Decision making and creativity
Which of the following are disadvantages of big data?
Leaked private info Cybersecurity breaches
A problem occurs when there is a gap between a(n) ___ and a(n) ___ situation.
actual; desired
When winning an argument with a rival overshadows the primary goal of trying to solve the problem, it is known as _________ ___________
goal displacement
Deciding to select a solution that meets some minimum, adequate qualifications is __________
satisficing
Which of the symptoms of groupthink protects against adverse information?
Mindguards
Examples of internal resources that constrain decision making process in the nonrational model include:
N/a
How can an individual or group avoid making mistakes in the decision making process
by reviewing past biases and influences by examining past decisions by understanding judgmental heuristics
The tendency to stick to an ineffective course of action when it is unlikely that a bad situation can be reversed is
escalation of commitment bias
the process of conscientiously using the best available data and evidence when making managerial decisions
evidence-based decision making
The cognitive biases we use to facilitate the decision-making process are
judgmental heuristics
What practical consideration might result in an individual rather than the whole group making a decision?
when there is limited time to make the decision
What are three practical things to consider in the decision-making process
-routine and frequency -information and communication -time constraints
Evidence-based decision making holds the promise of
1. Avoiding decision-making biases 2. Improving performance
The disadvantages of group decision making include
1. Social pressure reduces creativity 2. Goal displacement 3. A few people dominate
When you rely on intuition, which of the following are lacking?
1. The conscious awareness of the evoking cues 2. The evaluation of the effectiveness of the evoking cues
Daniel Kahneman describes two types of thinking in his book thinking, fast and slow. Why is system 2 "slow"?
Logical
How can artificial intelligence (AI) helps managers enhance business operations?
N/a
Which of the following are components of confirmation bias
N/a
Which of the following are components of confirmation bias?
N/a
The constraints in Herbert Simon's normative model of decision making include:
Normative
Managers can reduce the likelihood of escalation of commitment bias if they
Set minimum targets for performance and compare results to targets; make decision makers aware of the costs of persistence
In order to be successful decision makers, what should managers do
Spark creativity among employees. Train employees to conduct effective brainstorming. Identify decision-making styles and build on strengths.
What type of thinking is described by Daniel Kahneman as intuitive and unconscious thought?
System 1
When decision-makers are influenced by the first information they receive even if it is irrelevant, it is
anchoring bias
What is it called when a decision maker recognizes information that supports a decision, while ignoring contracting information?
confirmation bias
Advantages of Group Decision Making
greater pool of knowledge, different perspectives, intellectual stimulation, better understanding of decision rationale, deeper commitment to the decision
cognitive shortcuts or biases that are used to simplify the process of making decisions are known as
judgmental heuristics
Big data, the vast quantity of data available to decision makers, can
make information more transparent and usable. be used to develop new products and services. enhance productivity.
What models of decision making explain how managers really come to decisions?
nonrational
A ___ is a situation in which it is possible to do something that eclipses expectations
opportunity
Characteristics of the rational decision-making model include the assumption that managers:
possess all information needed to make the best decision are objective
The decision-making model that assumes managers are fully objective and have all the data needed is the:
rational decision modeling
what is it called when decisions are based on past or similar information or situations?
representative bias
A decision tree can be described as
showing the process underlying decisions showing the consequences of making decisions
Which of the following elements influence decision makers falling into the trap of anchoring bias
stereotypes feedback impressions
What are the three ways managers use evidence or data in the decision-making process
to support a decision to inform a decision to make a decision
