Exam (elaborations)
MGMT310A CH15 Questions with 100% correct answers
- Course
- Institution
MGMT310A CH15 Questions with 100% correct answers
[Show more]
Content preview
MGMT310A CH15Bob Iger, CEO of Walt Disney, engaged in __________________ when he looked at all of the issues facing
Disney after it purchased Lucasfilm and made a choice to shut down the game publisher LucasArts. -
correct answer ✔✔Decision Making
rational decision-making process consists of the following six steps: - correct answer ✔✔"1. Define the
problem.
2. Identify the objectives.
3. Weight the objectives according to their importance.
4. Consider possible courses of action.
5. Rate each course of action on how well it meets each objective.
6. Compute the optimal decision."
Eric may use the preceding decision-making process if he: - correct answer ✔✔Has enough time to
conduct a thorough analysis of the objectives' importance
When a person makes a decision by defining a problem, identifying goals, weighting the importance of
each goal, considering all possible actions, rating each action based on how well it will meet objectives,
and determining an optimal decision, he or she is using a method of decision making based on
_______________________. - correct answer ✔✔The Theory of rational choice
Lynn will find the preceding decision-making process impractical if she _____________________. -
correct answer ✔✔Lacks the information needed to rate the effectiveness of various options
Jim is likely to use a different decision-making process if he __________________. - correct answer
✔✔Is too busy to analyze how effective different actions will be at achieving various objectives
As Roger tries to decide whether to buy or lease warehouse space, he is operating under
______________________ because he does not know which option will be more expensive, and he
needs to sign the papers by the end of the day. - correct answer ✔✔Conditions of bounded rationality
, If a manager is operating under __________________________, he or she has some information about
the goals of the organization and the actions that might be used to accomplish those goals, but no
information about how effective each action would be to achieve those goals. - correct answer
✔✔Conditions of risk
Last Tuesday, five employees at Geologic got together to go to lunch. Because they only had an hour to
eat, they quickly threw out food ideas (Chinese, pizza, hamburgers, and so on) until they found one
restaurant they all agreed on-a Thai restaurant. However, they didn't even consider Indian food, which all
of them would have enjoyed more. What decision-making approach did they use? - correct answer
✔✔Satisficing
A manager's intution is primarily based on __________________. - correct answer ✔✔Past experiences
When choosing classes last term, Sergey used _________________ , selecting the first classes he found
that would fit his schedule, not the best classes given his interest in comparative international studies. -
correct answer ✔✔satisficing
Under ___________________ , in which information is incomplete, managers are likely to use bounded
rationality, satisficing, intuition, and other shortcuts to speed up and simplify decision making. - correct
answer ✔✔Ambiguity
Athena has been working at Taco Town for 15 years. She can't begin to tell you how many customers
she's served, only that she sees more than a hundred people a day. Last week, Athena saw someone
walking into the restaurant and instantly knew that he was going to cause trouble. She didn't think; she
just automatically set off the restaurant's silent alarm, and police cars pulled up just as the customer
pulled out a gun. How did Athena make her decision? - correct answer ✔✔She used intuition.
Intuition is a particularly problematic way to make decisions when operating ___________________. -
correct answer ✔✔In a new enviroment
If Clarita makes a decision based on gut-level feelings without much conscious thought, she is using
______________________. - correct answer ✔✔Intutitive decision making
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller kirus27. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now