MGMT303 - WEEK 3, SmartBook: Chapter 7
Which one of the following best describes the decisions made by a person with an analytical style?
Carefully considers lots information and alternatives
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/ultimately effective/feasible
Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making? (Choose every correct answer.)
Is it ultimately effective? Is it feasible? Is it ethical?
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.
Which of the following is an accurate description of decision making?
The process of identifying and choosing alternative courses of action
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
True or false: A decision tree is an analytical tool that can help managers to understand the possible consequences of their decisions and to create a plan to reach a goal.
True
True or false: CEOs are at a higher risk of being fired for ethical violations than ever before because the public has become less forgiving of unethical behavior.
True
True or false: The availability bias means that your manager may give more weight to your most recent work rather than everything you have done over the course of year.
True
An AI application that learns from human inputs in order to assist humans in making better decisions is known as _________________ intelligence.
augmented
An AI application that learns from human inputs in order to assist humans in making better decisions is known as
augmented intelegence
Conducting a(n) _____ involves analyzing the underlying causes of a problem or opportunity. predictive model diagnosis value orientation benchmark
diagnosis
Conducting a(n) ______ involves analyzing the underlying causes of a problem or an opportunity.
diagnosis
Ronnie's company uses large numbers of snow blowers. After several failed, Ronnie determined that the failures were due to defective motors and decided that the company would use a different vendor for future purchases. In this situation, Ronnie is making a(n) _____.
diagnosis
Minority _____ occurs when a minority in a group publicly opposes the beliefs, attitudes, ideas, procedures or policies assumed by the majority of the group.
dissent
Minority ______ occurs when a minority in a group publicly opposes the beliefs, attitudes, ideas, procedures, or policies assumed by the majority of the group.
dissent
The rise of artificial intelligence in the 21st century is expected to ______ the need for human decision makers.
enhance
The rise of artificial intelligence in the 21st century is expected to ______ the need for human decision makers. eliminate enhance reduce relocate
enhance
"Throwing good money after bad" characterizes the _____ bias.
escalation of commitment
"Throwing good money after bad" characterizes the _____ bias. confirmation anchoring and adjustment framing escalation of commitment
escalation of commitment
"Throwing good money after bad" characterizes the ______ bias.
escalation of commitment
Ramona is bidding on an auction item against several other people. She knows the bid is already too high, but she doesn't want to give up, so she continues bidding. This is an example of the _____ bias.
escalation of commitment
Ramona is bidding on an auction item against several other people. She knows the bid is already too high, but she doesn't want to give up, so she continues bidding. This is an example of the ______ bias.
escalation of commitment
When decision makers increase their commitment to a project despite negative information about it, they are experiencing which type of bias?
escalation of commitment
When using the ethical decision tree, management should consider whether a proposed action is both legal and _____.
ethical
The _______ bias reflects our tendency to generalize from a small sample or single event.
representativeness
A manager that hires all applicants that have graduated from a certain college because a particularly good employee came from that same college is an example of _____.
representativeness bias
Which of these is another term for hindsight bias?
The "I-knew-it-all-along" effect
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
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.
Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making.
1. Is it ethical? 2. Is it feasible? 3. It is ultimately effective?
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
Which of these assumptions are made in the rational model of decision making?
1.Managers will always select the course of action that they know will most benefit the organization. 2.Managers are able to make logical decisions without prejudice or emotional blind spots. 3.Managers have complete, error-free information about alternative courses of action and their consequences.
Which of the following are disadvantages associated with group-aided decision making? (Choose every correct answer.)
A few people may influence or intimidate the rest of the group. The group may fall into groupthink. Group members may engage in satisficing to avoid prolonged debate.
For who of the following would Big Data analytics be the most useful?
A market researcher who is studying consumer behavior
For who of the following would Big Data analytics be the most useful? A professor who is preparing the syllabus to an introductory-level physics course A physician performing a routine physical A market researcher who is studying consumer behavior An author who is writing an autobiography
A market researcher who is studying consumer behavior
What are symptoms of groupthink? (Choose every correct answer.)
A sense of invulnerability An illusion of unanimity Rationalization
In order to prevent groupthink, it is important to do which of the following?
Allow criticism
Which two of these options are important in combating groupthink? (Choose every correct answer.)
Allowing criticism Allowing other perspectives
An individual with a high tolerance for ambiguity would most likely be attracted to which style of decision making?
Analytical
An individual with a high tolerance for ambiguity would most likely be attracted to which style of decision making? Concrete Directive Behavioral Analytical
Analytical
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
All the following are characteristics of group decision-making EXCEPT _____.
groups make decisions quickly
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 Conceptual Directive Behavioral
Analytical
According to psychologist Daniel Kahneman, which of the following characteristics describe System 2 thinking?
Analytical, Deliberate and Conscious
What type of bias refers to the tendency to make decisions based on an initial figure that may or may not be in line with market realities?
Anchoring and adjustment
What type of bias refers to the tendency to make decisions based on an initial figure that may or may not be in line with market realities? Representativeness Sunk-cost Availability Anchoring and adjustment
Anchoring and adjustment
What is the fundamental concern shared among all critics of artificial intelligence?
Artificial intelligence has the capacity to become smarter than humans, threatening their very existence.
What is the fundamental concern shared among all critics of artificial intelligence?
Artificial intelligence has the capacity to exceed human capabilities, leaving us under its control.
What is the fundamental concern shared among all critics of artificial intelligence? Artificial intelligence will amplify the negative effects of climate change. Artificial intelligence has the capacity to exceed human capabilities, leaving us under its control. Artificial intelligence will make us less likely to interact with each other on a personal level. Artificial intelligence threatens to eliminate the incentive for humans to work hard.
Artificial intelligence has the capacity to exceed human capabilities, leaving us under its control.
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
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 Applied intelligence Augmented intelligence Autonomous intelligence
Assisted intelligence
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? Augmented intelligence Assisted intelligence Autonomous intelligence Applied intelligence
Assisted intelligence
What is the most common type of AI used today?
Automated business processes
When one of Serena's employees raises the concern that some of the bakery's products may have been contaminated during a cleaning product spill, Serena is overcome with a feeling of worry that customers could become ill if they consume her pastries. Based on these feelings, Serena makes a snap decision to close the store for several hours to allow time for baking a new batch of pastries. Which type of intuition does this represent?
Automated experience
When one of Serena's employees raises the concern that some of the bakery's products may have been contaminated during a cleaning product spill, Serena is overcome with a feeling of worry that customers could become ill if they consume her pastries. Based on these feelings, Serena makes a snap decision to close the store for several hours to allow time for baking a new batch of pastries. Which type of intuition does this represent? Holistic hunch Automated experience Satisficing Logical conclusion
Automated experience
Which of the following business needs are typically supported by artificial intelligence? (Choose every correct answer.)
Automating business processes Analyzing data Engaging customers and employees
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
Which decision-making style is the most people oriented of the four styles?
Behavioral
Which decision-making style is the most people-oriented of the four styles?
Behavioral
What are the four general styles of decision making associated with a person's value orientation and tolerance for ambiguity? (Choose every correct answer.)
Behavioral Conceptual Directive Analytical
What are the four general styles of decision making associated with a person's value orientation and tolerance for ambiguity? Formative Collaborative Behavioral Conceptual Directive Analytical
Behavioral Conceptual Directive Analytical
Andi has recently joined her company's new product development team. She has a number of innovative ideas, but because the group is so unified in its support for more traditional ideas, Andi decides to keep her ideas to herself and go along the group. Which symptom of groupthink does this situation illustrate?
