Chapter 7- Smartbook Quiz 20

During a management workshop, Ishaan, the HR manager, spoke about making decisions related to firing an employee. He said, "I have several rules of thumb that I use to make a decision. First, I ask if it's legal and then if it's ethical." He then laid out several other steps he uses in the decision-making process related to firing. Ishaan's "rules of thumb" are also known as heuristics.

True

Evidence-based management includes making decisions based on what actually works versus what ought to work.

True

When brainstorming, you should go for quantity over quality.

True

What is the goal of conducting a project post-mortem?

To determine what could be done better and incorporate those insights into future decisions

Stores of data that are so vast that conventional database management systems cannot handle them, and very sophisticated analysis software and supercomputing-level hardware are required, are known as ________. These data include not only data in corporate databases but also web-browsing data trails, social network communications, sensor data, and surveillance data.

Big data

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

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

When Bedisa is analyzing underlying causes, she is engaged in

Diagnosis

A local university is facing some tough decisions, so they are using the decision tree, which contains individuals, websites, and organizations that specialize in handling sensitive and difficult decisions.

False

A logic manager is someone trained about matters of ethics in the workplace.

False

Evidence-based management includes bragging about new products you have in development.

False

Knowing your decision-making style does not really help you determine your strengths and weaknesses as a decision maker, but it can help you understand when a decision needs to be made.

False

To reduce the escalation of commitment, Marlee, the CEO, allows herself to be very influenced by the way a problem with her team is presented to her.

False

Why should you encourage Derin to use groups to make decisions?

Groups have a greater pool of knowledge.

In the late 1800s, David began selling books door-to-door. To entice purchases from female customers, he would include perfume samples as thank you gifts. When the perfume became more popular than the books, David shifted the focus of his business that lead to his founding of Avon. This is an example of a manager viewing his organization as an unfinished, changeable prototype that won't be ruined by dangerous new ideas. Group starts

True

Research shows that most managers vary between two or three decision-making styles, and that decision-making styles vary across occupations, job level, and countries.

True

To decide how much an insurance policy should cost a customer, underwriters use ________, such as historical industry trends and loan characteristics, to predict risk levels.

data analytics

A ________ is a graph of decisions and their possible consequences.

decision tree

Terrence's team is very close and tends to agree on most decisions with little discussion. Terrence should be concerned about

groupthink

Colin, who is a paralegal for a powerful Manhattan law firm, likes the fast pace of his work and the fact that things are always changing there. Colin can be said to

have a high tolerance for ambiguity.

The toughest challenges to overcome with artificial intelligence are

implementation, data issues, and cost.

Which models of decision making describe how managers actually make decisions?

nonrational

Rosa hired Luis from Cajun College. He was an amazing employee and exceeded all her expectations. The next year, Rosa received an application for a job opening from another graduate from Cajun College. She was very excited to hire another outstanding candidate. Rosa has ________ bias.

representativeness