MGMT 301 -- Chapter 7 (Quiz 2)

Which one of the following best describes the decisions made by a person with an analytical style?

Carefully considers lots information and alternatives

Knowledge of decision-making styles can assist managers in many ways except for which one of the following?

It increases the biases of the manager toward their favorite style.

True or false: A decision tree is an analytical tool that can help managers understand the possible consequences of their decisions and to create a plan to reach a goal.

True

True or false: CEOs are at a higher risk of being fired for ethical violations than ever before because the public has become less forgiving of unethical behavior.

True

Kendall is frustrated with her co-worker Jill. She feels that Jill doesn't care that their manager seems to be showing favoritism toward the two other members of their team. Jill just focuses on the work she is supposed to do, which demonstrates her ______.

value orientation

Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making? (Choose every correct answer.) -Is it profitable? -Is it ultimately effective? -Is it ethical? -Is it creative? -Is it feasible?

-Is it ultimately effective? -Is it ethical? -Is it feasible?

Successful implementation of major decisions requires which of the following? (Choose every correct answer.) -Ignoring ethical dilemmas -Careful planning -Sensitivity to those affected by the decision -Reliance on the easy way out of the problem

-Careful planning -Sensitivity to those affected by the decision

Which of the following career-readiness competencies relate to evidence-based decision making? (Choose every correct answer.) -Computational thinking -Information technology application -Critical thinking and problem solving -Social intelligence -Self-motivation

-Computational thinking -Information technology application -Critical thinking and problem solving

Which steps are recommended for establishing a process or method for making decisions? (Choose every correct answer.) -Conduct a cost-benefit analysis. -Ignore feedback or opinions from others and go with your gut instinct. -Consider whether the decision is consistent with your values. -Analyze the situation.

-Conduct a cost-benefit analysis. -Consider whether the decision is consistent with your values. -Analyze the situation.

Which of these are reasons for the increase in ethical violations among business leaders in the 21st century? (Choose every correct answer.) -It has become customary for business leaders to self-report unethical behavior. -Digital communications are more susceptible to hackers and whistleblowers. -The 24/7 news cycle places more scrutiny on unethical behavior. -Globalization allows businesses to operate in regions where ethical risks are greater.

-Digital communications are more susceptible to hackers and whistleblowers. -The 24/7 news cycle places more scrutiny on unethical behavior. -Globalization allows businesses to operate in regions where ethical risks are greater.

Which of the following business needs are typically supported by artificial intelligence? (Choose every correct answer.) -Engaging customers and employees -Analyzing data -Interviewing potential job candidates -Automating business processes

-Engaging customers and employees -Analyzing data -Automating business processes

What are common results of groupthink? (Choose every correct answer.) -Ideas that are too ambitious or unorthodox -Failure to consider new information -Loss of new ideas -Infighting and conflict

-Failure to consider new information -Loss of new ideas

Which of the following are the top challenges associated with AI? (Choose every correct answer.) -Implementation -Enhanced decision making -Data issues -Cost

-Implementation -Data issues -Cost

Which of these describe how knowledge of decision-making styles affects managers' work? -It enables managers to more accurately blame others for problems. -It allows managers to better identify personal strengths and weaknesses. -It reduces managers' ability to predict future challenges. -It gives managers an understanding of how different people reach different conclusions.

-It allows managers to better identify personal strengths and weaknesses. -It gives managers an understanding of how different people reach different conclusions.

Which of these assumptions are made in the rational model of decision making? (Choose every correct answer.) -Managers will not be limited by time or money constraints when implementing the chosen solution. -Managers will be influenced by their own self-interest when choosing among alternative courses of action. -Managers have complete, error-free information about alternative courses of action and their consequences. -Managers are able to make logical decisions without prejudice or emotional blind spots. -Managers will always select the course of action that they know will most benefit the organization.

-Managers have complete, error-free information about alternative courses of action and their consequences. -Managers are able to make logical decisions without prejudice or emotional blind spots. -Managers will always select the course of action that they know will most benefit the organization.

A recent survey of U.S. companies showed that most companies use AI to do which of the following? (Choose every correct answer.) -Optimize internal processes -Make more effective decisions -Enhance current offerings -Replace employees

-Optimize internal processes -Make more effective decisions -Enhance current offerings

Which of these are examples of business analytics? (Choose every correct answer.) -Marketing plans -Portfolio analysis -Time-series forecast -Advertising campaigns -Groupthink

-Portfolio analysis -Time-series forecast

People with a conceptual decision-making style are likely to do which of the following? (Choose every correct answer.) -Rely on intuition -Act autocratically -Focus on the facts -Take risks -Find creative solutions

-Rely on intuition -Take risks -Find creative solutions

Which of the following are examples of what can function as the first stage in rational decision making by managers? (Choose every correct answer.) -Low staff turnover -Sales shortfalls -Poor product quality -Customer complaints

-Sales shortfalls -Poor product quality -Customer complaints

Which of the following are examples of big data? (Choose every correct answer.) -Surveillance data -Data in corporate databases -Social network communications -Web-browsing data trails -Unrecorded customer interactions

-Surveillance data -Data in corporate databases -Social network communications -Web-browsing data trails

What are three characteristics that affect decision making by a group? (Choose every correct answer.) -The knowledge of group members -The efficiency of the group -The size of the group -The fact that groups tend to make bad decisions -The gender differences present in the group

-The knowledge of group members -The efficiency of the group -The size of the group

Decision-making styles vary along which two dimensions? (Choose every correct answer.) -Defensive avoidance -Tolerance for ambiguity -Value orientation -Risk multiplication

-Tolerance for ambiguity -Value orientation

Which questions should you ask when developing ready-made solutions based on past experiences? (Choose every correct answer.) -What lessons can you derive from this experience? -What was the solution? -Who was most responsible for the problem? -What was the problem?