Belief in "the wisdom of crowds"
Andi has recently joined her company's new product development team. She has a number of innovative ideas, but because the group is so unified in its support for more traditional ideas, Andi decides to keep her ideas to herself and go along with the group. Which symptom of groupthink does this situation illustrate?
Belief in "the wisdom of crowds"
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
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 ______. data mining cloud computing Big Data proscriptive analytics
Big Data
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 data mining proscriptive analytics cloud computing
Big Data
In order to optimize the newest promotion for a Hollywood movie company, Carli analyzes large amounts of data from social media, industry forecasts, and customer records to find buying patterns within her customer base. What is Carli using to make her decision?
Big Data analytics
The process of examining large amounts of data in a variety of types to uncover hidden patterns, unknown correlations, and other useful information is known as _____.
Big Data analytics
The process of examining large amounts of data in a variety of types to uncover hidden patterns, unknown correlations, and other useful information is known as _____. database normalization Big Data analytics cloud computing proscriptive modeling
Big Data analytics
What is the name of a technique used to help groups generate multiple ideas for solving problems in which potential ideas or solutions are collected (sometimes anonymously) and written on a board or flip chart?
Brainstorming
Artificial intelligence aids human decision making by exhibiting superior performance in which of the following activities?
Building and analyzing models and simulations to make predictions
Artificial intelligence aids human decision making by exhibiting superior performance in which of the following activities? Interpreting human emotions to identify the mind-set of key stakeholders Initiating and facilitating relationships between key human stakeholders Composing simple yet powerful written explanations of complex ideas Building and analyzing models and simulations to make predictions
Building and analyzing models and simulations to make predictions
In what way is artificial intelligence expected to help businesses with enhanced decision making?
By impacting the precision, speed, and credibility of decisions related to products and operations
In what way is artificial intelligence expected to make business and personal data safer?
By monitoring and deflecting the activities of hackers
In what way is artificial intelligence expected to make business and personal data safer? By monitoring and deflecting the activities of hackers By giving every human a secret identification number that will replace social security and bank account numbers By eliminating the need for online transactions By translating all information shared online into a language that is impossible for humans to interpret
By monitoring and deflecting the activities of hackers
During meetings, Stacy likes to challenge new ideas, even those that she agrees with, in order to make sure that her team has considered every angle. What role is Stacy playing?
Devil's advocate
Successful implementation of major decisions requires which of the following? (Choose every correct answer.)
Careful planning Sensitivity to those affected by the decision
Successful implementation of major decisions requires which of the following?
Careful planning Sensitivity to those affected by the decision
Successful implementation of major decisions requires which of the following? Careful planning Ignoring ethical dilemmas Reliance on the easy way out of the problem Sensitivity to those affected by the decision
Careful planning Sensitivity to those affected by the decision
Successful implementation of major decisions requires which of the following?
Careful planning and Sensitivity to those affected by the decision
Which one of the following best describes the decisions made by a person with an analytical style? Frequently rely on intuition and good at finding creative solutions Autocratic, action oriented, and decisive Carefully considers lots information and alternatives Supportive of others and receptive to suggestions
Carefully considers lots information and alternatives
Which one of the following best describes the decisions made by a person with an analytical style? Frequently rely on intuition and good at finding creative solutions Supportive of others and receptive to suggestions Carefully considers lots information and alternatives Autocratic, action oriented, and decisive
Carefully considers lots information and alternatives
Which type of bias is described by the tendency of decision makers to classify people or information based on observed or inferred characteristics?
Categorical thinking
Sam follows Fox News Channel on Facebook so she can occasionally see news from a viewpoint that contrasts with the posts on her regular Newsfeed. As a result, Facebook mislabels Sam as "conservative." What is this an example of?
Categorical thinking bias
What are appropriate actions for a manager to take if a decision is not working as intended? Change it slightly. Give it more time. Deny there is anything wrong. Start over. Blame others. Try another alternative.
Change it slightly. Give it more time. Start over. Try another alternative.
Artificial intelligence lacks which key feature of human intelligence?
Common sense
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 decision-making style is characterized by a high tolerance for ambiguity and the consideration of many options together with a willingness to take risks? Directive Conceptual Analytical Behavioral
Conceptual
What are the four general styles of decision making associated with a person's value orientation and tolerance for ambiguity?
Conceptual, Analytical, Behavioral and Directive
Which steps are recommended for establishing a process or method for making decisions?
Conduct a cost-benefit analysis. Consider whether the decision is consistent with your values. Analyze the situation.
Tyler has never gotten along with his employee Marcus. Although Marcus has been a top performer during his three years with the company, Tyler tends to fixate on the one quarter when Marcus performed poorly. Tyler uses that quarter as an example of Marcus being a "poor fit" with the company. What type of bias is this an example of?
Confirmation
According to psychologist Daniel Kahneman, which of the following characteristics describe System 2 thinking? Unconscious Deliberate Intuitive Conscious Analytical
Conscious Analytical Deliberate
Which steps are recommended for establishing a process or method for making decisions?
Consider whether the decision is consistent with your values., Analyze the situation. and Conduct a cost-benefit analysis.
Which of the following career-readiness competencies relate to evidence-based decision making? (Choose every correct answer.)
Critical thinking and problem solving Information technology application Computational thinking
What is the main difference between critical thinking and the moment-to-moment thinking that we use in our everyday lives?
Critical thinking requires deliberate mental processes, whereas moment-to-moment thinking is automatic and prone to bias.
What is the main difference between critical thinking and the moment-to-moment thinking that we use in our everyday lives? Critical thinking relies on emotion and instinct, whereas moment-to-moment thinking requires logic and reason. Critical thinking is used for reflecting on past events, whereas moment-to-moment thinking focuses on planning for the future. Critical thinking requires deliberate mental processes, whereas moment-to-moment thinking is automatic and prone to bias. Critical thinking involves negative thoughts, whereas moment-to-moment thinking focuses on positivity and being present.
Critical thinking requires deliberate mental processes, whereas moment-to-moment thinking is automatic and prone to bias.
Which of the following is the newest and least common type of AI used for business needs?
Customer and employee engagement
Which of the following are examples of Big Data?
Data in corporate databases Surveillance data Web-browsing data trails Social network communications
Which of the following are the top challenges associated with AI? (Choose every correct answer.)
Data issues Implementation Cost
A _____ is a choice made from available alternatives. decision rationale consensus feasibility
Decision
According to psychologist Daniel Kahneman, which of the following characteristics describe System 2 thinking?
Deliberate Analytical Conscious
According to psychologist Daniel Kahneman, which of the following characteristics describe System 2 thinking?
Deliberate Conscious Analytical
The managers of Coastal Imports are having a meeting to decide whether the company should raise prices on its best-selling products. During the meeting, the team engages in a debate in which one side argues that the company should lower its prices while the other side argues in favor of raising them. Which problem-solving technique is the group using?
Dialectic method
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
Digital communications are more susceptible to hackers and whistleblowers. Globalization allows businesses to operate in regions where ethical risks are greater. The 24/7 news cycle places more scrutiny on unethical behavior.
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
As businesses continue to incorporate artificial intelligence into the decision-making process, what will become even more important for humans to do?
Display good judgment
As businesses continue to incorporate artificial intelligence into the decision-making process, what will become even more important for humans to do? Display good judgment Collect and compile data from fewer sources Generate alternative simulations of past behavior Monitor statistics manually for hidden patterns
Display good judgment
Consulting firm Accenture predicts that by 2035 artificial intelligence will have which economic effect?
