TEST 1 CHAPTER 5 PART 3 Flashcards

1
Q

A group pressure phenomenon that increases the risk of the group making flawed decisions by leading to reduced mental efficiency, reality testing, and moral
judgment

EXAMPLE: Challenger exploded 73 seconds after liftoff, killing all seven astronauts aboard

A

Groupthink

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Step 1 of rational decision making model?

A

Identify the problem

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Step 2 of rational decision making model?

A

Establish decisions criteria

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Step 3 of rational decision making model?

A

Weigh decision criteria

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Step 4 of rational decision making model?

A

Generate alternatives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Step 5 of rational decision making model?

A

Evaluate the alternatives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Step 6 of rational decision making model?

A

Choose the best alternative

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Step 7 of rational decision making model?

A

Implement the decision

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Step 8 of rational decision making model?

A

Evaluate the decision

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Firms creating the same economic value as

their rivals.

A

Competitive parity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly