Prin

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.

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.

decision

A _____ is a choice made from available alternatives.

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

According to psychologist Daniel Kahneman, which of the following characteristics describe System 2 thinking

Analytical Conscious Deliberate

Turbine Manufacturing uses artificial intelligence in its factories to automate basic tasks, freeing human employees to perform more high-level finishing and quality assurance tasks. Which area of artificial intelligence does this illustrate?

Assisted intelligence

An AI application that learns from human inputs in order to assist humans in making better decisions is known as ____________ intelligence

Augmented

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

Stores of data that are so large or complex that it is difficult to process them using traditional data base 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.

Brainstroming

Successful implementation of major decisions requires which of the following?

Careful planning Sensitivity to those affected by the decision.

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

Carefully considers lots information and alternatives

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

Which of the following are examples of what can function as the first stage in rational decision making by managers

Customer complaints Sales shortfalls Poor product quality

People with a(n) _______ decision-making style have a low tolerance for ambiguity and are task oriented. They are efficient, logical, and practical in their approach to solving problems and making decision. Which style do they 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: 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

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

Intellectual Simulation

Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making.

Is it ethical Is it ultimately effective is it feasible

Which of these describe how knowledge of decision-making styles affects managers' work?

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

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.

What are common results of groupthink?

Loss of new ideas Failure to consider new information

Which of these assumptions are made in the rational model of decision making?

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.

Which models are characteristic nonrational models of decision making?

Models that describe how managers actually make decisions

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

Opinion

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

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

Rationality

People with a conceptual decision-making style are likely to do which of the following?

Rely on intuition Take risks Find creative solutions

Heuristics are strategies that ______ the process of making decisions.

Simplify

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

The nonrational model

The process of iWhich 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 these are examples of business analytics?

Time-series forecast Portfolio analysis

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

Decision-making styles vary along which two dimensions?

Value orientation Tolerance for ambiguity

Which of the following are examples of Big Data?

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

Heuristics

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

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

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

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

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

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

According to psychologist Daniel Kahneman, System 1 thinking is _____.

intuitive and largely unconscious

Evidence-based decision relies on ______.

observations about what actually works

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.

prescriptive

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

All of the following are advantages to group decision making EXCEPT _____.

superiors can dominate or intimidate the group

What are three characteristics that affect decision making by a group?

the knowledge of group members the size of the group the efficiency of the group