Economic growth will double.
Consulting firm Accenture predicts that by 2035 artificial intelligence will have which economic effect? Economic growth will double. Economic growth will stay roughly the same. Economic growth will fall by half. Economic growth will increase by 2 or 3 percent.
Economic growth will double.
Consulting firm Accenture predicts that by 2035 artificial intelligence will have which economic effect? Economic growth will fall by half. Economic growth will stay roughly the same. Economic growth will double. Economic growth will increase by 2 or 3 percent.
Economic growth will double.
Which of the following are ways in which artificial intelligence is expected to improve the interactions between businesses and employees or consumers? Eliminating human bias from human resources decisions Reducing work demands and freeing up more time for family or leisure Tailoring products to the personal needs and preferences of individual consumers Eliminating the hierarchy of authority in favor of a "flat" organizational structure
Eliminating human bias from human resources decisions Reducing work demands and freeing up more time for family or leisure Tailoring products to the personal needs and preferences of individual consumers
Which of the following are ways in which artificial intelligence is expected to improve the interactions between businesses and employees or consumers?
Eliminating human bias from human resources decisions, Reducing work demands and freeing up more time for family or leisure and Tailoring products to the personal needs and preferences of individual consumers
What is the most valuable competitive resource for a manager who needs alternative solutions to a problem?
Employees with ideas
What is the most valuable competitive resource for a manager who needs alternative solutions to a problem? Facilities with open space Money from investors Customers of competitors Employees with ideas
Employees with ideas
What is the third stage of the rational model of decision making? Develop alternative solutions. Evaluate alternatives and select a solution. Implement and evaluate the chosen solution. Identify the problem or opportunity.
Evaluate alternatives and select a solution
What is the third stage of the rational model of decision making?
Evaluate alternatives and select a solution.
What is the third stage of the rational model of decision making? Identify the problem or opportunity. Implement and evaluate the chosen solution. Develop alternative solutions. Evaluate alternatives and select a solution.
Evaluate alternatives and select a solution.
What are common results of groupthink? (Multiple) Failure to consider new information Ideas that are too ambitious or unorthodox Loss of new ideas Infighting and conflict
Failure to consider new information Loss of new ideas
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
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. True False
False
True or false: Predictive analytics is a groupthink technique.
False
True or false: Soft skills do not have a role in evidence-based decision making.
False
True or false: Value orientation reflects the extent to which a person is unethical.
False
People with a conceptual decision-making style are likely to do which of the following?
Find creative solutions Rely on intuition Take risks
Which of the following are potential threats associated with artificial intelligence?
Generating false but convincing images and sounds, Expanding surveillance in authoritarian ways and Producing automated weapons that could end up in the wrong hands
In the fourth stage of rational decision making, managers will _____.
implement and evaluate the chosen solution
During which of the following is positive team spirit and striving for unanimity most likely to lead to poor decision making?
Groupthink
During which of the following is positive team spirit and striving for unanimity most likely to lead to poor decision making? Goal displacement Groupthink Satisficing Brainstorming
Groupthink
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
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
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 Goal displacement Burnout Overconfidence
Groupthink
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? Burnout Overconfidence Goal displacement Groupthink
Groupthink
Which strategies are recommended for conducting a successful project post-mortem? (Choose every correct answer.)
Have an agenda. Encourage honest feedback from all participants. Prepare and circulate a written report at the end of the meeting.
Which strategies are recommended for conducting a successful project post-mortem?
Have an agenda., Encourage honest feedback from all participants. and Prepare and circulate a written report at the end of the meeting.
______ are strategies such as "rules of thumb" that simplify decision making.
Heuristics
______ are strategies such as "rules of thumb" that simplify decision making. Biases Heuristics Rationalizations Data mining practices
Heuristics
______ are strategies such as "rules of thumb" that simplify decision making. Biases Rationalizations Data mining practices Heuristics
Heuristics
______ are strategies such as "rules of thumb" that simplify decision making. Rationalizations Biases Data mining practices Heuristics
Heuristics
In general, managers are most likely to tolerate unethical behavior among which of the following groups of employees?
High-performing salespeople
Select the reasons it can be difficult to make evidence based decisions. (Choose every correct answer.)
People are trying to mislead you. There is too much evidence. There is not enough good evidence.
In general, managers are most likely to tolerate unethical behavior among which of the following groups of employees? Young and inexperienced marketing interns High-performing salespeople Poor-performing production assistants Entry-level analysts
High-performing salespeople
What is the name for an intuitive decision based on a person's years of experience with similar situations?
Holistic hunch
What is the name for an intuitive decision based on a person's years of experience with similar situations? Holistic hunch Logical conclusion Automated experience Rational analysis
Holistic hunch
What is the best way to develop a ready-made solution?
Identify best practices and turn them into standard operating procedure.
What is the best way to develop a ready-made solution? Borrow the approaches that worked best for other individuals or organizations whom you admire. Identify best practices and turn them into standard operating procedure. Conduct a survey of preferred approaches to a problem and implement the most common responses. Conduct a cost-benefit analysis and pursue the cheapest options.
Identify best practices and turn them into standard operating procedure.
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.
Identify the problem or opportunity., Think of alternative solutions., Evaluate alternatives and select a solution., and Implement and evaluate the solution chosen.
Which of these are part of the seven implementation principles of evidence-based decision making? If all else fails, slow the spread of bad practice. Treat your organization as an unfinished prototype. Like everything else, you still have to sell it. Don't worry about what outsiders think.
If all else fails, slow the spread of bad practice. Treat your organization as an unfinished prototype. Like everything else, you still have to sell it.
Which application of big data is typically used by employees at the top managerial level of an organization?
Influencing others to support data-driven decisions
Which of the following is an advantage of group decision making?
Intellectual stimulation
Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making. Is it creative? Is it ultimately effective? Is it feasible? Is it profitable? Is it ethical?
Is it ultimately effective? Is it feasible? Is it ethical?
Which of the following questions would you use to evaluate alternatives in the third stage of the rational model of decision making.
Is it ultimately effective?, Is it feasible?, and Is it ethical?
Which of the following questions is NOT one of the questions used in Bagley's ethical decision tree?
Is the proposed action a benefit to our competitors?
Which of the following questions is NOT one of the questions used in Bagley's ethical decision tree? Does the proposed action maximize shareholder value? Is the proposed action ethical? Would it be ethical not to take the proposed action? Is the proposed action legal? Is the proposed action a benefit to our competitors?
Is the proposed action a benefit to our competitors?
Which of these describe how knowledge of decision-making styles affects managers' work? (Choose every correct answer.)
It allows managers to better identify personal strengths and weaknesses. It gives managers an understanding of how different people reach different conclusions.
Which of these describe how knowledge of decision-making styles affects managers' work?
It allows managers to better identify personal strengths and weaknesses. and It gives managers an understanding of how different people reach different conclusions.
Identify the drawbacks to using intuition in the decision-making process. Check all that apply. It is ineffectual when decision making deadlines are tight. It can be difficult to convince others about the validity of your hunch. It generally takes longer than rational decision-making. It is subject to the same decision-making biases as rational decision making.
It can be difficult to convince others about the validity of your hunch. It is subject to the same decision-making biases as rational decision making.
Identify the benefits of using intuition in the decision-making process. Check all that apply. It can speed up decision making. It is always more reliable than rational decision making. It is not subject to the biases that affect rational decision making. It can be helpful to managers when resources are limited.
It can be helpful to managers when resources are limited. It can speed up decision making.