-What lessons can you derive from this experience? -What was the solution? -What was the problem?

List the steps of the rational model of decision making in the correct order, with the first step listed at the top and the last step listed at the bottom. -Identify the problem or opportunity -Implement and evaluate the solution chosen -Evaluate alternatives and select a solution -Think of alternative solutions

1. Identify the problem or opportunity 2. Think of alternative solutions 3. Evaluate alternatives and select a solution 4. Implement and evaluate the solution chosen

When making decisions for her department, Ellie tends to take a long time because she takes into consideration a large amount of information. What type of decision-making style does Ellie demonstrate?

Analytical

What is the fundamental concern shared among all critics of artificial intelligence?

Artificial intelligence has the capacity to become smarter than humans, threatening their very existence.

What is the most common type of AI used today?

Automated business processes

Rather than holding formal meetings in the board room, Kevin prefers meeting with his group over lunch at a restaurant. He feels that his group opens up more during these lunches and opinions are openly exchanged. Which style of decision making does Kevin use?

Behavioral

Which decision-making style is the most people oriented of the four styles?

Behavioral

What is the name of a technique used to help groups generate multiple ideas for solving problems in which potential ideas or solutions are collected (sometimes anonymously) and written on a board or flip chart?

Brainstorming

Which decision-making style is characterized by a high tolerance for ambiguity and the consideration of many options together with a willingness to take risks?

Conceptual

Jackson likes to hear the facts of a situation and make a quick decision based on these facts. His employees say he likes to focus on the here and now and doesn't consider future repercussions of his decisions. What type of decision-making style does Jackson use?

Directive

What is the most valuable competitive resource for a manager who needs alternative solutions to a problem?

Employees with ideas

What is the third stage of the rational model of decision making?

Evaluate alternatives and select a solution

True or false: Overconfidence bias is the tendency of decision makers to be influenced by the way a situation or problem is presented to them.

False

True or false: Soft skills do not have a role in evidence-based decision making.

False

True or false: Value orientation reflects the extent to which a person is unethical.

False

Jai is a member of a tight-knit team at work that avoids any kind of disagreement. Team members, therefore, avoid considering new ideas. What behavior is Jai's team exhibiting?

Groupthink

______ are strategies such as "rules of thumb" that simplify decision making.

Heuristics

What is the best way to develop a ready-made solution?

Identify best practices and turn them into standard operating procedure.

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

Intellectual stimulation

Which models are characteristic nonrational models of decision making?

Models that describe how managers actually make decisions

What is the recommended step you should take after making a decision?

Observe the results, then conduct a post-mortem.

Evidence-based management attempts to introduce which factor into the decision-making process?

Rationality

Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to make optimal decisions?

The nonrational model

Which of the following is an accurate description of decision making?

The process of identifying and choosing alternative courses of action

Which model of decision making explains how managers should use logic to determine the optimal means of furthering the organization's best interests?

The rational model

When Kendra's manager asked the team to come up with new ideas for attracting people to their trade show booth, Kendra suggested installing a video game in the booth. Which part of the rational decision-making process does Kendra's idea exemplify?

Think up alternative solutions.

Which of the following is a primary use of AI among U.S. companies?

To gain competitive advantage

An online retailer uses complex data-mining software to evaluate the preferences and buying habits of its customers and makes decisions based on these findings. This is an example of the use of ______ in the decision-making process.

analytics

A consensus is reached when all members are able to express their opinions ______.

and reach agreement to support the final decision

Stores of data that are so large or complex that it is difficult to process them using traditional database management applications are known as ______.

big data

Michelle met with her five employees around a table and asked each of them to take five minutes to write down what they personally thought their new facility should include. She then collected the information and wrote it on the white board for all of them to view and decide upon. Michelle is using the ______ technique.

brainstorming

A _____ is a choice made from available alternatives.

decision

People with the ______ style of decision making are action oriented and like to focus on facts. They also tend to be autocratic-type managers.

directive

All the following are characteristics of group decision making except ______.

groups make decisions quickly

A person's decision-making style is a combination of how a person perceives something as well as ______.

how they respond to it

The first stage in the rational decision-making process involves ______.

identifying the problem

In the fourth stage of rational decision making, managers will ______.

implement and evaluate the chosen solution

Bagley's decision tree is specifically designed for use when ______.

making ethical choices

As a manager, Colin realizes that there is no single formula for making easy decisions. In reality, business decisions he has to make involve uncertainty and risk. This describes the ______ model of decision making.

nonrational

Evidence-based decision relies on ______.

observations about what actually works

The ______ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy.

overconfidence

You fall prey to the overconfidence bias when you ______ your knowledge or expertise in a decision situation.

overestimate

The rational model of decision making is considered ______ in that it describes how managers should make decisions rather than how they actually make them.

prescriptive

Even though not everyone in the meeting agreed with the final decision, the group decided to proceed and replace all existing machine parts in the warehouse. In this situation, the group had ______.

reached a consensus

Heuristics are strategies that ______ the process of making decisions.

simplify

All of the following are advantages to group decision making except ______.

superiors dominating or intimidating the group