general business data bank general business data bank

Question # 00004629 Posted By: spqr Updated on: 12/04/2013 02:30 PM Due on: 12/31/2013
Subject General Questions Topic General General Questions Tutorials:
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1. Decision making is easy, given that everybody makes decisions everyday.

2. Decision-making must not be done amid ever-changing factors, unclear information, and conflicting points of view.

3. A decision is a choice made from available alternatives.

4. Programmed decisions are decisions that are made for situations that have occurred often in the past and allow decision rules to be developed to guide future decisions.

5. Two classifications of management decisions are programmed and structured.

6. Two employees in Stacey's department quit which is normal for her department. She is faced with the decision to fill these positions. This would be considered a nonprogrammed decision.

7. Gerald's Groceries and Marty's Market decided to merge their operations. This would be considered a nonprogrammed decision.

8. WorldCom, a telecommunications company, decided to buy Skytel in 1999. This would be considered a programmed decision.

9. Uncertainty means that a decision has clear-cut goals, and that good information is available, but the future outcomes associated with each alternative are subject to chance.

10. The main difference between risk and uncertainty is that with risk you know the probabilities of the outcomes.

11. Uncertainty is by far the most difficult decision situation.

12. A situation where the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable refers to ambiguity.

13. The classical decision making model assumes that the decision-maker is rational, and makes the optimal decision each time.

14. Normative means it defines how a decision maker should make decisions.

15. The political model represents an "ideal" model of decision making that is often unattainable by real people in real organizations.

16. The administrative model of decision making describes how managers actually make decisions in difficult situations.

17. Normative decision theory recognizes that managers have only limited time and cognitive ability and therefore their decisions are characterized by bounded rationality.

18. Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria regardless of whether better solutions are expected to exist.

19. The administrative model is considered to be normative.

20. Goals often are vague, conflicting, and lack consensus among managers, according to the administrative model of decision making.

21. According to the administrative model of decision making, managers' searches for alternatives are limited because of human, information, and resource constraints.

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

23. According to both research and managerial experience, intuitive decisions are best and always work out.

24. Managers need to take a balanced approach for effective decision making.

25. According to the New Manager Self-Test, linear means to use primarily intuition to make decisions; nonlinear means using logical rationality to make decisions.

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Tutorials for this Question
  1. Tutorial # 00004428 Posted By: spqr Posted on: 12/04/2013 02:39 PM
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