Which of these describe how knowledge of decision-making styles affects managers' work?
It gives managers an understanding of how different people reach different conclusions. It allows managers to better identify personal strengths and weaknesses.
Which of these describe how knowledge of decision-making styles affects managers' work? It reduces managers' ability to predict future challenges. It allows managers to better identify personal strengths and weaknesses. It enables managers to more accurately blame others for problems. It gives managers an understanding of how different people reach different conclusions.
It gives managers an understanding of how different people reach different conclusions. It allows managers to better identify personal strengths and weaknesses.
Knowledge of decision-making styles can assist managers in many ways except for which one of the following? It increases their ability to influence others by catering to their style. It increases the biases of the manager toward their favorite style. It facilitates the potential for self-improvement in making decisions It helps to identify a manager's own strengths and weaknesses in making decisions.
It increases the biases of the manager toward their favorite style.
Identify the drawbacks to using intuition in the decision-making process. Check all that apply.
It is subject to the same decision-making biases as rational decision making. and It can be difficult to convince others about the validity of your hunch.
Choose a key benefit of using intuition in decision making.
It speeds up the process when deadlines are tight.
Choose a key benefit of using intuition in decision making. It speeds up the process when deadlines are tight. It is a well thought out process that rationally considers all options. It makes it easier to convince others that the decision makes sense. It slows the process and allows for all opinions to be considered.
It speeds up the process when deadlines are tight.
By 2035, artificial intelligence is expected to have what effect on labor productivity?
It will increase labor productivity by as much as 40%.
Which examples illustrate prosocial lying? Martin inflates the sales figures on a quarterly report to make his boss look better. Irma claims some of her personal expenditures as business expenses. Jody approves a loan for a couple even though they are unlikely to be able to afford their payments. Devin accuses a coworker of leaking top-secret information to competitors without evidence.
Jody approves a loan for a couple even though they are unlikely to be able to afford their payments. Martin inflates the sales figures on a quarterly report to make his boss look better.
As expertise grows, experts can be less able to see their products from an outsider's view and may make decisions that are no longer intuitive to users. This process has been called the curse of _____. design knowledge specialization degrees
Knowledge
Which of these characteristics are associated with someone with a high tolerance for ambiguity? Lacking a strong need for control Desiring a high degree of structure Thriving in uncertain situations Feeling stressed or anxious in strange situations
Lacking a strong need for control Thriving in uncertain situations
Which of these characteristics are associated with someone with a high tolerance for ambiguity?
Lacking a strong need for control and Thriving in uncertain situations
In a recent team meeting, Terry agreed to vote in favor of rearranging the office so long as his desk would be near a window. Which negative method of achieving consensus does this illustrate?
Log rolling
What are common results of groupthink? (Choose every correct answer.)
Loss of new ideas Failure to consider new information
What are common results of groupthink?
Loss of new ideas Failure to consider new information
What are common results of groupthink? Loss of new ideas Infighting and conflict Failure to consider new information Ideas that are too ambitious or unorthodox
Loss of new ideas Failure to consider new information
What are common results of groupthink?
Loss of new ideas and Failure to consider new information
Which techniques are effective ways to reduce the escalation of commitment?
Make decision makers aware of the costs of persistence., Set minimum performance targets and compare performance results. and Rotate managers in key positions during a project.
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 have complete, error-free information about alternative courses of action and their consequences. Managers will always select the course of action that they know will most benefit the organization.
Which of these assumptions are made in the rational model of decision making? (Choose every correct answer.)
Managers have complete, error-free information about alternative courses of action and their consequences. 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.
Which of these assumptions are made in the rational model of decision making?
Managers have complete, error-free information about alternative courses of action and their consequences., Managers will always select the course of action that they know will most benefit the organization., and Managers are able to make logical decisions without prejudice or emotional blind spots.
Which of these assumptions are made in the rational model of decision making? 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. Managers will be influenced by their own self-interest when choosing among alternative courses of action. Managers are able to make logical decisions without prejudice or emotional blind spots. Managers will not be limited by time or money constraints when implementing the chosen solution.
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. Managers are able to make logical decisions without prejudice or emotional blind spots.
Which examples illustrate prosocial lying? (Choose every correct answer.)
Martin inflates the sales figures on a quarterly report to make his boss look better. Jody approves a loan for a couple even though they are unlikely to be able to afford their payments.
Which examples illustrate prosocial lying?
Martin inflates the sales figures on a quarterly report to make his boss look better. and Jody approves a loan for a couple even though they are unlikely to be able to afford their payments.
One method of reducing the escalation of commitment is to measure performance against which metric?
Minimum performance targets
One method of reducing the escalation of commitment is to measure performance against which metric? Industry leader performance Next-closest-competitor performance Minimum performance targets Ideal performance targets
Minimum performance targets
Which models are characteristic nonrational models of decision making?
Models that describe how managers actually make decisions
Which models are characteristic nonrational models of decision making? Models that describe how managers should make decisions Models that train managers how to make ethical decisions Models that try to predict future behaviors and consequences Models that describe how managers actually make decisions
Models that describe how managers actually make decisions
In a study done at Babson College's Working Knowledge Research Center, researchers identified what three key attributes of organizations committed to quantitative, fact-based analysis?
Multiple applications, Use of modeling and Support from top management
What is the recommended step you should take after making a decision?
Observe the results then conduct a post-mortem.
A recent survey of U.S. companies showed that most companies use AI to do which of the following? (Choose every correct answer.)
Optimize internal processes Enhance current offerings Make more effective decisions
Which of the following career readiness competencies are typically exhibited by middle managers? (Choose every correct answer.)
Oral/written communication Understanding the business Decision making
Which of the following are examples of what can function as the first stage in rational decision making by managers? (Choose every correct answer.)
Poor product quality Sales shortfalls Customer complaints
Which of the following are examples of what can function as the first stage in rational decision making by managers? Low staff turnover Poor product quality Customer complaints Sales shortfalls
Poor product quality Customer complaints Sales shortfalls
Which of the following are examples of what can function as the first stage in rational decision making by managers?
Poor product quality Sales shortfalls Customer complaints
Which of these are examples of business analytics? (Choose every correct answer.)
Portfolio analysis Time-series forecast
Which of these are examples of business analytics?
Portfolio analysis Time-series forecast
Which of these are examples of business analytics?
Portfolio analysis and Time-series forecast
Which of these are examples of the "curse of knowledge"? Professional bankers taking excessive risks Engineers designing remotes with too many buttons Beverage producers simplifying the list of ingredients used in their products Musicians playing their most popular songs at concerts
Professional bankers taking excessive risks Engineers designing remotes with too many buttons
Which of these are examples of the "curse of knowledge"?
Professional bankers taking excessive risks and Engineers designing remotes with too many buttons
After a major product launch, managers at McLaughlin Industries meet to evaluate outcomes and how those outcomes differ from what the group expected. This approach is part of which group problem-solving technique?
Project post-mortem
Evidence-based management attempts to introduce which factor into the decision-making process?
Rationality
Evidence-based management attempts to introduce which factor into the decision-making process? Speed Idealism Rationality Self-interest
Rationality
Which of the following are ways in which artificial intelligence is expected to improve the interactions between businesses and employees or consumers? (Choose every correct answer.)
