Ch 7 Learnsmart MAN 3025

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

-Conscious -Analytical -Deliberate

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

-Is it feasible? -Is it ethical? -Is it ultimately effective?

Which of these are reasons for chief executive officers (CEOs) getting increasingly ousted for ethical violations 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. -Digital communications are more susceptible to hackers and whistleblowers.

What is the most valuable competitive resource for a manager who needs alternative solutions to a problem?

Employees with ideas

What is the third stage of the rational model of decision making?

Evaluate alternatives and select a solution.

A _____ is a choice made from available alternatives.

decision

Satisficing and intuition are two ____________ models of decision making.

nonrational

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

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

_____________ reflects the extent to which a person focuses on either task and technical concerns or people and social concerns when making decisions.

Value orientation

The first stage in the rational decision-making process involves _____.

identifying the problem

In the fourth stage of rational decision making, managers will _____.

implement and evaluate the chosen solution

Successful implementation of major decisions requires which of the following?

-Careful planning -Sensitivity to those affected by the decision

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 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 the following are true regarding the second stage in the rational model of decision making?

-Once you have identified a problem or an opportunity and diagnosed its causes, you need to come up with both obvious and creative alternative solutions. -Creativity precedes innovation and has been described as the source of all intellectual property.

Decision-making styles vary along which two dimensions?

-Value orientation -Tolerance for ambiguity

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 -implement and evaluate the solutions chosen

Which models are characteristic nonrational models of decision making?

Models that describe how managers actually make decisions

_____________ are difficulties that inhibit the achievement of goals.

Problems

Which of the following is an accurate description of decision making?

The process of identifying and choosing alternative courses of action

Which model of decision making explains how managers should use logic to determine the optimal means of furthering the organization's best interests?

The rational model

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

directive

According to Kahneman, System 1 thinking is _____.

intuitive and largely unconscious

Constance Bagley's decision tree is specifically designed for use when _____.

making ethical choices