Question 1

A policy is a series of interrelated sequential steps that a manager can use for responding to a structured problem.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is an example of a policy?

Accepted Answer

A)  Before going on a leave of absence,fill up the application form available on the company's online leave management system.All applications will be approved/rejected within two days by the employee's immediate supervisor.
B)  Employees working with power tools must wear safety glasses at all times.
C)  Smoking and the consumption of alcohol are strictly prohibited inside the work premises.
D)  We are an equal opportunity employer with a diverse workforce.We do not discriminate against employees and applicants on the basis of sex,race,color,religion,national origin,age,disability,marital status,sexual orientation or veteran status.

Question 3

In a short essay,explain the decision errors and biases that managers make.Give simple examples for each to illustrate your answers.

Accepted Answer

a.When decision makers tend to think the...

Question 4

A programmed decision is a repetitive decision that can be handled by a routine approach.

Accepted Answer

A) True 
 B)False

Question 5

Sophie is in charge of recruitment at her company.During a particular interview,the first thing Sophie noticed about the applicant was that he was improperly dressed.Though the candidate possessed the necessary qualifications and effectively answered all her questions,Sophie rejected him.This is an example of the ________.

Accepted Answer

A)  self-serving bias
B)  selective perception bias
C)  representation bias
D)  hindsight bias

Question 6

Risk is a condition in which a decision maker has neither certainty nor reasonable probability estimates.

Accepted Answer

A) True 
 B)False

Question 7

Fiona Lui is general manager of Westcoast Trucks, a medium-sized hauling service located in Vancouver, B.C. She is responsible for scheduling trucks, initiating new routes, and staffing both existing and new routes. She is currently struggling to find more information about the profitability of existing and future truck routes.
-If Fiona wishes to minimize her regret about the truck route decision,she should follow a ________ strategy.

Accepted Answer

A)  multimax
B)  minimin
C)  minimax
D)  maximax

Question 8

"Before a health claim may be paid,the following steps must be taken" is an example of a ________.

Accepted Answer

A)  rule
B)  procedure
C)  policy
D)  guideline

Question 9

A procedure is an explicit statement that tells a manager what he or she can or cannot do.

Accepted Answer

A) True 
 B)False

Question 10

An individual making a "maximin" choice has what type of psychological orientation toward uncertain decision making?

Accepted Answer

A)  optimist
B)  realist
C)  pessimist
D)  opportunist

Question 11

The process of selecting decision criteria is accomplished by ________.

Accepted Answer

A)  massaging the data that will support a given decision
B)  determining what is relevant in making the decision
C)  examining the differences between potential opportunities
D)  identifying a discrepancy between an existing and a desired state of affairs

Question 12

When managers make decisions that are rational but limited by their ability to process the information,they are exhibiting the concept of ________.

Accepted Answer

A)  cognitive decision making
B)  bounded rationality
C)  escalation of commitment
D)  intuitive decision making

Question 13

Relying on "gut feeling" over cognitive problem solving in decision making is a phenomenon called ________.

Accepted Answer

A)  hindsight bias
B)  escalation of commitment
C)  intuition
D)  overconfidence bias

Question 14

A procedure ________.

Accepted Answer

A)  is an explicit statement detailing exactly how to deal with a decision
B)  is a series of interrelated sequential steps to respond to a structured problem
C)  is a set of guidelines that channel a manager's thinking in dealing with a problem
D)  is a series of steps designed to implement decisions for unique and nonrecurring problems

Question 15

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

Accepted Answer

A) True 
 B)False

Question 16

In the purchase of a car,the assessment of factors such as speed,fuel efficiency,and price occurs at which step of the decision-making process?

Accepted Answer

A)  identify a problem
B)  analyze alternatives
C)  identify decision criteria
D)  develop alternatives

Question 17

Which of the following is a habit of successful highly reliable organizations (HROs) ?

Accepted Answer

A)  They are preoccupied with their successes.
B)  They defer decisions to the experts in upper management.
C)  They let unexpected circumstances provide the solution.
D)  They embrace simplicity.

Question 18

Escalation of commitment refers to ________.