Reducing work demands and freeing up more time for family or leisure Tailoring products to the personal needs and preferences of individual consumers
People with a conceptual decision-making style are likely to do which of the following? Rely on intuition Find creative solutions Take risks Act autocratically Focus on the facts
Rely on intuition Find creative solutions Take risks
Which are examples of the application of Big Data analytics? Reviewing social media posts to predict the revenue a new movie will generate Reporting current weather conditions in major U.S. cities. Using information about current employees to sort through large volumes of job applications Studying nationwide medical information to inform health policy decisions
Reviewing social media posts to predict the revenue a new movie will generate Using information about current employees to sort through large volumes of job applications Studying nationwide medical information to inform health policy decisions
Which techniques are effective ways to reduce the escalation of commitment? (Choose every correct answer.)
Rotate managers in key positions during a project. Make decision makers aware of the costs of persistence. Set minimum performance targets and compare performance results.
Which of the following applications of big data are typically used by employees at the lower managerial level of an organization? (Choose every correct answer.)
Safeguarding data Analyzing data
Which of the following are examples of what can function as the first stage in rational decision making by managers?
Sales shortfalls Poor product quality Customer complaints
Which of the following are examples of what can function as the first stage in rational decision making by managers?
Sales shortfalls, Poor product quality, and Customer complaints
"Close enough is good enough" best characterizes which model of decision making?
Satisficing
"Close enough is good enough" best characterizes which model of decision making? Rational Intuition Satisficing Predictive
Satisficing
Which model of decision making emphasizes choosing the first solution that meets the criteria, rather than the optimal choice?
Satisficing
Which model of decision making emphasizes choosing the first solution that meets the criteria, rather than the optimal choice? Intuition Irrational Behavioral Satisficing
Satisficing
Successful implementation of major decisions requires which of the following?
Sensitivity to those affected by the decision Careful planning
Which techniques are effective ways to reduce the escalation of commitment? Set minimum performance targets and compare performance results. Encourage managers to become ego-involved with their projects. Make decision makers aware of the costs of persistence. Rotate managers in key positions during a project.
Set minimum performance targets and compare performance results. Make decision makers aware of the costs of persistence. Rotate managers in key positions during a project.
Which of the following are examples of Big Data? Social network communications Web-browsing data trails Unrecorded customer interactions Data in corporate databases Surveillance data
Social network communications Web-browsing data trails Data in corporate databases Surveillance data
What are appropriate actions for a manager to take if a decision is not working as intended? (Choose every correct answer.)
Start over. Give it more time. Try another alternative. Change it slightly.
Apex Enterprises spent a large amount of money to customize a pumping system it bought many years ago. A supplier is now offering a new pumping system that will save the company money in the long term. However, Apex decides to keep the older system because it has already spent so much money on the older system. What type of bias is this an example of?
Sunk-cost
Apex Enterprises spent a large amount of money to customize a pumping system it bought many years ago. A supplier is now offering a new pumping system that will save the company money in the long term. However, Apex decides to keep the older system because it has already spent so much money on the older system. What type of bias is this an example of? Sunk-cost Availability Representative Confirmation
Sunk-cost
Which of the following are examples of big data? (Choose every correct answer.)
Surveillance data Social network communications Web-browsing data trails Data in corporate databases
People with a conceptual decision-making style are likely to do which of the following? (Choose every correct answer.)
Take risks Find creative solutions Rely on intuition
People with a conceptual decision-making style are likely to do which of the following?
Take risks, Rely on intuition and Find creative solutions
Value orientation reflects the extent to which an individual focuses on which of the following dimensions?
Technical concerns or social concerns
Which of these is another term for hindsight bias? The "I-knew-it-all-along" effect The "Easy-come-easy-go" principle The "Any-time-any-day" principle The "I-never-would-have-guessed-that" effect
The "I-knew-it-all-along" effect
Which of these is another term for hindsight bias? The "I-knew-it-all-along" effect The "I-never-would-have-guessed-that" effect The "Easy-come-easy-go" principle The "Any-time-any-day" principle
The "I-knew-it-all-along" effect
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
The 24/7 news cycle places more scrutiny on unethical behavior. Digital communications are more susceptible to hackers and whistleblowers. Globalization allows businesses to operate in regions where ethical risks are greater.
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century? (Choose every correct answer.)
The 24/7 news cycle places more scrutiny on unethical behavior. Globalization allows businesses to operate in regions where ethical risks are greater. Digital communications are more susceptible to hackers and whistleblowers.
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century? It has become customary for business leaders to self-report unethical behavior. The 24/7 news cycle places more scrutiny on unethical behavior. Digital communications are more susceptible to hackers and whistleblowers. Globalization allows businesses to operate in regions where ethical risks are greater.
The 24/7 news cycle places more scrutiny on unethical behavior. Digital communications are more susceptible to hackers and whistleblowers. Globalization allows businesses to operate in regions where ethical risks are greater.
Which of these are reasons for the increase in ethical violations among business leaders in the 21st century?
The 24/7 news cycle places more scrutiny on unethical behavior., Globalization allows businesses to operate in regions where ethical risks are greater. and Digital communications are more susceptible to hackers and whistleblowers.
The managers of Coastal Imports are having a meeting to decide whether the company should raise prices on its best-selling products. During the meeting, the team engages in a debate in which one side argues that the company should lower its prices while the other side argues in favor of raising them. Which problem-solving technique is the group using?
The dialectic method
Which of the following are disadvantages associated with group-aided decision making?
The group may fall into groupthink., A few people may influence or intimidate the rest of the group. and Group members may engage in satisficing to avoid prolonged debate.
What are three characteristics that affect decision making by a group? (Choose every correct answer.)
The knowledge of group members The efficiency of the group The size of the group
Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to make optimal decisions?
The nonrational model
Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to make optimal decisions? The statistical model The nonrational model The rational model The brainstorming model
The nonrational model
Which of the following is an accurate description of decision making? The act of implementing a plan that has already been conceived The procedure of explaining a choice that has been made The process of analyzing the underlying causes of a situation The process of identifying and choosing alternative courses of action
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
Which model of decision making explains how managers should use logic to determine the optimal means of furthering the organization's best interests? The optimal model The limited model The analytical model The rational model
The rational model
According to Bagley, what should businesspeople use as a guide for making good ethical decisions?
Their own sense of right and wrong
Which of these are part of the seven implementation principles of evidence-based decision making?
Treat your organization as an unfinished prototype., Like everything else, you still have to sell it. and If all else fails, slow the spread of bad practice.
Select the reasons it can be difficult to make evidence based decisions. Objective data is often misleading. There is too much evidence. There is not enough good evidence. People are trying to mislead you. Clear statistics are readily available.
There is too much evidence. There is not enough good evidence. People are trying to mislead you.
Select the reasons it can be difficult to make evidence based decisions.
There is too much evidence., People are trying to mislead you. and There is not enough good evidence.
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.
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? Implement the solution. Evaluate alternatives. Identify the problem. Think up alternative solutions.
Think up alternative solutions.
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 characteristics are associated with someone with a high tolerance for ambiguity? (Choose every correct answer.)
Thriving in uncertain situations Lacking a strong need for control
Which of these are examples of business analytics?
Time-series forecast Portfolio analysis
Which of these are examples of business analytics? Advertising campaigns Time-series forecast Marketing plans Portfolio analysis Groupthink
Time-series forecast Portfolio analysis
In which of the following ways are companies using AI to help with customer and employee engagement? (Choose every correct answer.)
To assist with password reset requests To answer technical support questions To address product and service issues
What is the goal of conducting a project post-mortem?
To determine what could be done better and incorporate those insights into future decisions
Which of the following is a primary use of AI among U.S. companies?
To gain competitive advantage
Which personality dimension indicates the extent to which a person has a high need for structure or control in his or her life?
