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Exam 9: Managerial Decision Making

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Question 61

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According to Unlocking Innovative Solutions Through PEOPLE in Chapter 9, Southwest Airlines uses simulation to change its freight handling system.

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Question 62

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What are the six steps in the managerial decision making process?

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The six steps are (1) recognize the deci...

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Question 63

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Nonprogrammed decisions require six steps, however, programmed decisions being structured and well understood requires only one step.

_________________________ is the process of identifying problems and opportunities and then resolving them.

____________________ exists when managers see potential of enhancing performance beyond current levels.

Personal __________ style refers to differences among people with respect to how they perceives problems and make decisions.

CASE Scenario - Brandon Folk Brandon Folk manages a group of eight electrical engineers at Athex Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Brandon's engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Brandon wasn't certain that developing this technology was the best use of his limited resources. Brandon was facing a significant decision. -If Brandon uses the classical model of decision making, which of these assumptions would he reject?

Choosing between a differentiation strategy and an overall cost leadership strategy is an example of

Risk propensity refers to the willingness to undertake risk with the opportunity of gaining an increased payoff.

All of the following are characteristics of administrative decision making model EXCEPT

CASE Scenario - Brandon Folk Brandon Folk manages a group of eight electrical engineers at Athex Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Brandon's engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Brandon wasn't certain that developing this technology was the best use of his limited resources. Brandon was facing a significant decision. -Which of the following steps would Brandon not take in making his decision?

____________________ is important because decision making is a continuous, never ending process.

The rapid pace of today's business environment requires only top management to make decisions and have the information, skills, and freedom they need to respond immediately to problems and questions.

Managers might block or distort negative information because they don't want to be responsible for a bad decision.

A(n) ____________________ is a choice made from available alternatives.

____________________ decisions are made in response to situations that are unique, are poorly defined and largely unstructured, and have important consequences for the organization.

The __________ model of decision making is associated with satisficing, bounded rationality, and uncertainty.

List the five guidelines of effective decision-making in today's businesses.

Coalition building is the process of forming alliances among managers.

Bierderlack has a policy that states that more than three absences in a six-month period shall result in a suspension. Erin, the manager, has just decided to suspend one of her shift employees for violating this policy. This is an example of