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Exam 6: Managerial Decision Making

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Question 91

Multiple Choice

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Match each term with the correct statement below. -making a final choice

A) identifying opportunities and diagnosing problems
B) identifying objectives
C) generating alternatives
D) evaluating alternatives
E) reaching decisions
F) choosing implementation strategies
G) monitoring and evaluating

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Question 92

Multiple Choice

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Review Later

Match each term with the correct statement below. -involves determining the value or adequacy of the alternatives generated

A) identifying opportunities and diagnosing problems
B) identifying objectives
C) generating alternatives
D) evaluating alternatives
E) reaching decisions
F) choosing implementation strategies
G) monitoring and evaluating

Correct Answer

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Question 93

Multiple Choice

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Susan Shaw, the CEO of Shaw Industries, strongly believes in group decision-making. Her favorite technique is to appoint an individual or subgroup to present critiques of proposed decisions. This approach to group decision-making is called

The nominal group technique is used in situations where group members must isolate their judgments from one another to solve a problem or determine a satisfactory course of action.

The two most frequently used portfolio matrices are the

Which of the following is the best definition of the statement, "The behavioral decision model suggests that a person's cognitive ability to process information is limited?"

All of the following concepts are consistent with the __________ decision-making model: bounded rationality, intuition, and satisficing.

Before writing his article about future trends in the auto industry, Christopher sent survey instruments or questionnaires to experts in the auto industry. This decision-making technique is referred to as the __________ technique.

James Ericson, the CEO of Northwestern Mutual Life Insurance, is a very careful decision-maker. In observing his decision-making style, one observer remarked, "Mr. Ericson is very concerned for and attentive to the correct decision-making procedures. Based on this description, Mr. Ericson's decision-making style can be described as

The CEO of Interstate Tires believes in group decision-making. His favorite technique, particularly when faced with an important decision, is to ask his staff to structure a debate that exposes the pros and cons of a particular decision. This approach to group decision-making is referred to as

Match each term with the correct statement below. -a situation in which a person must decide whether or not to do something that, although benefiting oneself or the organization, may be considered unethical and perhaps illegal

Match each term with the correct statement below. -assessing the impact of a decision

The CEO of ITT Industries, knows that the identification of both long-range and short-range organizational targets is important in order for effective decision-making to occur. The identification of these targets occurs in the __________ step of the decision-making process.

__________ has been described as everything from an unconscious analysis based on past experience to a paranormal ability called a "sixth sense."

Before a new resort, Marriott does an exhaustive amount of marketing research of a variety of demographic variables. Which stage of the decision-making process requires managers to place a premium on obtaining accurate, reliable information about the organization's external environment?

Match each term with the correct statement below. -identifying the intended results the organization wants to achieve

Match each term with the correct statement below. -a model for participation in decision-making that helps managers determine when group decision-making is appropriate

Why is obtaining reliable and accurate information so important to the first step of the decision-making process? Give an example (other than those in the textbook) which demonstrates how incomplete or poor information leads to poor decision-making.

Match each term with the correct statement below. -a descriptive framework for understanding that a person's cognitive ability to process information is limited

A/an __________ is a situation in which a decision-maker must decide whether or not to do something that will benefit himself or the organization he works for but may be considered unethical and perhaps even illegal.