Tolerance for ambiguity
Which personality dimension indicates the extent to which a person has a high need for structure or control in his or her life? Bounded rationality Ethical foundation Tolerance for ambiguity Value orientation
Tolerance for ambiguity
Decision-making styles vary along which two dimensions? (Choose every correct answer.)
Tolerance for ambiguity Value orientation
Decision-making styles vary along which two dimensions?
Tolerance for ambiguity Value orientation
Decision-making styles vary along which two dimensions? Risk multiplication Tolerance for ambiguity Value orientation Defensive avoidance
Tolerance for ambiguity Value orientation
Decision-making styles vary along which two dimensions?
Tolerance for ambiguity and Value orientation
Which of these are part of the seven implementation principles of evidence-based decision making? (Choose every correct answer.)
Treat your organization as an unfinished prototype. Like everything else, you still have to sell it. If all else fails, slow the spread of bad practice.
An AI application that learns from human inputs in order to assist humans in making better decisions is known as _____ intelligence.
augmented
True or false: The increased focus on business ethics that followed the business scandals of the early 2000s, including the Enron collapse and civilian contractor abuses in Iraq, also lead to the growing use of ethics officers.
True
What are appropriate actions for a manager to take if a decision is not working as intended?
Try another alternative., Start over., Change it slightly. and Give it more time.
In the devil's advocacy technique, the group assigns one person to do which of the following?
Uncover all possible objections to a plan or an idea.
In the devil's advocacy technique, the group assigns one person to do which of the following?
Uncover all possible objections to a plan or idea.
The results of rational decision making should be evaluated because things may occur that were not foreseen, a "law" in economics known as the Law of _____ Consequences.
Unintended
The results of rational decision making should be evaluated because things may occur that were not foreseen, a "law" in economics known as the Law of _____ Consequences. Unavailable Intentional Unintended Available
Unintended
The results of rational decision making should be evaluated because things may occur that were not foreseen, a "law" in economics known as the Law of ______ Consequences.
Unintended
What strategies are effective for achieving consensus in a group? (Choose every correct answer.)
Use active listening. Involve as many group members as possible.
What strategies are effective for achieving consensus in a group?
Use active listening. and Involve as many group members as possible.
In a study done at Babson College's Working Knowledge Research Center, researchers identified what three key attributes of organizations committed to quantitative, fact-based analysis? Use of modeling Support from top management Multiple applications Employee agreement Domination of the competition
Use of modeling Support from top management Multiple applications
Which are examples of the application of Big Data analytics?
Using information about current employees to sort through large volumes of job applications, Reviewing social media posts to predict the revenue a new movie will generate and Studying nationwide medical information to inform health policy decisions
Which of the following approaches to using analytics is most likely to create a competitive advantage?
Using multiple applications to support multiple parts of the business
Which of the following approaches to using analytics is most likely to create a competitive advantage? Using a single application to support a single part of the business Using a single application to support multiple parts of the business Using multiple applications to support multiple parts of the business Using multiple applications to support a single part of the business
Using multiple applications to support multiple parts of the business
Which of the following are aspects of critical thinking?
Using qualitative and quantitative information to solve problems creatively Using reason to analyze situations, make decisions, and solve problems
Which of the following are aspects of critical thinking?
Using qualitative and quantitative information to solve problems creatively Using reason to analyze situations, make decisions, and solve problems
Which of the following are aspects of critical thinking?
Using qualitative and quantitative information to solve problems creatively and Using reason to analyze situations, make decisions, and solve problems
Decision-making styles vary along which two dimensions? Defensive avoidance Tolerance for ambiguity Risk multiplication Value orientation
Value orientation Tolerance for ambiguity
Which of the following are examples of Big Data?
Web-browsing data trails, Social network communications, Data in corporate databases and Surveillance data
Conducting a(n) _____ involves analyzing the underlying causes of a problem or opportunity.
diagnosis
Which of the following is the best diagnostic question for an organization practicing evidence-based decision according to Jeffrey Pfeffer and Robert Sutton?
What happens when people fail?
Which of the following is the best diagnostic question for an organization practicing evidence-based decision according to Jeffrey Pfeffer and Robert Sutton? What is the likelihood of failure? Is the proposed action feasible? What happens when people fail? How much will this cost?
What happens when people fail?
Which questions should you ask when developing ready-made solutions based on past experiences?
What lessons can you derive from this experience?, What was the problem? and What was the solution?
Which questions should you ask when developing ready-made solutions based on past experiences?
What was the problem? What lessons can you derive from this experience? What was the solution?
When are directors, managers, and employees most likely to engage in unethical behavior?
When they feel compelled to put company interests ahead of their own sense of right and wrong
When are directors, managers, and employees most likely to engage in unethical behavior? When the company has no major competitors When they prioritize their personal ethics ahead of the company's well-being When they feel compelled to put company interests ahead of their own sense of right and wrong When company leadership is exceptionally demanding of its employees
When they feel compelled to put company interests ahead of their own sense of right and wrong
According to Ed Catmull of Pixar and Disney Animation, what is the absolute minimum that should be accomplished in a project post-mortem?
Write down five things you would do again and five things you wouldn't.
According to Ed Catmull of Pixar and Disney Animation, what is the absolute minimum that should be accomplished in a project post-mortem? Simulate what would have happened if you would have chosen a different strategy. Write down five things you would do again and five things you wouldn't. Give everyone two minutes to criticize the project leader. Rank each team member in order of the importance of their contributions.
Write down five things you would do again and five things you wouldn't.
Brainwriting is the process of brainstorming by using _____.
a computer network
Brainwriting is the process of brainstorming by using ______.
a computer network
In order to prevent groupthink, it is important to do which of the following?
allow criticism
Which two of these options are important in combating groupthink?
allowing other perspectives and allowing criticism
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
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. intuition satisficing analytics ethics
analytics
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. ethics analytics satisficing intuition
analytics
Sam gave employees a 5% raise last year and expects to give the same percentage raise this year, even though it will push his company's salaries above what is normally paid in the industry. This is an example of the _____ bias.
anchoring and adjustment
Sam gave employees a 5% raise last year and expects to give the same percentage raise this year, even though it will push his company's salaries above what is normally paid in the industry. This is an example of the _____ bias. anchoring and adjustment escalation of commitment availability sunk cost
anchoring and adjustment
Sam gave employees a 5% raise last year and expects to give the same raise this year, even though it will push his company's salaries above what is normally paid in the industry. This is an example of the ______ bias.
anchoring and adjustment
Samantha had never traveled to New York City before, but she had been on a recent business trip to Houston. When she learned that the hotel room she wanted in New York City cost $300 per night, she was shocked because she thought the hotel rooms would be priced similarly to those in Houston. This is an example of the ______ bias.
anchoring and adjustment
Samantha had never traveled to New York City before, but she had been on a recent business trip to Houston. When she learned that the hotel room she wanted in New York City cost $300 per night, she was shocked, because she thought the hotel rooms would be priced similarly to those in Houston. This is an example of the _____ bias.
anchoring and adjustment
Samantha had never traveled to New York City before, but she had been on a recent business trip to Houston. When she learned that the hotel room she wanted in New York City cost $300 per night, she was shocked, because she thought the hotel rooms would be priced similarly to those in Houston. This is an example of the _____ bias. cognitive dissonance anchoring and adjustment escalation of commitment sunk-cost
anchoring and adjustment
Samantha had never traveled to New York City before, but she had been on a recent business trip to Houston. When she learned that the hotel room she wanted in New York City cost $300 per night, she was shocked, because she thought the hotel rooms would be priced similarly to those in Houston. This is an example of the _____ bias. escalation of commitment cognitive dissonance anchoring and adjustment sunk-cost
anchoring and adjustment
A consensus is reached when all members are able to express their opinions ______.
