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Fundamentals of Management 3 Foundations of Decision Making

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  Fundamentals of Management, 7e  (Robbins/DeCenzo/Coulter)Chapter 3 Foundations of Decision Making 1) In decision making, a problem can be defined as a discrepancy between what exists and what the problem solver desires to exist.Answer: T! #) The second step in the decision$making process is identifying a problem.Answer: %A&' () A decision criterion defines factors that are relevant in a decision.Answer: T! ) *anagers identify a problem by comparing the c+rrent state of affairs to some standard.Answer: T! ) All criteria are e-+ally important in the decision$making process.Answer: %A&' ) Identifying the wrong problem is /+st as m+ch a fail+re for a manager as identifying the right  problem and failing to solve it.Answer: T! 0) The final step of the decision$making process is to implement the alternative that has been selected.Answer: %A&' ) A he+ristic can simplify the decision$making process.Answer: T! 2) 3eca+se he+ristics simplify the decision$making process, they are +nlikely to lead to errors.Answer: %A&' 14) 5ecision makers who 6cherry$pick6 information that matches what they already know are g+ilty of confirmation bias.Answer: T! 11) A basketball coach who takes a very good shooter o+t of a game beca+se she missed her last two shots has availability bias.Answer: T! 1#) A rational decision will never fail to provide the best and most s+ccessf+l sol+tion to a  problem.Answer: %A&' 1() *aximi7ing val+e means a decision will have the best possible o+tcome for the parties involved. Answer: T! 18opyright 9 #411 earson d+cation, Inc  1) ;ne ass+mption of bo+nded rationality is that managers can analy7e all relevant information abo+t all alternatives for a sit+ation.Answer: %A&' 1) A synonym for the word  satisfice  is maximize .Answer: %A&' 1) ;ne ass+mption of bo+nded rationality is that managers +s+ally make rational decisions.Answer: T! 10) Int+itive decision making is systematic, logical, and orderly.Answer: %A&' 1) Int+itive decision making cannot be a part of the rational decision$making process.Answer: %A&' 12) The expression 6throwing good money after bad6 is an example of an escalation of commitment.Answer: T! #4) motions sho+ld always be strictly ignored in a decision$making process.Answer: %A&' #1) rogrammed decisions tend to be ro+tine.Answer: T! ##) A r+le is simpler than a policy or a proced+re to implement.Answer: T! #() Implementing a proced+re re-+ires more /+dgment and interpretation than implementing a  policy.Answer: %A&' #) A highway speed limit is an example of a policy.Answer: %A&' #) *anagerial decisions are likely to become more programmed as managers rise in an organi7ational hierarchy.Answer: %A&' #) *ost managerial decisions incl+de an element of risk.Answer: T! #0) !ncertainty involves a sit+ation in which the probability of a certain o+tcome is known to be small.Answer: %A&' #) A manager is more confident of his assessment of a sit+ation if it involves risk rather than +ncertainty.Answer: T! #8opyright 9 #411 earson d+cation, Inc  #2) <ro+p decisions tend to provide more complete information than individ+al decisions.Answer: T! (4) An advantage of gro+p decisions is that they increase the perception of the legitimacy of the sol+tion.Answer: T! (1) A drawback of gro+p decision making is gro+pthink.Answer: %A&' (#) <ro+ps tend to be more efficient and less effective than individ+al decision making.Answer: T! (() Two ma/or advantages of electronic meetings are anonymity and honesty.Answer: T! () A co+ntry with high +ncertainty avoidance and high power distance is more likely to engage in gro+pthink than a co+ntry with low +ncertainty avoidance and low power distance.Answer: T! () 8reative sol+tions to problems are val+ed beca+se they are new and different from traditionalsol+tions.Answer: %A&' () 5ecision making begins with ========.A) selecting alternatives3) identifying decision criteria8) identifying a problem5) eliminating false alternativesAnswer: 8(0) >hich of the following defines a  problem  in the decision$making process?A) a discrepancy between what exists and what the decision maker desires to exist 3) a discrepancy between the ideal and the practical8) something that ca+ses irritation5) something that calls for attentionAnswer: A (8opyright 9 #411 earson d+cation, Inc  () The decision$making process consists of a series of eight steps that identify a problem and work toward +ltimately ========.A) determining if there is a sol+tion to the problem3) solving the problem8) making a plan to solve the problem5) breaking down the problem into a series of stepsAnswer: 3(2) To identify a problem, a manager ========.A) compares one set of standards or goals to a second set of standards or goals3) looks for +nhappy c+stomers8) +ses int+ition to see that things don@t look right5) compares the c+rrent state of affairs with some standard or goalAnswer: 54) A manager can faithf+lly exec+te the decision$making process, b+t still end +p with nothing of val+e if ========.A) he fails to identify the correct problem3) he fails to assign n+mber val+es to different criteria8) he solves the problem inefficiently5) he fails to correctly identify the steps of the processAnswer: A1) A manager is considering p+rchasing new comp+ters for her department. The manager spends time assessing the comp+ters her department now has. >hich stage of the decision$making process is she going thro+gh? A) identification of a problem3) identification of decision criteria8) development of alternatives5) implementation of an alternativeAnswer: A#) A manager is determining what kind of new comp+ters she sho+ld p+rchase for her department. 'he has made a list of five different comp+ter models for consideration. >hich stageof the decision$making process is this? A) selection of an alternative3) identification of decision criteria8) development of alternatives5) analysis of alternativesAnswer: 8 8opyright 9 #411 earson d+cation, Inc
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