Decision Making Quiz
Which of the measurable outcomes of the balanced scorecard framework focuses on organizational culture? - customers - financial - internal business process - learning and growth
learning and growth
What is a main component of the belief action outcome framework (BAO) that organizations provide to address the economic, environmental, and social impacts that result from their day-to-day operations? - employee satisfaction reports - customer/member satisfaction reports - belief structure reports - sustainability reports
sustainability reports
Describe the importance of information quality. More than one answer may be correct. - A staggering amount of money is lost as a result of bad data. - According to the Data Management Body of Knowledge, the process of data quality management assures data is" fit for consumption and meet the needs of data consumers." - To avoid costly errors, organizational decisions need to be based on high-quality information. - There is little that can be done to create high-quality data.
- A staggering amount of money is lost as a result of bad data. - According to the Data Management Body of Knowledge, the process of data quality management assures data is" fit for consumption and meet the needs of data consumers." - To avoid costly errors, organizational decisions need to be based on high-quality information.
Describe the balanced scorecard method for decision making. More than one answer may be correct. - The balanced scorecard is used to structure an organization's strategic plan. - Managers rely on information from ESS to populate areas of a balanced scorecard. - Balanced scorecards include measurable outcomes such as financial information and information about internal business processes. - Balanced scorecard include information pertaining to an organization's identified key plausibility indicators (KPIs).
- The balanced scorecard is used to structure an organization's strategic plan. - Managers rely on information from ESS to populate areas of a balanced scorecard. - Balanced scorecards include measurable outcomes such as financial information and information about internal business processes.
What is the third step when applying multiple-criteria decision analysis (MCDA)? - identify available options - identify and select objectives and criteria - calculate the values - describe the context
- identify and select objectives and criteria
Which of the following statements correctly describe structured management decisions? Select all the correct answer options. - They involve tasks and choices that are routine and frequently related to operations - They are regularly made by individual employees and teams - The are made easier through the creation of defined processes and procedures - They involve complex tasks that require each decision to be treated as a new task
- They involve tasks and choices that are routine and frequently related to operations - They are regularly made by individual employees and teams - The are made easier through the creation of defined processes and procedures
Recall factors that contribute to the quality of information. More than one answer may be correct. - accuracy - relevance - timeliness - redundancy
- accuracy - relevance - timeliness
When deciding on a solution, what criteria should a manager use when evaluating different choices? More than one answer may be selected. - benefits - costs - speed - competitive analysis
- benefits - costs
When deciding on a solution, what criteria should a manager use when evaluating different choices? More than one answer may be selected. - benefits - costs - speed - competitive analysis
- benefits - costs
Contemporary behavioral models identify specific management behaviors in practice today. Which of the following activities do managers choose more frequently today than they did in the past? More than one answer may be correct. - communicating orally - maintaining diverse contacts - search for validation - making careful decision
- communicating orally - maintaining diverse contacts
Behavioral scientists have created models that identify how managers work today. Based on their observations, researchers offer a set of five management attributes. Which of the following conditions apply to management at the present time? More than one answer may be correct. - fast-paced work - fragmented activities - currency of information - low technology knowledge
- fast-paced work - fragmented activities - currency of information
Henry Mintzberg classifies management roles into three types. Which of the following roles does this researcher identify? More than one answer may be correct. - interpersonal - informational - decisional - structural
- interpersonal - informational - decisional
From the following list, select all of the decisions or activities that would be considered structured decisions. - inventory decisions - payroll and overtime decisions - market entry or exit decisions - development of a marketing place
- inventory decisions - payroll and overtime decisions
Which types of data are included in the analytical hierarchy process (AHP) programming model for decision making in multifaceted operational environments? Select all of the correct answer options. - qualitative data - observational data - data from enterprise systems - data from human resource systems
- qualitative data - observational data - data from enterprise systems
Recall financial outcomes that are commonly measured and used in the balanced scorecard framework. More than one answer may be correct. - revenue - return on investment (ROI) - cash flow - quality control
- revenue - return on investment (ROI) - cash flow
What provides the structure for structured decisions and tasks in the workplace? More than one answer may be correct. - routine - defined procedures - industry trends - business strategy
- routine - define procedures
From the following list, select all of the performance areas that are typically observed by middle managers and operational managers. - sales - employee performance - adherence to organizational guidelines - strategic financial decisions
- sales - employee performance - adherence to organizational guidelines
In which stage of Herbert Simpson's four stage process for decision making are solutions identified?
