Chapter 6

Question 1

Managers are often referred as…

Answer 1

Decision makers

Question 2

Choice made from available alternatives

Answer 2

Decision

Question 3

The process of identifying problems and opportunities and being able to resolve them.

Answer 3

Decision making

Question 4

Decision made in order to a situation that occurs often enough to enable decision rules.

Answer 4

Programmed decision

Question 5

Decision made in order to a situation that is unique, poorly defined and largely unstructured.

Answer 5

Nonprogrammed decision

Question 6

It is the situation in which all the information the decision maker needs is available

Answer 6

Certainity

Question 7

A situation in which the future outcomes associated with each alternative are subject to change.

Answer 7

Risk

Question 8

It means that managers know which goals they need to achieve, but information about the alternatives and future events is incomplete.

Answer 8

Uncertainity

Question 9

Condition in which the goals to be achieved or the problem to b solved are unclear, alternatives are difficult to define, and information about outcomes are unavailable.

Answer 9

Ambiguity

Question 10

Decision making model based on the assumtion that managers should make logical decisions that will be for the best of the organization’s economic interests.

Answer 10

Classical model

Question 11

Approach from the classical decision making model, which defines how a decision maker should make decisions, an provides guidelines for reaching an ideal outcome.

Answer 11

Normative

Question 12

Decision making model that describes how managers actually make decisions in situations characterized by nonprogrammed decisions, uncertainity, and ambiguity.

Answer 12

Administrative model

Question 13

Approach from the administrative decision making model that describes how managers actually make decisions instead of dictating how they should.

Answer 13

Descriptive

Question 14

The concpet that people have time and cognitive ability to process only a limited amount of information on which to base decisions.

Answer 14

Bounded rationality

Question 15

When managers choose the first solution alternative that satisfies a minimal decision criteria, regardless of whether better solutions are presumed to exist.

Answer 15

Satisficing

Question 16

The immediate comprehension of a decision situation based on past experience but wothout conscious thought.

Answer 16

Intuition

Question 17

Informal alliance among managers who support a specific goal.

Answer 17

Coalition

Question 18

A situation in which organizational accomplishments have failed to meet established goals.

Answer 18

Problems

Question 19

A situation in which managers see potential organizational accomplishments that exceed current goals.

Answer 19

Opporunity

Question 20

The step in the decision making process in which managers analyze underlying causal factors associated with the decision situation.

Answer 20

Diagnosis

Question 21

The willingness to undertake risk with the opportunity of gaining an increased payoff.

Answer 21

Risk propensity

Question 22

Step in the decision making process that consists on translating the chosen alternative into action.

Answer 22

Implementation

Question 23

Differences among people with respect how they percieve problems and make decisions.

Answer 23

Decision styles

Question 24

Technique that uses a group to spontaneously suggest a broad range of alternatives for decision making.

Answer 24

Brainstorming

Question 25

Technique that brings people together in an interactive group over a network to suggest alternatives.

Answer 25

Electronic Brainstorming

Question 26

Technique that uses an individual to challenge the assumptions made by a group to prevent premature consensus.

Answer 26

Devil’s advocate

Question 27

Technique in which people are assigned to express competing points to express different pints of view.

Answer 27

Point-Counterpoint

Question 28

Tendency of people in groups to suppress contrary opinions.

Answer 28

Groupthink

Question 29

Continue to invest money and resources in a failing decision.

Answer 29

Escalating commitment

Question 30

Hardware, software, telecommunications, database management, and other technologies used to store, process, and distribute information.

Answer 30

Information technology (IT)

Question 31

The process of systematically gathering knowledge, making it widely available throughout the organization, and fostering a culture of learing.

Answer 31

Knowledge management

Question 32

Raw unsummarized, unanalyzed facts and figures.

Answer 32

Data

Question 33

Data that has been converted into a meaningful and useful context for the receiver.

Answer 33

Information

Question 34

Conclusion drawin from information after it is linked to other information and compared to whats already known.

Answer 34

Knowledge

Question 35

A single point of access fr employees to multiple sources of information that provide personalized access to the corporate internet.

Answer 35

Knowledge Management portal

Question 36

A website that allows anyone with access, to edit content through a simple browser based interface.

Answer 36

Wiki

Question 37

Software that analyzes data from multiple sources and extracts elements that might be significant.

Answer 37

Business Intelligence Software

Question 38

A computer based system that provides information and support for effective managerial decision making.

Answer 38

Management Information System (MIS)

Question 39

Networked information system that collects, processes and provides information about an organization’s entire enterprise.

Answer 39

Enterprise resource planning (ERP) system

Question 40

Web log that allows individuals to post opinions and ideas.

Answer 40

Blog

Question 41

Online interaction in a community formatwhere people share personal information and photos, produce and share all sorts of information and opinions, or unify activists and raise funds.

Answer 41

Social networking

Question 42

File sharing that allows PC’s to communicate directly with one another over the internet, bypassing central databases, servers, etc.

Answer 42

Peer-to-peer file sharing

Question 43

Any business that takes place in any digital processes over a computer network rather than in physical space.

Answer 43

E-business

Question 44

Business exchanges or transactions that occur electronical.

Answer 44

E-commerce

Question 45

An internal communications system that uses the technology standards of the internet but is accesible only by people within the organization.

Answer 45

Intranet

Question 46

An external communications system that uses the internet and is shared by two or more rganizations.

Answer 46

Extranet

Question 47

A systematic attempt to increase sales through adding new target groups.

Answer 47

Market expansion