BUSA Chapter 7 Flashcards
1
Q
The ability to understand new technologies and to use them to their best advantage
A
Technological competency
2
Q
Technological competency
A
The ability to understand new technologies and to use them to their best advantage
3
Q
Information competency
A
The ability to locate, gather, organize, and display information
4
Q
The ability to locate, gather, organize, and display information
A
Information competency
5
Q
Analytical competency
A
The ability to evaluate and analyze information to make actual decisions and solve real problems
6
Q
The ability to evaluate and analyze information to make actual decisions and solve real problems
A
Analytical competency
7
Q
Data
A
Raw facts and observations
8
Q
Information
A
Data made useful and meaningful for decision-making
9
Q
Raw facts and observations
A
Data
10
Q
Data made useful and meaningful for decision-making
A
Information
11
Q
Criteria of Data to Create Useful Information
A
Timely, high quality, complete, relevant, understandable
12
Q
Data mining
A
The process of analyzing data to extract information not offered by the raw data alone
13
Q
The process of analyzing data to extract information not offered by the raw data alone
A
Data mining
14
Q
Business intelligence
A
The process of tapping or mining information systems to extract data that are most potentially useful for decision-makers
15
Q
The process of tapping or mining information systems to extract data that are most potentially useful for decision-makers
A
Business intelligence
16
Q
Five Vs of Data
A
Volume, variety, veracity, velocity, and value
17
Q
Data visualization
A
Executive dashboards that visually display and update key performance metrics in the form of graphs, charts, and scorecards in real time
18
Q
Executive dashboards that visually display and update key performance metrics in the form of graphs, charts, and scorecards in real time
A
Data visualization
19
Q
Problem solvers
A
Willing to make decisions and try to solve problems, but only when forced into it by the situation
20
Q
Willing to make decisions and try to solve problems, but only when forced into it by the situation
A
Problem solvers
21
Q
Problem solving
A
The process of identifying a discrepancy between an actual and desired state of affairs, and then taking corrective action to resolve the problem
22
Q
The process of identifying a discrepancy between an actual and desired state of affairs, and then taking corrective action to resolve the problem
A
Problem solving
23
Q
Decisions
A
Choices among alternative possible courses of action
24
Q
Choices among alternative possible courses of action
A
Decisions
25
Performance threat
Something is already wrong or has the potential to go wrong
26
Something is already wrong or has the potential to go wrong
Performance threat
27
Performance opportunity
Offers the chance for better future performance if the right steps are taken
28
Offers the chance for better future performance if the right steps are taken
Performance opportunity
29
Problem solvers
Willing to make decisions and try to solve problems, but only when forced into it by the situation
30
Willing to make decisions and try to solve problems, but only when forced into it by the situation
Problem solvers
31
Problem seekers
Constantly process information looking for problems to solve, even before they occur
32
Constantly process information looking for problems to solve, even before they occur
Problem seekers
33
Problem avoiders
Ignore information indicating a performance opportunity or threat
34
Ignore information indicating a performance opportunity or threat
Problem avoiders
35
Systematic thinking
Individuals approach problems using a rational, step-by-step, analytical process
36
Individuals approach problems using a rational, step-by-step, analytical process
Systematic thinking
37
Intuitive thinking
Quick and broad evaluation of the citation as well as possible alternative courses of action
38
Quick and broad evaluation of the citation as well as possible alternative courses of action
Intuitive thinking
39
Multidimensional thinking
An ability to view many problems simultaneously, in relationship to one another and across both long and short time horizons
40
An ability to view many problems simultaneously, in relationship to one another and across both long and short time horizons
Multidimensional thinking
41
Strategic opportunism
The ability to remain focused on long-term objectives while being flexible enough to resolve short-term problems and opportunities in a timely way
42
The ability to remain focused on long-term objectives while being flexible enough to resolve short-term problems and opportunities in a timely way
Strategic opportunism
43
Cognitive styles
The ways individuals deal with information while making decisions
44
The ways individuals deal with information while making decisions
Cognitive styles
45
Sensation thinkers
Tend to emphasize the impersonal rather than the personal and take a realistic approach to problem solving. They like hard facts, clear goals, certainty and situations of high control
46
Tend to emphasize the impersonal rather than the personal and take a realistic approach to problem solving. They like hard facts, clear goals, certainty and situations of high control
Sensation thinkers
47
Intuitive thinkers
Are comfortable with abstraction and unstructured situations. they tend to be idealistic, prone toward intellectual and theoretical positions; they are logical and impersonal but also avoid details
48
Are comfortable with abstraction and unstructured situations. they tend to be idealistic, prone toward intellectual and theoretical positions; they are logical and impersonal but also avoid details
Intuitive thinkers
49
Sensation feelers
Tend to emphasize both analysis and human relations. They tend to be realistic and prefer facts; they are open communicators and sensitive to feelings and values
50
Tend to emphasize both analysis and human relations. They tend to be realistic and prefer facts; they are open communicators and sensitive to feelings and values
Sensation feelers
51
Intuitive feelers
Prefer broad and global issues. They are insightful and tend to avoid details, being comfortable with intangibles; they value flexibility and human relationships
52
Prefer broad and global issues. They are insightful and tend to avoid details, being comfortable with intangibles; they value flexibility and human relationships
Intuitive feelers
53
Structured problems
Familiar, straightforward, and have clear information needs
54
