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Exam 6: Managers As Decision-Makers

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Question 41

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discuss bounded rationality and satisficing.

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Despite the limits to perfect rationalit...

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Question 42

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Most managers have characteristics of linear thinking style decision makers.

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Question 43

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___________is the existence of a discrepancy between an existing and a desired state of affairs.

The concept of "Shura" is close to the consultative decision making style.

To make effective decisions in today's fast- moving world, managers need to ____________.

When managers circumvent the rational decision- making model and find ways to satisfice, they are following the concept of ____________.

Programmed decisions tend to be repetitive and routine.

What is the step where a decision maker wants to be creative in coming up with possible alternative?

Nonprogrammed decisions are best described as___________ .

When analyzing alternatives, what becomes evident?

Lower- level managers typically confront what type of decision making?

The availability bias describes when decision makers try to create meaning out of random events.

The Car (Scenario) Haifa is a student, and her older brother has loaned her an old car. The car is in need of several repairs before she will feel comfortable driving it. -In talking with an automotive repair person, Haifa needs to prioritize the repairs. Her first concern is safety of the vehicle. This step in the decision- making process is called ___________.

Which of the following is a difference between a policy and a rule?

In identifying a problem, a manager___________ .

The fourth step of the decision- making process requires the decision maker to list viable alternatives that could resolve the problem.

A ____________ is an explicit statement that tells a manager what he or she can or cannot do.

The First Job (Scenario) Upon graduation, you search for a job with the university's job placement center. Although you have studied and prepared to work in an advertising agency, the first job that you are offered is a supervisor in a manufacturing company working the afternoon shift from 3:00 P.M. until 11:00 P.M. -If you had made a larger search using the Internet and other employment search processes, you might have been able to find more employment opportunities. This would have been a more ___________decision- making process.

Risk is a situation in which a decision maker has neither certainty nor reasonable probability estimates.

One assumption of rationality is that we cannot know all of the alternatives.