Chaper 6: Managerial Decision Making

Question 0

Decision

Answer 0

A choice made from available alternatives

Question 1

Decision making

Answer 1

The process of identifying opportunities

Question 2

Programmed decisions

Answer 2

Recurring problems

Apply rule

Question 3

Nonprogrammed decisions

Answer 3

Unique situations
Poorly defined
Unstructured
Important consequences

Question 4

Certainty

Answer 4

Situating in which all available information is available

Question 5

Risk

Answer 5

Future outcomes associated with an alternative are subject to chance

Question 6

Uncertainty

Answer 6

Depends on the amount and value of information available

Question 7

Ambiguity

Answer 7

Making decisions in difficult situations. Goals and the problem are unclear

Question 8

Wicked decisions

Answer 8

Involve conflict over goals and have changing circumstances, fuzzy information, and unclear links. There is often no right answer

Question 9

Bounded rationality

Answer 9

People have limits or boundaries on how rational they can be

Question 10

Satisficing

Answer 10

Decision makers choose the first solution that satisfies the minimal decision criteria

Question 11

Intuition

Answer 11

Quick apprehension of situation based on practice and experience

Question 12

Coalition building

Answer 12

Informal alliance to support specific goal. Without a coalition, powerful groups can derail the decision-making process.

Question 13

Recognition of decision requirement

Answer 13

Step 1 in decision making is to identify the problem or opportunity

Question 14

Diagnosis and analysis

Answer 14

Step 2 is to analyze underlying causal factors

Question 15

Develop alternatives

Answer 15

Step 3 is to define feasible alternatives

Question 16

Selection of desired alternative

Answer 16

Step 4 is to select the alternative with most desirable outcome

Question 17

Implementation of chosen alternative

Answer 17

Step 5 is the use of managerial, administrative, and persuasive abilities to execute chosen alternatives

Question 18

Evaluation and feedback

Answer 18

Step 6 is to gather information about the effectiveness

Question 19

Directive style

Answer 19

People who prefer simple, clear-cut solutions to problems

Question 20

Analytical style

Answer 20

Managers prefer complex solutions based on a lot of data

Question 21

Conceptual style

Answer 21

Managers like a broad amount of information

Question 22

Behavioral style

Answer 22

Managers with a deep concern for others