Familiar, straightforward, and have clear information needs
Structured problems
55
Programmed decisions
Use solutions or decision rules already available from experience
56
Use solutions or decision rules already available from experience
Programmed decisions
57
Unstructured problems
New or unusual situations characterized by ambiguities and information deficiencies
58
New or unusual situations characterized by ambiguities and information deficiencies
Unstructured problems
59
Nonprogrammed decisions
Novel solutions are specifically crafted to meet the demands of the unique situation at hand
60
Novel solutions are specifically crafted to meet the demands of the unique situation at hand
Nonprogrammed decisions
61
Crisis decisions
Unexpected problems that can lead to disaster if not resolved quickly and appropriately
62
Unexpected problems that can lead to disaster if not resolved quickly and appropriately
Crisis decisions
63
Certain environments
Complete factual information is available about possible alternative courses of action and their outcomes
64
Complete factual information is available about possible alternative courses of action and their outcomes
Certain environments
65
Risk environments
Facts and information on action alternatives and their consequences are incomplete
66
Facts and information on action alternatives and their consequences are incomplete
Risk environments
67
Uncertain environment
Few facts and information are so poor that managers are unable even to assign probabilities to the likely outcomes of alternatives
68
Few facts and information are so poor that managers are unable even to assign probabilities to the likely outcomes of alternatives
Uncertain environment
69
Decision-making process
AT ALL STEPS - CHECK ETHICAL REASONING
1. Identify and define the problem
2. Generate and evaluate alternative solutions
3. Choose a preferred course of action
4. Implement the decisions
5. Evaluate results
70
Identify and define the problem
* Problem cannot be too broad or narrow
* Cannot focus on symptoms instead of causes
* Cannot choose the wrong problem at a particular point in time
71
Generate and evaluate alternative solutions
Avoid abandoning the search for alternatives and evaluating of their consequences too quickly
72
Choose a preferred course of action
* Classical decision model
* Behavioral decision model
73
Classical decision model
Manager acting rationally
(Optimizing decisions)
74
Absolute best solutions to the problem
Optimizing decisions
75
Optimizing decisions
Absolute best solutions to the problem
76
Behavioral decision model
People act with only partial knowledge about the available action alternatives and their consequences
(Satisficing decisions, bounded rationality)
77
Satisficing decisions
Choosing the first satisfactory alternative solution that comes to mind
78
Choosing the first satisfactory alternative solution that comes to mind
Satisficing decisions
79
Bounded rationality
Managerial decisions are rational only within the boundaries set by the available information and known alternatives, both are incomplete
80
Managerial decisions are rational only within the boundaries set by the available information and known alternatives, both are incomplete
Bounded rationality
81
Biggest problem in implementing the decisions
Lack-of-participation error
82
At all steps of decision-making process
Ethical reasoning
83
Heuristics
Strategies for simplifying decision-making
84
Strategies for simplifying decision-making
Heuristics
85
Framing error
Managers evaluate and resolve problems according to the context in which it is perceived (positively/negatively)
86
Managers evaluate and resolve problems according to the context in which it is perceived (positively/negatively)
Framing error
87
Availability bias
People access a current event or situation by using information that is “readily available” from memory
88
People access a current event or situation by using information that is “readily available” from memory
Availability bias
89
Representative bias
People access the likelihood of something happening based on it similarity to a stereotyped set of occurrences
90
People access the likelihood of something happening based on it similarity to a stereotyped set of occurrences
Representative bias
91
Anchoring and adjustment bias
Decisions are influenced by inappropriate deference to previous value or starting point
92
Decisions are influenced by inappropriate deference to previous value or starting point
Anchoring and adjustment bias
93
Confirmation error
Notice, accept, and seek out only information that confirms or is consistent with a decision made
94
Notice, accept, and seek out only information that confirms or is consistent with a decision made
Confirmation error
95
Escalating commitment
Deciding to increase effort and perhaps apply more resources to pursue a course of action that is not working
96
Deciding to increase effort and perhaps apply more resources to pursue a course of action that is not working
Escalating commitment
97
Creativity
Novel idea or unique approach to solving problems or exploiting opportunities
98
Novel idea or unique approach to solving problems or exploiting opportunities
Creativity
99
Big-C creativity
When extraordinary things are done by exceptional people
100
When extraordinary things are done by exceptional people
Big-C creativity
101
Little-C creativity
Average people come up with unique ways to deal with daily situations
102
Average people come up with unique ways to deal with daily situations
Little-C creativity
103
Design thinking
Experiencing, ideation, prototyping
104
Experiencing, ideation, prototyping
Design thinking
105
Personal creativity drivers
Task expertise, task motivation, creativity skills
106
Task expertise, task motivation, creativity skills
Personal creativity drivers
107
Situational creativity drivers
Task creativity skills, management support, organizational culture
108
Task creativity skills, management support, organizational culture
Situational creativity drivers
109
Integrative thinking
Process that seeks to understand the tension between two opposing ideas from which creative solutions can emerge
110
Process that seeks to understand the tension between two opposing ideas from which creative solutions can emerge
Integrative thinking
111
Core principles
Metacognition, empathy, creativity
112
Metacognition, empathy, creativity
Core principles
113
Essential stage of integrative thinking
1. Articulate the models
2. Examine the models
3. Explore new possibilities
4. Assess prototypes
