Adaptive Learning Assignment 13
Put the steps used for multiple-criteria decision analysis (MCDA) in the correct order.
1. Describe the context 2. Identify available options 3. Identify and select objectives and criteria 4. Measure each criterion 5. Calculate the values
Put the steps of 5 Whys analysis in the correct order starting with the first step.
1. Identify the current problem. 2. Ask why the problem happened. 3. Continue to ask why. 4. Consult with members of the organization.
Many decisions required a multistep process. In order to better identify and to simplify the decision-making process, Herbert Simon created a four-stage approach to decision making. Put the steps of the decision-making process in the correct order.
1. Intelligence 2. Design 3. Choice 4. Implementation
Select the true statements about the analytical hierarchy process (AHP) model.
A multi-criteria programming model that uses an analytical hierarchy process for decision making. Intricate situations and scenarios are analyzed by deconstructing the problem into a visible hierarchy that can be analyzed through comparison. Allows for many variables or conditions to be considered and prioritized, resulting in the selection of the best alternatives or projects.
Describe the importance of information quality. More than one answer may be correct.
According to the Data Management Body of Knowledge, the process of data quality management assures data is "fit for consumption and meet the needs of data consumers." A staggering amount of money is lost as a result of bad data. To avoid costly errors, organizational decisions need to be based on high-quality information.
Match the description to the correct characteristic of information quality. Data collection methodologies and techniques should be valid. Data should be in the correct format and collected using legitimate techniques. Data should be available when needed. Additionally, data should be up-to-date and reflect current market conditions. Using data from re-defined timeframes and timely use of data creates timeliness. Multiple versions of a single item of data should be the same. Data should be consistent in content and format.
Data collection methodologies and techniques should be valid. Data should be in the correct format and collected using legitimate techniques: validity Data should be available when needed. Additionally, data should be up-to-date and reflect current market conditions. Using data from re-defined timeframes and timely use of data creates timeliness: timeliness Multiple versions of a single item of data should be the same. Data should be consistent in content and format: consistency
Corporate-level managers/executives are responsible for making decisions that impact profitability and the short-term and long-term success of an organization. In order to get the information they need, managers rely on output provided from ____. These systems are developed by creating a procedure for uncovering precisely what performance metrics are important to assist in making management decisions and what resources are needed to develop these systems.
Executive Support Systems (ESS)
Select the true statements about management filters.
Filters allow managers the ability to search the specific type of data that is needed for a specific decision. Management filters are provided by many project management software applications. Filters are often predefined by the organization and are designed to eliminate the time-consuming task of searching through large volumes of data.
Match the step of multiple-criteria decision analysis (MCDA) to the correct description. Identify the current organizational landscape, stakeholders, and key personnel involved in the decision-making process in order to clearly define the context. Compare different options in order to determine which are best candidates for measure. In MCDA, consequences play an important role in the output that is created. An example of a consequence is the determination of return on investment (ROI) after money has been spent on new equipment. Determine the weight or level of importance of each criterion. The scores for each criterion are multiplied (with their weight) and the scores for each criterion are then added together.
Identify the current organizational landscape, stakeholders, and key personnel involved in the decision-making process in order to clearly define the context: describe the context Compare different options in order to determine which are best candidates for measure: identify available options In MCDA, consequences play an important role in the output that is created. An example of a consequence is the determination of return on investment (ROI) after money has been spent on new equipment: identify and select objectives and criteria Determine the weight or level of importance of each criterion: measure each criterion The scores for each criterion are multiplied (with their weight) and the scores for each criterion are then added together: calculate the values
Match the step of the 5 Whys methodology to the correct description. In order to identify the current problem, it is necessary to provide a complete description of the problem. In this step, it is important to ask why the problem occurred. If the root cause of the problem is not clearly identified, continued to ask why questions. Once the why questions have been asked and information documented, it is important to consult with members of the organization to come up with an agreed upon root cause of the problem.
In order to identify the current problem, it is necessary to provide a complete description of the problem: identify the problem In this step, it is important to ask why the problem occurred: ask why the problem happened If the root cause of the problem is not clearly identified, continued to ask why questions: continue to ask why Once the why questions have been asked and information documented, it is important to consult with members of the organization to come up with an agreed upon root cause of the problem: consult with members of the organization
Match the element of the BAO framework to the correct description. Includes information on the way various psychic states including beliefs, desires, and opportunities about the operating environment are formed. Refers to how the psychic states translate into action by the organization. Explains the methods used to measure and monitor the belief and action steps of the BAO framework.
Includes information on the way various psychic states including beliefs, desires, and opportunities about the operating environment are formed: belief formation Refers to how the psychic states translate into action by the organization: action formation Explains the methods used to measure and monitor the belief and action steps of the BAO framework: outcome terminology
Match the stage of Herbert Simon's four-stage approach to decision-making to the correct description. Intelligence Design Choice Implementation
Intelligence: This stage includes the discovery, identification, and cognition of the problems an organization is experiencing. Managers often ask, "What is the problem?" in this stage. Design: This process includes the identification and exploration of the solutions to a problem. Managers often ask, "What are the possible solutions?" Choice: In this stage identified alternatives are considered, measured, and eventually the most viable solution is selected. Managers often ask, "What is the best solution?" Implementation: This stage involves choosing a solution from all identified alternatives, executing the solution, and monitoring the solution to ensure it is working.