and reach agreement to support the final decision
A consensus is reached when all members are able to express their opinions ______. but are unable to make a final decision and decide on a date to make a final decision and reach agreement to support the final decision and vote on a final decision
and reach agreement to support the final decision
An AI application that learns from human inputs in order to assist humans in making better decisions is known as
augmented
In the ______ bias, managers use information readily available from memory to make judgments.
availability
In the ______ bias, managers use information readily available from memory to make judgments. sunk-cost availability confirmation alternative
availability
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
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? analytical directive conceptual behavioral
behavioral
Which decision-making style is the most people-oriented of the four styles?
behavorial
Stores of data that are so large or complex that it is difficult to process them using traditional database management applications are known as ______.
big data
The concept that suggests that the ability of decision makers to be rational is limited by constraints such as complexity, skills, time and money is known as ___ rationality.
bounded
The concept that suggests that the ability of decision makers to be rational is limited by constraints such as complexity, skills, time and money is known as _____ rationality.
bounded
Tonya decided to purchase a piece of equipment from a domestic company instead of an overseas company despite the domestic company's higher cost and lower quality. Her decision was based on uncertainty that the foreign shipment would meet her production deadline. According to Herbert Simon, Tonya was feeling the effects of _____.
bounded rationality
Tonya decided to purchase a piece of equipment from a domestic company instead of an overseas company despite the domestic company's higher cost and lower quality. Her decision was based on uncertainty that the foreign shipment would meet her production deadline. According to Herbert Simon, Tonya was feeling the effects of _____. relaxed avoidance bounded rationality intuition benchmarking
bounded rationality
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.
brainstorming
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.
brainstorming
What is the name of a technique used to help groups generate multiple ideas for solving problems in which potential ideas or solutions are collected (sometimes anonymously) and written on a board or flip chart?
brainstorming
Electronic brainstorming, also called _____, is a technique used to help members of a group come together over a computer network to generate ideas and alternatives for solving problems.
brainwriting
Electronic brainstorming, also called ______, is a technique used to help members of a group come together over a computer network to generate ideas and alternatives for solving problems.
brainwriting
"Don't tell me the truth; just tell me what I want to hear" is an example of the _______ bias.
confirmation
"Don't tell me the truth; just tell me what I want to hear" is an example of the _______ bias. confirmation representative availability sunk-cost
confirmation
"Don't tell me the truth; just tell me what I want to hear" is an example of the _______ bias. availability representative confirmation sunk-cost
confirmation
The _____ bias occurs when people seek data to support their point of view and disregard information that does not support it.
confirmation
The _____ bias occurs when people seek data to support their point of view and disregard information that does not support it. sunk-cost anchoring representativeness confirmation
confirmation
The ______ bias occurs when people seek data to support their point of view and disregard information that does not support it.
confirmation
A _____ is a choice made from available alternatives.
decision
A graph of decisions and their possible consequences used to create a plan is known as a(n) ______.
decision tree
A graph of decisions and their possible consequences used to create a plan is known as a(n) ______. rational model decision tree business analytic incremental model
decision tree
Ronnie's company uses large numbers of snow blowers. After several failed, Ronnie determined that the failures were due to defective motors and decided that the company would use a different vendor for future purchases. In this situation, Ronnie is making a(n) _____. matrix forecast goal diagnosis
diagnosis
Ronnie's company uses large numbers of snow blowers. After several failed, Ronnie determined that the failures were due to defective motors and decided that the company would use a different vendor for future purchases. In this situation, Ronnie is making a(n) ______.
diagnosis
In the ______ method, groups engage in a structured debate between opposing positions (thesis and antithesis) with the aim of reaching a consensus.
dialectic
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
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? behavioral conceptual analytical directive
directive
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 decisions. Which style do they use?
directive
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? conceptual analytical directive behavioral incremental
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
Goal _____ occurs when the primary goal is subsumed by a secondary goal.
displacement
Goal _____ occurs when the primary goal is subsumed by a secondary goal. bias commitment stimulation displacement
displacement
Goal ______ occurs when the primary goal is subsumed by a secondary goal.
displacement
Someone who is trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas, is called a(n) _____.
ethics officer
Someone who is trained about matters of ethics in the workplace, particularly about resolving ethical dilemmas, is called a(n) ______.
ethics officer
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
Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's method of presenting the situation demonstrates the ___ bias.
framing
Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's method of presenting the situation demonstrates the ___ bias. framing sunk-cost representativeness hindsight
framing
Bob was unsure how his boss was going to react to his proposal, so he was careful to put an upbeat "spin" on the situation to emphasize the positive aspects rather than the negative aspects. Bob's method of presenting the situation demonstrates the ______ bias.
framing
The tendency of decision makers to be influenced by the way a situation or problem is presented to them is referred to as the
framing
The tendency of decision makers to be influenced by the way a situation or problem is presented to them is referred to as the _____ bias.
framing
The tendency of decision makers to be influenced by the way a situation or problem is presented to them is referred to as the ______ bias.
framing
When rivals are focused on winning an argument rather than the goal of a meeting and the topics of the meeting are not discussed, it is an example of _____.
goal displacement
When rivals are focused on winning an argument rather than the goal of a meeting and the topics of the meeting are not discussed, it is an example of _____. commitment bias groupthink satisficing goal displacement
goal displacement
When rivals are focused on winning an argument rather than the goal of a meeting and the topics of the meeting are not discussed, it is an example of ______.
goal displacement
All the following are characteristics of group decision making except ______.
groups make decisions quickly
All the following are characteristics of group decision-making EXCEPT _____. their knowledge counts they may be too confident groups make decisions quickly their size affects their decision quality
groups make decisions quickly
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
Lower-level managers often focus on analyzing and safeguarding data, which require the ______ career readiness competencies of computational thinking and information technology application.
hard
The tendency of people to view events as being more predictable than they really are is referred to as
hindsight
The tendency of people to view events as being more predictable than they really are is referred to as _____ bias.
hindsight
The tendency of people to view events as being more predictable than they really are is referred to as ______ bias.
hindsight
The tendency of people to view events as being more predictable than they really are is referred to as
hindsight bias
A person's decision-making style is a combination of how a person perceives something as well as _____.
how they respond to it
A person's decision-making style is a combination of how a person perceives something as well as _____. the time it takes to reach a perception a reflection of how others feel when they verbalize it how they respond to it
how they respond to it
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
The first stage in the rational decision-making process involves _____. identifying the problem implementing the solution evaluating alternative solutions coming up with possible solutions
identifying the problem
The first stage in the rational decision-making process involves ______.
identifying the problem
In the fourth stage of rational decision making, managers will _____. evaluate the alternatives and select a solution develop alternative solutions to the problem or opportunity identify the problem or opportunity implement and evaluate the chosen solution
implement and evaluate the chosen solution
In the fourth stage of rational decision making, managers will ______.
implement and evaluate the chosen solution
Which of the following is an advantage of group decision making?
intellectual stimulation
Which of the following is an advantage of group decision making? goal displacement satisficing intellectual stimulation groupthink
intellectual stimulation
Which of the following is an advantage of group decision making? groupthink satisficing goal displacement intellectual stimulation
intellectual stimulation
"Going with your gut," or _____, is making a choice without the use of conscious thought or logical inference. risk propensity analytics intuition satisficing
intuition
Making a choice without the use of conscious thought or logical inference is known as using _____. (Use only one word.)
