

Question 13

Match each term with the correct statement below.
-the tendency to increase commitment to a previously selected course of action beyond the level that would be expected if the manager followed an effective decision-making process

Accepted Answer

Escalation of commitment refers to the phenomenon where individuals or organizations continue to invest time, money, or resources into a decision or action even when it becomes clear that it was a poor or wrong choice, rather than altering or abandoning the initial course of action. This behavior often occurs to justify previous investments or decisions, despite new evidence suggesting a different approach would be more beneficial.

Question 14

Match each term with the correct statement below.
-a model for participation in decision-making that helps managers determine when group decision-making is appropriate

Accepted Answer

The Vroom-Yetton model is specifically designed to help managers decide when to involve their teams in the decision-making process, making it a model for participation in decision-making.

Question 15

Match each term with the correct statement below.
-a descriptive framework for understanding that a person's cognitive ability to process information is limited

Accepted Answer

The answer of Match each term with the correct statement...

Question 16

Match each term with the correct statement below.
-a situation in which a person must decide whether or not to do something that, although benefiting oneself or the organization, may be considered unethical and perhaps illegal

Accepted Answer

An ethical dilemma involves a situation where a person faces a choice between actions that may benefit themselves or their organization but are considered unethical or potentially illegal.

Question 17

Match each term with the correct statement below.
-the concern for and attention to the process of making a decision that occurs when the decision-maker considers seven critical procedures

Accepted Answer

Vigilance refers to the concern for and attention to the process of making a decision, emphasizing the importance of considering various critical procedures to ensure a thorough and careful decision-making process.

Question 18

Match each term with the correct statement below.
-an unconscious analysis based on past experience

Accepted Answer

Intuition involves making decisions or arriving at conclusions without conscious reasoning, often based on past experiences and immediate perceptions.

Question 19

Why is obtaining reliable and accurate information so important to the first step of the decision-making process? Give an example (other than those in the textbook) which demonstrates how incomplete or poor information leads to poor decision-making.

Accepted Answer

The answer of Why is obtaining reliable and accurate information...

Question 20

Define the term satisficing. Are there occasions when satisficing is appropriate? Discuss your answer.

Accepted Answer

The answer of Define the term satisficing. Are there occasions...

Quiz 6: Managerial Decision Making

Match each term with the correct statement below. -making a final choice

Match each term with the correct statement below. -the first step in the decision-making process; involves the assessment of opportunities and problems

Match each term with the correct statement below. -involves determining the value or adequacy of the alternatives generated

Match each term with the correct statement below. -the bridge between reaching a decision and evaluating the results

Match each term with the correct statement below. -identifying the intended results the organization wants to achieve

Match each term with the correct statement below. -assessing the impact of a decision

Match each term with the correct statement below. -approaches a decision from two opposite viewpoints and structures a debate between conflicting views

Match each term with the correct statement below. -enhances creativity by encouraging group members to generate as many novel ideas as possible on a given topic without evaluating them

Match each term with the correct statement below. -uses experts to make predictions and forecasts about future events without ever meeting face-to-face

Match each term with the correct statement below. -the recognition that people are limited by such organizational constraints as time, information, resources and their own mental capacities

Match each term with the correct statement below. -the search for and acceptance of something that is satisfactory rather than perfect or optimal

Match each term with the correct statement below. -a prescriptive framework of how a decision should be made that assumes managers have completely accurate information

Match each term with the correct statement below. -the tendency to increase commitment to a previously selected course of action beyond the level that would be expected if the manager followed an effective decision-making process

Match each term with the correct statement below. -a model for participation in decision-making that helps managers determine when group decision-making is appropriate

Match each term with the correct statement below. -a descriptive framework for understanding that a person's cognitive ability to process information is limited

Match each term with the correct statement below. -a situation in which a person must decide whether or not to do something that, although benefiting oneself or the organization, may be considered unethical and perhaps illegal

Match each term with the correct statement below. -the concern for and attention to the process of making a decision that occurs when the decision-maker considers seven critical procedures

Match each term with the correct statement below. -an unconscious analysis based on past experience

Why is obtaining reliable and accurate information so important to the first step of the decision-making process? Give an example (other than those in the textbook) which demonstrates how incomplete or poor information leads to poor decision-making.

Define the term satisficing. Are there occasions when satisficing is appropriate? Discuss your answer.