MGT 300 EXAM 2 || QUESTIONS WITH ANSWERS 100% CORRECT!!
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Course
MGT 300
Institution
MGT 300
decision making correct answers the process by which managers respond to opportunities and threats by analyzing options and making determinations about specific organizational goals and course of action. The essence of management.
programmed decision making correct answers Routine, virtually aut...
MGT 300 EXAM 2 || QUESTIONS WITH ANSWERS
100% CORRECT!!
decision making correct answers the process by which managers respond to opportunities and
threats by analyzing options and making determinations about specific organizational goals
and course of action. The essence of management.
programmed decision making correct answers Routine, virtually automatic decision making
that follows established rules or guidelines.
non programmed decision making correct answers non-routine decision making that occurs in
response to unusual, unpredictable opportunities and threats.
Intuition correct answers feelings, beliefs, and hunches that come readily to mind and require
little effort and info gathering and result in on-the-spot decisions.
reasoned judgment correct answers A decision that requires time and effort and results from
careful information gathering, generation of alternatives, and evaluation of alternatives.
optimum decision correct answers The most appropriate decision in light of what managers
believe to be the most desirable future consequences for the organization.
administrative model correct answers An approach to decision making that explains why
decision making is inherently uncertain and risky and why managers usually make
satisfactory rather than optimum decisions. Based on: bounded rationality, incomplete
information, satisficing.
bounded rationality correct answers Cognitive limitations that constrain one's ability to
interpret, process, and act on information.
risk correct answers The degree of probability that the possible outcomes of a particular
course of action will occur.
uncertainty correct answers unpredictability
ambiguous information correct answers Information that can be interpreted in multiple and
often conflicting ways.
satisficing correct answers Searching for and choosing an acceptable, or satisfactory,
response to problems and opportunities, rather than trying to make the best decision.
heuristics correct answers rules of thumb that simplify a problem, allowing one to solve
problems quickly and easily.
systematic errors correct answers Errors that people make over and over and that result in
poor decision making
prior-hypothesis bias correct answers A cognitive bias resulting from the tendency to base
decisions on strong prior beliefs even if evidence shows that those beliefs are wrong.
, representative bias correct answers a cognitive bias resulting from the tendency to generalize
inappropriately from a small sample or from a single vivid event or episode.
illusion of control correct answers A source of cognitive bias resulting from the tendency to
overestimate one's own ability to control activities and events.
escalating commitment correct answers continuing to invest time and resources in a failing
decision
groupthink correct answers tendency for group members to think alike with certainty of
correctness, biased perceptions of outgroup members, and generally defective decision-
making processes
dialectical inquiry correct answers critical analysis of two preferred alternatives in order to
find an even better alternative for the organization to adopt
organizational learning correct answers The process through which managers seek to improve
employees' desire and ability to understand and manage the organization and its task
environment.
learning organization correct answers An organization in which managers try to maximize the
ability of individuals and groups to think and behave creatively and thus maximize the
potential for organizational learning to take place.
creativity correct answers A decision maker's ability to discover original and novel ideas that
lead to feasible alternative courses of action.
production blocking correct answers A loss of productivity in brainstorming sessions due to
the unstructured nature of brainstorming.
nominal group technique correct answers A decision-making technique in which group
members write down ideas and solutions, read their suggestions to the whole group, and
discuss and then rank the alternatives.
delphi technique correct answers A decision-making technique in which group members do
not meet face-to-face but respond in writing to questions posed by the group leader.
entrepreneur correct answers a person who organizes and operates a business or businesses,
taking on greater than normal financial risks in order to do so.
social entrepreneur correct answers An individual who pursues initiatives and opportunities
and mobilizes resources to address social problems and needs in order to improve society and
well-being through creative solutions.
intrapreneur correct answers A manager, scientist, or researcher who works inside an
organization and notices opportunities to develop new or improved products and better ways
to make them.
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