FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 9: Managerial Decision Making

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

True/False

Review LaterAdd Note

Review Later

According to the administrative model of decision making, most managers settle for a satisficing rather than a maximizing solution.

A) True
B) False

Correct Answer

verified

Show Answer

Question 2

True/False

Review LaterAdd Note

Review Later

Administrative and political decision-making procedures and intuition have been associated with high performance in unstable environments in which decisions must be made rapidly and under more difficult conditions.

A) True
B) False

Correct Answer

verified

True

Question 3

Multiple Choice

Review LaterAdd Note

Numerous studies have found that effective managers use a combination of __________ and __________ in making complex decisions under time pressure.

__________ are differences among people with respect to how they perceive problems and make choices.

Coalition building is the process of forming alliances among managers who support a specific goal.

__________ occurs when a manager puts too much value on evidence that is confident with a favored belief or viewpoint and discounts evidence that contradicts it.

In the implementation stage of the decision process, decision makers gather information that tells them how well the decision was implemented and whether it was effective in achieving its goals.

There is a greater possibility of failure with uncertainty than with risk.

The behavioral style is the decision style often adopted by managers who like to consider complex solutions based on as much data as they can gather.

Which of the following statements regarding the development of alternatives stage of the managerial decision-making process is true?

Managers confront a decision requirement in the form of either a problem or an opportunity.

The recognition of decision requirement stage involves the use of managerial, administrative, and persuasive abilities to ensure that the chosen alternative is carried out.

__________ means that all the information the decision maker needs is fully available.

During the fallout of the global financial crisis of the late 2000s, finance companies had to make important decisions in a highly ambiguous environment. The decision to buy out failed banks could best be described as what type of decision?

Intuition represents a quick apprehension of a decision situation based on past experience but without conscious thought.

__________ refers to the tendency of people in groups to suppress contrary opinions.

The administrative model of decision making describes how managers actually make decisions in difficult situations rather than how they should make decisions according to a theoretical ideal.

When managers base decisions on what has worked in the past and fail to explore new options, they are:

Managers make decisions from available alternatives; however, in reality, there are many times when the information needed is not available, unknown, or not knowable. Write a short essay that shows the similarities and differences between programmed and nonprogrammed decisions, and their relationship to certainty and uncertainty. Include examples that you believe represents each type of decision.

"When did it occur?" and "How did it occur?" are questions associated with which step of the managerial decision-making process?