Chapter 2 Management

Gavina Gourmet Coffee uses data because it wants to avoid what the chapter refers to as ________, which keeps a decision maker from making even reasonable estimates regarding an outcome.

Uncertainty

Finding meaningful patterns in a data set of potential candidates with the use of​ mathematics, predictive​ modeling, and machine learning to identify the best hires for the organization is​ ________.

analytics

Gavina Gourmet Coffee's preference for talking a lot and then "getting behind someone's idea by following and support" approach to decision making is an example of a ________.

design thinking style

The Gavina family uses external data and facts to inform their marketing decisions at Gavina Gourmet Coffee. For managers, this is one important element of what's called ________.

evidence-based management

The CH2MHill representative says that he noticed that there were only 200 visitors to the China Regional page, and that there seemed to be little value to that page. This is an example of ________.

identifying the problem

A clerk at a department store cannot issue a refund for a customer unless the customer produces a store receipt. The customer informs the clerk that he never received a receipt in the first place. The clerk escalates the issue to a manager for resolution. The​ manager's resolution is an example of a​ ________.

nonprogrammed decision

A manager who is fully​ informed, completely​ logical, and makes choices that are intended to maximize value is utilizing​ ________.

rational decision making

You​ aren't looking for the​ "sharpest needle in the​ haystack"; you only want one that is sharp enough to sew with. This is an example of​ ________.

satisficing

Structured problems are​ ________.

straightforward, familiar, and easily defined

Bob does not think he can complete the current project​ he's working on with the resources he has available. The product may also become obsolete by the time it is released due to scheduling delays.​ However, he presses forward because his department has already spent​ $100,000 and 6 months working on the project. This is an example of the​ ________.

sunk costs error

If Gavina Gourmet Coffee's Don Francisco brand had a poor market introduction and lost significant money and the company then decided to put substantially more money into this brand, this would be an example of the ________.

sunk costs error

When Nikki passes the first management quiz with flying​ colors, she credits her dedication and intellect. When she fails the first​ test, she blames it on a poorly worded test. This is an example of the​ ________ bias.

​self-serving

When the CH2MHill representative discussed the problem and his suggested solution with his colleagues, he received negative feedback. This process was part of which decision-making step?

Analyzing alternatives

CH2MHill ended up with a compromise; it scaled back on the targeted Regional section and added more global information on the homepage. What does this type of decision most likely indicate?

Bounded rationality

The representative of CH2MHill mentions that in many cases making a decision based on a balance of intuition and data analysis is best. What does this statement most likely illustrate?

Design Thinking

When an employee examines the rational aspects of a situation as well as the​ emotional, and uses observation and inquiry​ skills, which approach to decision making is being​ used?

Design Thinking

The authors of the text and the CH2MHill representative all comment on the availability of massive amounts of data in the current business environment. How would you best summarize their feelings concerning data and decision making?

The availability of big data helps decision making, but must be used with caution.

Which of the following is the opposite of Gavina Gourmet Coffee's decision-making style?

Intuitive decision making

You have decided​ it's time for a new car and make a list of what you want in a new​ car, such as fuel​ efficiency, seating​ capacity, and cargo area. Which step of the​ decision-making process are you​ in?

Identifying decision criteria

Which of the following tasks must be completed first as you begin the​ decision-making process?

Identifying the problem