Henry Mintzberg, a Canadian researcher on management and business, classifies management roles into three categories. Match the category to the appropriate description. Managers perform as leaders for the organization. They represent their business to stakeholders outside the organization and perform a number of figurative responsibilities. In their informational capacity, managers are the central location for information provided by the organization. Managers help to initiate new strategic objectives, handle conflicts, and distribute budgetary resources to departments and employees under their supervisory control.
Managers perform as leaders for the organization. They represent their business to stakeholders outside the organization and perform a number of figurative responsibilities: interpersonal roles In their informational capacity, managers are the central location for information provided by the organization: informational roles Managers help to initiate new strategic objectives, handle conflicts, and distribute budgetary resources to departments and employees under their supervisory control: decisional roles
Match the type of MIS report to the correct description. Pinpoints outliers that vary from the norm. This could be when a production quota falls below forecasted levels or when performance of sales associates falls below a pre-defined threshold Track current and predicted future levels of production and whether production goals will be met. Provide information about future expectations and whether current conditions will meet, exceed, or fail to meet these expectations.
Pinpoints outliers that vary from the norm. This could be when a production quota falls below forecasted levels or when performance of sales associates falls below a pre-defined threshold: exception reports Track current and predicted future levels of production and whether production goals will be met: production reports Provide information about future expectations and whether current conditions will meet, exceed, or fail to meet these expectations: forecasting reports
What is the difference between production reports and forecasting reports about production?
Production reports also fully track current levels of production.
Select the true statements about structured management decisions.
Structured decisions are made easier through the creation of defined processes and procedures. Structured decisions are regularly made by individual employees and teams and frequently include operational decisions. Structured decisions involve tasks and choices that are routine.
Select the true statements about the balanced scorecard method for decision making.
The balanced scorecard framework was developed by Robert Kaplan and David Norton and is used to structure an organization's strategic plan and goals using measurable outcomes of organizational performance.* Measurable outcomes on a balanced scorecard include financial, internal business processes, learning and growth, and customers. In order to get the information they need to create a balanced scorecard, managers rely on output provided from executive support systems (ESS).
Match the characteristic of information quality to the correct description. This refers to how well-collected data describes and associates with the real-world conditions it is trying to describe. Data is well-structured and includes all elements that were intended to be collected. Data to be collected should be useful to the organization. Data should be relevant and usable. There is no need to collect data just for the sake of collecting it. Data collection methodologies and techniques should be valid. Data should be in the correct format and collected using legitimate techniques.
This refers to how well-collected data describes and associates with the real-world conditions it is trying to describe: accuracy Data is well-structured and includes all elements that were intended to be collected: completeness Data to be collected should be useful to the organization. Data should be relevant and usable. There is no need to collect data just for the sake of collecting it: relevance Data collection methodologies and techniques should be valid. Data should be in the correct format and collected using legitimate techniques: validity
Select the true statements about unstructured management decisions.
Unstructured decisions are often executed by higher-level management and include strategic decisions such as market entry or exit, capital budgeting, and strategic goal development. Unstructured decisions involve management insight and judgment.
When investigating a solution, it is important to take into account a variety of considerations. Match the consideration to the correct description. When investigating solutions, acquaint yourself with what you know and don't know. Consider the information you already have, consider what additional information you need. When designing a solution, you should consider other possible plans or ways to overcome the problem. Creating multiple plans (Plan A, Plan B, Plan C, etc.) helps to visualize all possible solutions. Includes the analysis of the money, time, effort, and essentially anything expended when implementing a solution.
When investigating solutions, acquaint yourself with what you know and don't know. Consider the information you already have, consider what additional information you need: identify what you know and don't know When designing a solution, you should consider other possible plans or ways to overcome the problem. Creating multiple plans (Plan A, Plan B, Plan C, etc.) helps to visualize all possible solutions: consider all outcomes Includes the analysis of the money, time, effort, and essentially anything expended when implementing a solution: allocation of resources
The people in the organization who make the decisions often face difficulties when evaluating alternatives as it can be difficult to measure the strengths and weaknesses of each alternative. When managers choose between alternatives, they often compare alternatives against selection criteria which may include which of following?
When managers choose between alternatives, they often compare alternatives against selection criteria which may include which of following? benefits costs advantages
Financial outcomes are commonly measured and used in the balanced scorecard framework. Which of the following are considered financial outcomes/measures?
Which of the following are considered financial outcomes/measures? Revenue Return on Investment (ROI) Cashflow
Which of the following would be a good question to ask to determine why a warehouse was not able to maintain an appropriate amount of inventory? More than one answer may be selected.
Why are inventory levels lower than desired? Why are orders higher than anticipated?
Recall factors that contribute to the quality of information. More than one answer may be correct.
accuracy relevance timeliness
The belief outcome ___ (BAO) framework is a method for structuring research questions that are interconnected with information systems within an organization. These questions often surround sustainability and online sustainability reports.
action
IBM estimates the U.S. economy loses over $3.1 trillion per year as a result of
bad data.
