MGMT 3140 Quiz 1

If a manager faces a programmed decision, that means:

A clear structure or procedure exists for arriving at the right decision.

When choosing a phone plan, Max decides on the first option that meets the company's requirements rather than investigating all available options. This is an example of____?

Satisficing

Important, difficult decisions tend to be nonprogrammer, and they demand creative approaches.

True

The manager of a burger restaurant faces conflict when she must decide whether to cut hours for all employees or only lay off two employees.

True

When Luke words his suggestions as positively as possible, his managers are more likely to be interested in them because of the bias know as the "Framing Effect".

True

When decision makers carefully and conscientiously execute all 6 stages of the decision-making process, the decision makers are said to have exercised________?

Vigilance

Jose is trying to decide how to diversify his company so that it produces a large variety of products and competes in new markets. This is a(n) example of ________ decision.

Non-programmed

Leila has identified a problem that consists of a gap between what her company is doing now and what it can do to create a more profitable future. The "problem" that Leila has identified is also a(n)?

Opportunity

In the decision-making process, ________ means achieving the best possible balance among several goals.

Optimizing

David is a small business owner who thinks it is more important to spend money on marketing his current product line than to invest in the research to develop new products. Which psychological bias is David displaying?

Discounting the future

What is the usual state of affairs in managerial decision making?

Lack of Structure

At what percentage is risk a factor in a decision?

Anything less than 100 Percent.

When a manager must consider opposing pressures from different sources, the manager faces _______?

Conflict

Which of the following is disadvantage of group decision-making?

Experiencing "Groupthink"

Contingency plans should be developed only after a decision has been made and implemented.

False

Following all six stages of the decision making process guarantees successful decisions.

False

The______ model of decision making occurs when people aren't sure of their goals, or disagree about the goals and are unsure of what to do.

Garbage Can

In an ideal decision-making process, the initial step is to______?

Identify the problem

Which of the following statement of group decision-making true?

If enough time is available, groups usually make higher-quality decisions than most individuals.

Qing's employees have asked that he switch to flextime so they can better manage their children and schedules. Reluctant to make the change all at once, Qing agrees to experiment staggering the end and start times for a 3 month period. What model of decision making is Qing making?

Incremental