Ch 9 Decison Making And Creativity

Question 1

Programmed decision

Answer 1

Implement soultions that have already been determined by past experience of the problem at hand

Question 2

Non-programmed decisions

Answer 2

Created to deal specifically with problems at hand

Question 3

Crisis decision

Answer 3

Unexpected problem that leads to disaster if not resolved quickly and appropriately

Question 4

Certain environment

Answer 4

Provide full info on expected results for decision making alternatives

Question 5

Risk environment

Answer 5

Provides probability regarding expected results for decision making alternatives

Question 6

Uncertain environment

Answer 6

Provides no info to predict expected results

Question 7

Classical decision making model

Answer 7

Views decision makers as acting in world of complete certainty

Question 8

Behavioral decision making model

Answer 8

Views decision makers as acting only in terms of what they perceive about give situation

Question 9

Heuristics

Answer 9

Rule of thumb for making decisions

Question 10

Availability heuristics

Answer 10

Bases decisions on recent events relating to situation at hand

Question 11

Representativeness heuristics

Answer 11

Bases on similarities btw situation at hand and stereotypes of similar occurrences

Question 12

Anchoring and adjustment heuristics

Answer 12

Bases in incremental adjustments to initial value determined by historical precedent or some reference point

Question 13

Confirmation error

Answer 13

Tendency to seek confirmation for what is already thought to be true and not search for disconfirm inch info

Question 14

Hindsight trap

Answer 14

Overestimate degree which an event that has already taken place could have been predicted

Question 15

Decision making

Answer 15

Process of choosing course of action for dealing with problem or opportunity

Question 16

Escalating commitment

Answer 16

Form of decision entrapment leads people to do things that facts of situation don’t justify