Adaptive Learning Assignment - Decision Making

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.

5

This refers to how well-collected data describes and associates with the real-world conditions it is trying to describe.

Accuracy

Refers to how the psychic states translate into action by the organization.

Action formation

Includes information on the way various psychic states including beliefs, desires, and opportunities about the operating environment are formed.

Belief formation

When managers choose between alternatives, they often compare alternatives against selection criteria which may include which of following? Benefits Costs Opinions Advantages

Benefits Costs Advantages

The scores for each criterion are multiplied (with their weight) and the scores for each criterion are then added together.

Calculate the values

Data is well-structured and includes all elements that were intended to be collected.

Completeness

Ensuring that the information being used to make informed business decisions is accurate and of high quality is critical in today's business environment. Which of the following are common characteristics of information quality? Completeness Validity Consistency Structure

Completeness Validity Consistency

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? Making personnel decisions Consider all outcomes. Identify what you know and don't know. Allocation of resources

Consider all outcomes. Identify what you know and don't know. Allocation of resources

The classical model of management describes what managers do. Classical management theorist Henry Fayol identified the five classical functions of managers which includes: Computing Coordinating Planning Organizing

Coordinating Planning Organizing

The focus is on who is purchasing products or services. Measurable outcomes include customer satisfaction and retention, product/service delivery, and product/service performance.

Customers

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

Put the steps used for multiple-criteria decision analysis (MCDA) in the correct order. Calculate the values Identify available options Identify and select objectives and criteria Describe the context Measure each criterion

Describe the context Identify available options Identify and select objectives and criteria Measure each criterion Calculate the values

Which of the following should be considered when evaluating alternatives? Disadvantages Costs Similarity Variability

Disadvantages Costs

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? Diversity of contacts with the organization Currency of information Oral communication Perform work at a slow methodical pace

Diversity of contacts with the organization Currency of information Oral communication

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

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 reports Production reports Forecasting reports Network reports

Exception reports Production reports Forecasting reports

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. Filters eliminate any decision making based on intuition. Filters are often predefined by the organization and are designed to eliminate the time-consuming task of searching through large volumes of data. Management filters are provided by many project management software applications.

Filters allow managers the ability to search the specific type of data that is needed for a specific decision. Filters are often predefined by the organization and are designed to eliminate the time-consuming task of searching through large volumes of data. Management filters are provided by many project management software applications.

There are a number of financial outcomes that are measured. These outcomes include revenue, expenses, return on investment (ROI), net income, cash flow, and return on equity.

Financial

Provide information about future expectations and whether current conditions will meet, exceed, or fail to meet these expectations.

Forecasting reports

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

Compare different options in order to determine which are best candidates for measure.

Identify available options

Put the steps of 5 Whys analysis in the correct order starting with the first step. Ask why the problem happened. Consult with members of the organization. Continue to ask why. Identify the current problem.

Identify the current problem. Ask why the problem happened. Continue to ask why. Consult with members of the organization.

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?"

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? Informational roles Interpersonal roles Decisional roles Structural roles

Informational roles Interpersonal roles Decisional roles

These outcomes measure how efficiently a business is operating. It also measures if customer's needs and wants are being met.

Internal Business Processes

This investigates the culture of the organization. Measurable outcomes include employee training, retention, satisfaction, gender and ethnic ratios, and compensation.

Learning and Growth

Determine the weight or level of importance of each criterion.

Measure each criterion

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? Data from human resource systems Observational data Data from enterprise systems Qualitative data

Observational data Data from enterprise systems Qualitative data

Explains the methods used to measure and monitor the belief and action steps of the BAO framework.

Outcome terminology

Of the decisions/activities listed, which would be considered structured decisions? Development of a marketing plan Payroll and overtime decisions Inventory decisions Market entry decisions

Payroll and overtime decisions Inventory decisions

Track current and predicted future levels of production and whether production goals will be met.

Production reports

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

Which of the following are considered financial outcomes/measures? Cashflow Revenue Quality Control Return on Investment

Revenue Return on Investment (ROI) Cashflow

Select the true statements about structured management decisions. Structured decisions involve tasks and choices that are routine. Structured decisions are regularly made by individual employees and teams and frequently include operational decisions. Structured decisions involve complex tasks that require each decision to be treated as a new task. Structured decisions are made easier through the creation of defined processes and procedures.

Structured decisions involve tasks and choices that are routine. Structured decisions are regularly made by individual employees and teams and frequently include operational decisions. Structured decisions are made easier through the creation of defined processes and procedures.

Select the true statements about the balanced scorecard method for decision making. The balanced scorecard includes information pertaining to an organization's identified key plausibility indicators (KPIs). 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).

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).

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. In order to get the information they need to create a balanced scorecard, managers rely on output provided from executive support systems (ESS). Measurable outcomes on a balanced scorecard include financial, internal business processes, learning and growth, and customers.

Design

This process includes the identification and exploration of the solutions to a problem. Managers often ask, "What are the possible solutions?"

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.

Implementation

This stage involves choosing a solution from all identified alternatives, executing the solution, and monitoring the solution to ensure it is working.

Select the true statements about unstructured management decisions. Structured decisions involve tasks and choices that are routine. Unstructured decisions involve management insight and judgment. Structured decisions are regularly made by individual employees and teams and frequently include operational 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. 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.

Data collection methodologies and techniques should be valid. Data should be in the correct format and collected using legitimate techniques.

Validity

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

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

Management _____ give managers the ability to search data sets for information that is needed for a specific decision. Members of the organization predefine the filters and design them to eliminate the time-consuming task of searching through large volumes of data and helps to avoid management bias and predefined subjective interpretation.

filters

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

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

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

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

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

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

unstructured decisions

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