MGMT Final Ch. 4

Question 1

Problem

Answer 1

Exists whenever objectives are not being meant

Question 2

Opportunities

Answer 2

A set of circumstances that makes it possible to do something

Question 3

Problem solving

Answer 3

The process of taking corrective action to meet objectives

Question 4

Decision Making

Answer 4

The process of selecting a course of action that will solve a problem

Question 5

Reactive Managers

Answer 5

React to situations they happen, no planning in advance

Question 6

Proactive Managers

Answer 6

Emphasizes strategic planning and risk management rather than taking a reactive approach to situations and business goals

Question 7

Interactive Managers

Answer 7

Keep open communication between all organization levels

Question 8

Decision Making Process

Answer 8

1. Classify and define the problem/opportunity
2. Set objectives and criteria
3. Generate creative and innovative alternatives
4. Analyze alternatives and select the most feasible
5. Plan and implement the decision
6. Control the decision

Question 9

Fighting Symptoms

Answer 9

Fighting symptoms: not trying to solve the ultimate problem more like side quest instead

Question 10

Eliminating Problem Cause

Answer 10

Immediately fights the source of the problem

Question 11

Programmed Problems

Answer 11

Arise in recurring or routine situation

Question 12

Non-Programmed Problems

Answer 12

Significant decisions that arise in non recurring and non routine situations

Question 13

Decision-Making Conditions- Certainty

Answer 13

You know the outcome of each alternative in advance, so you can usually take quick action

Question 14

Decision-Making Conditions- Uncertainty

Answer 14

Lack of information or knowledge makes the outcome of each alternative unpredictable, so you cannot accurately determine probabilities

Question 15

Decision-Making Conditions- Risk

Answer 15

The possibility that the occurrence of an event will adversely affect the achievement of the organization objectives

Question 16

Must Criteria

Answer 16

The requirements that an alternative must meet to be selected

Question 17

Want Criteria

Answer 17

Criteria are desirable but are not necessary for the alternative to be selected

Question 18

Develop Alternatives

Answer 18

Define the decision that is faced and identify the values of the decision and then use those values to create relevant alternatives

Question 19

Analyze/Evaluate Alternatives

Answer 19

Using information
Using technology
Using groups: creating ideas in teams vs. individually

Question 20

Nominal Grouping

Answer 20

Listing (each participant generates ideas in writing)

Recording (each member presents one idea at a time, and the leader records these ideas where everyone can see them)

Clarification (alternatives are clarified through a guided discussion, and any additional ideas are listed)

Ranking(each employee rank orders the ideas and identifies what they see as the top three)

Discussion (rankings are discussed for clarification, not persuasion, should explain their choices and their reasons for making them)

Vote (a secret vote is taken to select the alternative)

Question 21

Plan and implement the decision

Answer 21

Make a plan of action for implementing the decision and make sure to clearly communicate

Question 22

Evaluate the effectiveness of the decision

Answer 22

Learn to admit if the decision is not working and track how the implementation is going

Question 23

Techniques that foster creativity and innovation

Answer 23

Brainstorming, Synectics (role playing, fantasizing), nominal grouping (structured voting), consensus mapping (group agreement), Delphi technique (expert panel)

Question 24

Creative decision making model

Answer 24

Preparation (identify problem through other’s opinions and generate new ideas)

Incubation and illumination (take a break and gain insight into the solution through an epiphany)

Evaluation (deliberate through the devil’s advocate approach)

Question 25

Rational decision-making model

Answer 25

Taking time to weighing a wide range of options before choosing

Question 26

Bounded rationality

Answer 26

Rather be fast than thorough

Question 27

Intuitive decision-making model

Answer 27

Expert decisions scan the environment for cues to recognize patterns