MGT 2010 Chapter 7

Technical concerns or social concerns

Value orientation reflects the extent to which an individual focuses on which of the following dimensions?

decision tree

A graph of decisions and their possible consequences used to create a plan is known as a(n) ______.

how they respond to it

A person's decision-making style is a combination of how a person perceives something as well as _____.

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 - deeper commitment to the decision - greater pool of knowledge - different perspectives

- may overanalyze a situation - take time to make decisions

Analytical decision makers: - may overanalyze a situation - take time to make decisions - tend to be autocratic - are overly focused on the short-run

- Value orientation - Tolerance for ambiguity

Decision-making styles vary along which two dimensions? - Defensive avoidance - Value orientation - Risk multiplication - Tolerance for ambiguity

simplify

Heuristics are strategies that ______ the process of making decisions.

- have a hard time saying no - avoid conflict

People with a behavioral decision making style are more likely to: - have a hard time saying no - be autocratic - avoid conflict

- Find creative solutions - Rely on intuition - Take risks

People with a conceptual decision-making style are likely to do which of the following? - Focus on the facts - Find creative solutions - Rely on intuition - Take risks - Act autocratically

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?

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.

nonrational

Satisficing and intuition are two ____________ models of decision making.

analytics

Sophisticated forms of business data analysis are known as business _________.

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 _____.

overconfidence

The _____ bias occurs when people's positive feelings about their own decision-making ability is greater than their objective accuracy.

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.

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.

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.

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?

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?

behavioral

Which decision-making style is the most people-oriented of the four styles?

The nonrational model

Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to make optimal decisions?

- Web-browsing data trails - Surveillance data - Social network communications - Data in corporate databases

Which of the following are examples of Big Data? - Web-browsing data trails - Unrecorded customer interactions - Surveillance data - Social network communications - Data in corporate databases

- Portfolio analysis - Time-series forecast

Which of these are examples of business analytics? - Marketing plans - Advertising campaigns - Portfolio analysis - Groupthink - Time-series forecast

- 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 will be influenced by their own self-interest when choosing among alternative courses of action. - 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 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.

- 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 gives managers an understanding of how different people reach different conclusions. - It allows managers to better identify personal strengths and weaknesses. - It enables managers to more accurately blame others for problems. - It reduces managers' ability to predict future challenges.

Carefully considers lots of information and alternatives

Which one of the following best describes the decisions made by a person with an analytical style?

heuristics

______ are strategies such as "rules of thumb" that simplify decision making.

value orientation

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