Of the decisions/activities listed, which would be considered unstructured decisions?
capital budgeting decisions strategic goal development
Once a problem has been investigated, analyzed, and determined, it is necessary to determine the best solution to overcome the problem. When investigating a solution, it is important to take into the account which of the following consideration?
consider all outcomes allocation of resources identify what you know and don't know
Today's Behavioral scientists have created behavioral models that identify actual management behaviors. Based on their observations, researchers offer a set of five management attributes. Which of the following are contemporary management behaviors?
currency of information oral communication diversity of contacts with the organization
The Data Management Body of Knowledge (DMBOK) defines the planning, implementation, and control of activities that apply quality management techniques to data as
data quality
An analysis tool that is similar to cost-benefit analysis, multiple-criteria ___ analysis is an analysis tool used for decision making. It is not constrained by quantitative or monetary means of comparison.
decision
Henry Mintzberg, a Canadian researcher on management and business, classifies management roles into three categories. Which of the following are the three categories identified by Mintzberg?
decisional roles informational roles interpersonal roles
Herbert Simon identified a four-stage process for decision making. The second step of the process is ___. This process includes the identification and exploration of the solutions to a problem. Managers often ask, "What are the possible solutions?"
design
Which of the following should be considered when evaluating alternatives?
disadvantages costs
A variety of Management Information Systems (MIS) and the reports they provide are used to assist in making structured decisions. Which of the following are common reports provided by MIS?
exception roles forecasting roles production roles
Because it can be completed without the use of statistical analysis software, the ___ Whys is a popular method that is used to assess the underlying cause of a problem or to better understand the different causes of a problem.
five
Today's Behavioral scientists have created behavioral models that identify actual management behaviors. Based on their observations, researchers offer a set of five management attributes. Which of the following are contemporary management behaviors?
fragmented activities currency of information perform work at a fast pace
According to Mintzberg, there are three categories of management roles. One of these categories is ___ roles where managers represent their business to stakeholders outside the organization and perform a number of figurative responsibilities such as communicating with the public and recognizing employee performance.
interpersonal
Which of the measurable outcomes of the balanced scorecard framework focuses on organizational culture?
learning and growth
A number of researchers in psychology and economics uncovered the fact that managers, for the most part, are not very good at assessing risk and most are risk-averse. They do not like to make decisions that could be interpreted as "risky." Additionally, most managers make decisions based on intuition, perception, and feelings about the issue. As a result, risk ___ systems are often developed to mitigate the human impact on decision making.
management
Today's Behavioral scientists have created behavioral models that identify actual management behaviors. Based on their observations, researchers offer a set of five management attributes. Which of the following are contemporary management behaviors?
oral communication diversity of contacts with the organization currency of information
Of the decisions/activities listed, which would be considered structured decisions?
payroll and overtime inventory decisions
Quantifiable values that validate how effectively an organization is accomplishing significant business objectives are called key ___ indicators (KPIs). For example, a KPI for an e-commerce business might measure how well they meeting customer expectations. A KPI can be established that tracks the frequency that the customers are receiving the exact products they ordered.
performance
Quantifiable values that validate how effectively an organization is accomplishing significant business objectives are called key
performance indicators (KPIs)
The classical model of management describes what managers do. Classical management theorist Henry Fayol identified the five classical functions of managers which includes:
planning coordinating organizing
What are the five classical functions of managers as identified by management theorist Henri Fayol?
planning, organizing, coordinating, deciding, controlling
First developed by Thomas Saaty, the analytical hierarchy ___ (AHP) is a multi-criteria programming model that uses an analytical hierarchy process for decision making in multifaceted operational environments.
process
The analytical hierarchy process (AHP) is a multi-criteria programming model that uses an analytical hierarchy process for decision making in multifaceted operational environments. Data included in an AHP model includes which of the following?
qualitative data observational data data from enterprise systems
A main component of the belief outcome action framework (BAO) is the creation of a sustainability ___. These tools are provided by organizations and cover the economic, environmental, and social impact that results from day-to-day operating activities.
report
Decision making involves the examination of well-defined ___ alternatives designed to overcome a problem.
solution
The response to an identified problem, a ___ is the method to overcome a problem.
solution
Management decisions that involved tasks and choices that encompass prescribed and definite procedures for how they should be handled are referred to as ___ decisions.
structured
Recall learning and growth outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct.
training employee retention compensation
Management decisions that are often executed by higher-level management and include strategic decisions such as market entry or exit and capital budgeting are called ___ decisions.
unstructured
Decision making that is executed by computers through algorithms and software that can process data at a face pace is referred to as high-___ decision making. Software designed for this type of decision making is created by humans and is designed to identify issues, find solutions to these issues, and implement the programs needed to overcome these issues with an emphasis on transactional speed.
velocity
Software that is created by humans and is designed to identify issues, find solutions to these issues, and implement the programs needed to overcome these issues with an emphasis on transactional speed is referred to as high- _____ decision-making software.
velocity
