Week 4 Retention Quiz Chapters 3 & 11

What is the most challenging or difficult step in the rational decision-making process?

Generate alternatives

Emma is ready to buy new tires for her car, and she finds a great sale. However, after she analyzes the brand of tire she wants for two weeks and whether she needs snow tires too, the tires are no longer on sale. Emma lost out on the sale because of

analysis paralysis

First impressions

are resilient even in the face of contrary evidence

Anita finishes her college semester on April 15. She will be home from April 15 until May 20 when she is scheduled to have her wisdom teeth removed. She will be going on a family vacation during the third week in July and will be returning to school on August 10 for majorette camp. Anita is looking for a job for the summer. She figures she will take the first job that pays minimum wage and will allow her flexibility for her dental appointment and vacation. Anita is making a decision using the

bounded rationality decision-making model

Making choices among alternative courses of action, including inaction, is

decision making

Hindsight bias is the opposite of framing bias

false

Innovation and creativity are the same thing

false

Bill is the quarterback of his college football team. The team was 10-0, but lost this week after what Bill says was a very bad call by the referee. Bill seldom says anything about how the referees called any game, but he is very vocal about this one. You know that Bill works hard both on the field and off. You talk to other players on the team and they complain about the referee's call also. In the preceding story, both Bill and the other players expressed concern about the referee's call. This demonstrates

high consensus

The bounded rationality decision-making model

recognizes the limitations of decision making processes by having individuals knowingly limit their options to a manageable set and choose the best alternative without conducting an exhaustive search of alternatives

Beth, Ramon and Nandini just walked out of the office where they delivered a mock commercial for a proposed client's cereal. Beth says to her co-presenters, "I'm so sorry I messed up during the presentation. I really did not mean to put up the slide with last year's cereal box on it instead of the one for this year. I know we won't get the account now, and it's all my fault." Beth is exhibiting

self-effacement bias

The professor announced the first day of class: "Students are not good at meeting deadlines. I guarantee you that someone will email me the day after a due date and ask if I will accept a paper for partial credit." Yesterday the first paper was due in the professor's class. He just checked his email and a student inquired whether the paper could be turned in for partial credit today. This is an example of

self-fulfilling prophecy

To enhance organizational creativity, a manager might consider focusing on

team composition

When the goal of the decision making exercise is to make a satisfactory decision with time, you should utilize

the bounded rationality decision-making model

A series of steps that decision makers should consider if their goal is to maximize their outcome and make the best choice describes

the rational decision-making model

In the intuitive decision-making process, only one choice is considered at a time

true

Individuals with an economic value orientation tend to make more unethical choices

true

Our visual perception is biased because we do not perceive objects in isolation

true

The three factors that evaluate the level of creativity in the decision-making process are fluency, flexibility, and originality

true

Wildstorming is a process where the group focuses on ideas that are impossible and then tries to imagine what would need to happen to make them possible

true

An example of a question requiring an operational decision in response is:

How often do I go back to the stockroom to get additional products for display?