2
In terms of information quality, define "relevance" as a factor. - Data should describe and associate with the real-world conditions that it is trying to describe - Data to be collected should be useful to the organization - Data should be in the correct format and collected using legitimate techniques - Data should be well-structured and include all elements that were intended to be collected
Data to be collected should be useful to the organization
When managers work on strategic objectives, handle conflicts, and allocate budgetary resources to subordinates, what role are they enacting, according to Mintzberg? - Decisional - Managerial - Interpersonal - Informational
Decisional
Corporate-level managers/executives are responsible for making decisions that impact profitability and the short-term and long-term success of an organization. To get the information they need, managers rely on output provided from - Transaction Processing Systems (TPS) - Executive Support Systems (ESS) - Management Information System (MIS) - Database Management System (DBMS)
Executive Support System (ESS)
When designing a solution, why is it important to consider all outcomes? - This will inform you of all of the resources you have available to you. - This will help you determine the root of the problem by working backward from the best solution. - This will give you an understanding of what you know and what you don't know. - This will allow you to create multiple plans in order to visualize all possible solutions.
This will allow you to create multiple plans in order to visualize all possible solutions.
IBM estimates the U.S. economy loses over $3.1 trillion per year as a result of - bad data - outdated computer hardware - outdated business software - white-collar crime
bad data
In a multiple-criteria decision analysis (MCDA), what are you doing when you are identifying available options? - multiplying the scores for each criterion (with their weight) and then adding the scores for each criterion together - determining the weight or level of importance of each criterion - identifying the current organizational landscape, stakeholders, and key personnel involved in the decision-making process - comparing different options in order to determine which are best candidates for measure
comparing different options in order to determine which are best candidates for measure
In a multiple-criteria decision analysis (MCDA), what are you doing when you are identifying available options? - multiplying the scores for each criterion (with their weight) and then adding the scores for each criterion together - identifying the current organizational landscape, stakeholders, and key personnel involved in the decision-making process - determining the weight or level of importance of each criterion - comparing different options in order to determine which are best candidates for measure
comparing different options in order to determine which are best candidates for measure
What is the last step in the Five Whys? - ask why the problem happened - consult with members of the organization - identify the current problem - continue to ask why
consult with members of the organization
What is the second step in the decision-making process created by Herbert Simpson? - choice - implementation - intelligence - design
design
Which type of MIS report pinpoints outliers that vary from the norm, such as when a production quota falls below forecasted levels? - exception reports - production reports - forecasting reports - pivot table reports
exception reports
Which type of MIS report pinpoints outliers that vary from the norm, such as when a production quota falls below forecasted levels? - production reports - exception reports - forecasting reports - pivot table reports
exception reports
What type of decision-making software can identify issues and find and implement solutions at transactional speed? - executive-speed - expression -momentum - high-velocity
high-velocity
The business world is overwhelmed by data. It estimated that 1.7MB of data is created every second by every person. Data volume has grown substantially in the last few years, when 90% of the world's data has been created. Of the following, what is the most useful fully computerized tool that can directly translate data into decisions and solutions? - executive support systems - high-velocity automated decision making - database management systems - management information systems
high-velocity automated decision making
What is the third step when applying multiple-criteria decision analysis (MCDA)? - identify available options - identify and select objectives and criteria - describe the context - calculate the values
identify and select objectives and criteria
Which is the stage of Herbert Simpson's four stage approach to decision making where the problem is identified? - design - implementation - intelligence - choice
intelligence
Henry Mintzberg classifies management roles into three types. Which of the following roles does this researcher identify? More than one answer may be correct. - interpersonal - informational - decisional - structural
interpersonal informational decsisional
Which element of the belief action outcome (BAO) framework explains the methods used to measure and monitor the belief and action steps of the framework? - belief formation - outcome terminology - online sustainability - action formation
outcome terminology
In the analytical hierarchy process (AHP) programming model, what is the first thing placed into a hierarchy to facilitate the decision-making process? - alternative decisions that can be made - variables or conditions in the situation - all possible decisions that can be made - relevant, qualitative and observational data
variables or conditions in the situation