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Exam 9: Managerial Decision Making

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Question 61

True/False

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For a nonprogrammed decision, feasible alternatives are easy to identify; in fact, they usually are already available within the organization's rules and procedures.

A) True
B) False

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Question 62

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Vaughn Bately Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently, one of Vaughn'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 Vaughn wasn't certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision. -Which of the following steps would Vaughn not take in making his decision?

A) Recognize the decision requirement
B) Implement the chosen alternative
C) Create a set of alternatives
D) Diagnose and analyze problem causes
E) All of these steps would be included.

F) C) and D)
G) A) and D)

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Question 63

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Step one in the managerial decision-making process is recognition of decision requirement.

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

Explain how a manager selects the desired decision in the managerial decision-making process.

The __________ of decision making is based on rational economic assumptions and manager beliefs about what ideal decision making should be.

The __________ is the individual who is assigned the role of challenging the assumptions and assertions made by the group.

The political model of decision making assumes that managers have the time, resources, and mental capacity to identify all dimensions of the problem and process all relevant information.

List four of the eight questions Kepner and Tregoe recommend that managers ask when diagnosing and analyzing causes.

Which of the following means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable?

__________ means that the goals to be achieved or the problem to be solved is unclear, alternatives are difficult to define, and information about outcomes is unavailable.

The concept that people have the time and ability to process only a limited amount of information with which to make decisions is known as:

Which of the following is an assumption of the classical model of decision making?

The __________ of decision making describes how managers make decisions in situations that are characterized by uncertainty and ambiguity.

The classical model of decision making is most useful when applied to programmed decisions and to decisions characterized by certainty or risk because relevant information is available and probabilities can be calculated.

Programmed decisions involve situations that have occurred often enough to enable decision rules to be developed and applied in the future.

The administrative model of decision making assures that most managers settle for a __________ rather than a __________ solution.

Two area banks, Bank A and Bank B, decided to merge their operations. This is an example of a:

The condition under which ambiguity occurs is when:

Satisficing behavior occurs when we choose the first solution alternative that satisfies minimal decision criteria, even if better solutions are presumed to exist.