intuition
Sam is an experienced firefighter who must act quickly and decisively to do his job. He frequently relies on his ______ to make decisions when there isn't time for rational analysis.
intuition
According to psychologist Daniel Kahneman, System 1 thinking is _____.
intuitive and largely unconscious
According to psychologist Daniel Kahneman, System 1 thinking is _____. rational and subconscious intuitive and largely unconscious nonrational and conscious analytical and conscious
intuitive and largely unconscious
As expertise grows, experts can be less able to see their products from an outsider's view and may make decisions that are no longer intuitive to users. This process has been called the curse of _____.
knowledge
Bagley's decision tree is specifically designed for use when _____.
making ethical choices
When a few members of a group publicly oppose the beliefs, ideas, policies or procedures assumed by the majority of the group, it is referred to as _____.
minority dissent
When a few members of a group publicly oppose the beliefs, ideas, policies or procedures assumed by the majority of the group, it is referred to as _____. minority assent groupthink minority dissent majority opposition
minority dissent
When a few members of a group publicly oppose the beliefs, ideas, policies, or procedures assumed by the majority of the group, it is referred to as ______.
minority dissent
Analytics are best used to help companies track _____ applications.
multiple
Analytics are best used to help companies track _____ applications. simple multiple difficult single
multiple
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.
nonrational
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 complacent rational nonrational
nonrational
Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to make optimal decisions?
nonrational
Evidence-based decision relies on ______.
observations about what actually works
Evidence-based decision relies on ______. observations about what actually works personal beliefs about what should work a leader's authority to make a final choice polls to determine the most popular approach
observations about what actually works
Evidence-based decision relies on ______. personal beliefs about what should work polls to determine the most popular approach observations about what actually works a leader's authority to make a final choice
observations about what actually works
Situations that present possibilities for exceeding existing goals are known as _____.
opportunities
Situations that present possibilities for exceeding existing goals are known as _____. opportunities behaviors decisions problems
opportunities
Situations that present possibilities for exceeding existing goals are known as ______.
opportunities
Ryan learns that distribution problems caused a competitor's sales to fall in his region. He decides to take advantage of the situation by adding a salesperson to capture some of the competitor's lost business. Ryan is demonstrating how a(n) ______ affects decision making.
opportunity
Ryan learns that distribution problems caused a competitor's sales to fall in his region. He decides to take advantage of the situation by adding a salesperson to capture some of the competitor's lost business. Ryan is demonstrating how a(n) ______ affects decision making. schematic threat diagnosis opportunity
opportunity
The _____ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy.
overconfidence
The _____ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy. overconfidence escalation hindsight framing
overconfidence
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
You fall prey to the overconfidence bias when you ______ your knowledge or expertise in a decision situation. accurately estimate ignore underestimate overestimate
overestimate
One obstacle to making evidence-based decisions is that stories are often more ______ than evidence.
persuasive
A data-mining technique used to predict future behavior and anticipate the consequences of change is known as _____ modeling.
predictive
A data-mining technique used to predict future behavior and anticipate the consequences of change is known as ______ analytics.
predictive
In order to develop the best customer base it can, Harrison's Gourmet Foods sends out different types of promotional items to see which one garners the best response in terms of customers who will buy once and come back to order again. The information Harrison's receives provides the basis for _____ modeling.
predictive
In order to develop the best customer base it can, Harrison's Gourmet Foods sends out different types of promotional items to see which one garners the best response in terms of customers who will buy once and come back to order again. The information Harrison's receives provides the basis for _____ modeling. biased avoidance intentional predictive
predictive
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
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
The rational model of decision-making is considered _____ in that it describes how managers should make decisions, rather than how they actually make them. unconventional predictive prescriptive unethical
prescriptive
What are symptoms of groupthink?
rationalization, an illusion of unanimity and a sense of invulnerability
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
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
The ______ bias reflects our tendency to generalize from a small sample or single event.
representativeness
A manager that hires all applicants that have graduated from a certain college because a particularly good employee came from that same college is an example of _____. representativeness bias escalation of commitment bias anchoring and adjustment bias confirmation bias
representativeness bias
A manager that hires all applicants that have graduated from a certain college because a particularly good employee came from that same college is an example of _____. representativeness bias escalation of commitment bias confirmation bias anchoring and adjustment bias
representativeness bias
A manager who hires all applicants who have graduated from a certain college because a particularly good employee came from that same college is an example of ______.
representativeness bias
Heuristics are strategies that ______ the process of making decisions.
simplify
Heuristics are strategies that ______ the process of making decisions. categorize initiate simplify complicate
simplify
Heuristics are strategies that ______ the process of making decisions. initiate categorize complicate simplify
simplify
The ______ bias is demonstrated when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it.
sunk cost
The ______ bias is demonstrated when managers add up all the money already spent on a project and conclude it is too costly to simply abandon it.
sunk-cost
You go to the movie theater to see the latest release by your favorite actor. You quickly realize the movie is not very good, but instead of walking out, you stay to watch the rest of the movie, figuring that you've already spent $9.50 for a movie ticket and $6 for popcorn. This is an example of the _______ bias.
sunk-cost
You go to the movie theater to see the latest release by your favorite actor. You quickly realize the movie is not very good, but instead of walking out, you stay to watch the rest of the movie, figuring that you've already spent $9.50 for a movie ticket and $6 for popcorn. This is an example of the _______ bias. anchoring and adjustment representative sunk-cost confirmation
sunk-cost
All of the following are advantages to group decision making EXCEPT _____.
superiors can dominate or intimidate the group
All of the following are advantages to group decision making EXCEPT _____. different perspectives greater pool of knowledge deeper commitment to the decision superiors can dominate or intimidate the group
superiors can dominate or intimidate the group
All of the following are advantages to group decision making EXCEPT _____. superiors can dominate or intimidate the group different perspectives deeper commitment to the decision greater pool of knowledge
superiors can dominate or intimidate the group
All of the following are advantages to group decision making except ______.
superiors dominating or intimidating the group
Eileen had provided the weekly inventory report to the management team every Friday for the past four months, but she wasn't able to generate the report last week because she was attending a seminar learning how to use the new inventory software. Her boss sent her an e-mail reminding her of the importance of the report and asking her to be sure and submit it every Friday. This is an example of _____.
the availability bias
Eileen had provided the weekly inventory report to the management team every Friday for the past four months, but she wasn't able to generate the report last week because she was attending a seminar learning how to use the new inventory software. Her boss sent her an e-mail reminding her of the importance of the report and asking her to be sure and submit it every Friday. This is an example of _____. the availability bias predictive modeling the sunk-cost bias the Delphi technique
the availability bias
Eileen had provided the weekly inventory report to the management team every Friday for the past four months, but she wasn't able to generate the report last week because she was attending a seminar learning how to use the new inventory software. Her boss sent her an e-mail reminding her of the importance of the report and asking her to be sure and submit it every Friday. This is an example of ______.
the availability bias
What are three characteristics that affect decision making by a group?
the efficiency of the group the size of the group the knowledge of group members
What are three characteristics that affect decision making by a group?
the efficiency of the group the knowledge of group members the size of the group
What are three characteristics that affect decision making by a group?
the size of the group, the knowledge of group members and the efficiency of the group
Research shows that one of the key characteristics of companies that have successfully implemented analytics into the decision-making process, is support from ______.
top management
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
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 _____. people concerns SWOT analysis benchmarking value orientation
value orientation