Man chapter 4 quiz

Which aspect of decision making using the administrative model better reflects subjective considerations?

behavioral

What refers to a condition in which the availability of each alternative and its potential payoffs and costs are all associated with probability estimates?

state of risk

Rico's tool company just acquired coney tool:

A coalition

Which of the following statements is true in the context of decision making under a condition of uncertainty

A decision maker greatly relies on intuition, judgment, and experience.

Rather than prescribing how decisions should be made, the _____ model describes how they are made. a. classical b. rational c. administrative d. realistic e. practical

Administrative

In decision making, a condition of _ exists when a decision maker knows what the alternatives are and what conditions are associated with each alternative?

Certainly

Professor Chavez needs to choose a biology textbook for her class. Both textbooks under consideration are known for the clarity and extensiveness of their context. When Chavez chooses a textbook, she is making a decision in a state of ?

Certainty

In which steps of the rational decision making model does the decision maker test the feasibility and satisfaction of alternative before choosing one?

Evaluating alternatives

What is a commitment to finding and using the best theory and data available at the time to make a decision

Evidence based management

What is one of the five principles of evidence based management when considering recommendations

Look for risk and drawbacks

Which of the following is an advantage of group decision making when compared to individual making

More alternatives are likely to be generated

As the head of human resources, Woojin has assembled a team to consider ways to manage the cost of health care and other benefits. He made sure to include a variety of employees—single, married, single parents, and older workers—on the team. Which of the following advantages will this team provide?

More alternatives can be identified and evaluated.

nonprogrammed decisions

Occur more frequently than programmed decisions

Bhavik needs to address overcapacity at his plant, but he wants to avoid inappropriate assumptions and common pitfalls associated with making decisions. He wants his approach to be based on logic and sound reasoning. He also expects that his strongly held belief in benchmarking will enhance the quality of his decision. Which decision-making model should Bhavik use in this situation?

Rational

Eli wants to buy a red convertible and notices the local dealership is offering rebates. Eli decided to buy the car without comparing the model to others. Eli decided is an example of

Satisficing

Which of the following is true in the context of decision making under a state of risk

The decision maker used probability estimates to assess alternatives

How do manager with high level risk propensity compare with their more conservative counterparts?

They are more likely to achieve big success with their decisions and to incur greater losses.

What is a coalition?

an informal alliance of individuals or groups formed to achieve a common goal

According to evidence based management approach managers must

be committed to fact-based decision making

Which aspect of decision making using the administrative model better reflects subjective considerations

behavioral

The nominal group decision making technique

is used to generate creative and innovative ideas.

R&D at Venus Electronics Inc. has created an innovative new device. Management now needs to decide if Venus should launch this device as its next new product. This is an example of a(n) _____ decision.

nonprogrammed

One disadvantage of group decision making is that

one person may dominate the group

After winning a large contract, Aisha needs to decide good to staff the project. She is currently calculating the cost of hiring host employees, using overtime, and adding a second shift. Which stage of the decision making process in Aisha in

Identifying alternatives

Which of the following statements is true about the process of decision making ?

It includes putting the chosen alternative to practice.

Which of the following statements is true about the administrative model of decision making

It suggests that managers tend to satisfice when making decisions.

When the price of oil dropped, the demand for sport utility vehicles increased. Automakers chose to increase production of full size SUV's in order to increase profitability. Which step in the rational decision making model is illustrated in the scenario?

Selecting the best alternative and implementing it