Accepted Answer

A)  commitment to a bad decision due to unwillingness to go against the opinion of the majority
B)  an increased commitment to a previous decision despite evidence that it may have been wrong
C)  the strengthening of commitment to a particular course of action due to greater motivation by others
D)  greater commitment to a decision because of one's belief that it is "the right thing to do"

Question 19

"No smoking allowed" is an example of a ________.

Accepted Answer

A)  rule
B)  precedent
C)  policy
D)  guideline

Question 20

An important element in making decisions using evidence-based management (EBMgt) is to consider ________.

Accepted Answer

A)  using the rational decision-making process
B)  applying design thinking to problems
C)  opinions,preferences and values of all stakeholders
D)  alternatives that are good enough for the situation

Exam 8: Decision Making

An individual making a "maximin" choice has what type of psychological orientation toward uncertain decision making?

Correct Answer
verified

A procedure ________.

Correct Answer
verified

A procedure is an explicit statement that tells a manager what he or she can or cannot do.

Correct Answer
verified

In a short essay,explain the decision errors and biases that managers make.Give simple examples for each to illustrate your answers.

Correct Answer
verified
a.When decision makers tend to think the...
View Answer

When managers make decisions that are rational but limited by their ability to process the information,they are exhibiting the concept of ________.

Correct Answer
verified

In the purchase of a car,the assessment of factors such as speed,fuel efficiency,and price occurs at which step of the decision-making process?

Correct Answer
verified

Correct Answer
verified

The process of selecting decision criteria is accomplished by ________.

Correct Answer
verified

Escalation of commitment refers to ________.

Correct Answer
verified

A policy is a series of interrelated sequential steps that a manager can use for responding to a structured problem.

Correct Answer
verified

Which of the following is a habit of successful highly reliable organizations (HROs) ?

Correct Answer
verified

Risk is a condition in which a decision maker has neither certainty nor reasonable probability estimates.

Correct Answer
verified

Relying on "gut feeling" over cognitive problem solving in decision making is a phenomenon called ________.

Correct Answer
verified

A programmed decision is a repetitive decision that can be handled by a routine approach.

Correct Answer
verified

Which of the following is an example of a policy?

Correct Answer
verified

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

Correct Answer
verified

An important element in making decisions using evidence-based management (EBMgt) is to consider ________.

Correct Answer
verified

"Before a health claim may be paid,the following steps must be taken" is an example of a ________.

Correct Answer
verified

Correct Answer
verified

"No smoking allowed" is an example of a ________.

Correct Answer
verified

Exam 8: Decision Making

An individual making a "maximin" choice has what type of psychological orientation toward uncertain decision making?

Correct AnswerverifiedShow Answer

A procedure ________.

Correct AnswerverifiedShow Answer

A procedure is an explicit statement that tells a manager what he or she can or cannot do.

Correct AnswerverifiedShow Answer

In a short essay,explain the decision errors and biases that managers make.Give simple examples for each to illustrate your answers.

Correct Answerverifieda.When decision makers tend to think the...View AnswerShow Answer

When managers make decisions that are rational but limited by their ability to process the information,they are exhibiting the concept of ________.

Correct AnswerverifiedShow Answer

In the purchase of a car,the assessment of factors such as speed,fuel efficiency,and price occurs at which step of the decision-making process?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The process of selecting decision criteria is accomplished by ________.

Correct AnswerverifiedShow Answer

Escalation of commitment refers to ________.

Correct AnswerverifiedShow Answer

A policy is a series of interrelated sequential steps that a manager can use for responding to a structured problem.

Correct AnswerverifiedShow Answer

Which of the following is a habit of successful highly reliable organizations (HROs) ?

Correct AnswerverifiedShow Answer

Risk is a condition in which a decision maker has neither certainty nor reasonable probability estimates.

Correct AnswerverifiedShow Answer

Relying on "gut feeling" over cognitive problem solving in decision making is a phenomenon called ________.

Correct AnswerverifiedShow Answer

A programmed decision is a repetitive decision that can be handled by a routine approach.

Correct AnswerverifiedShow Answer

Which of the following is an example of a policy?

Correct AnswerverifiedShow Answer

One assumption of rational decision making is that the decision maker is not aware of all possible alternatives and consequences.

Correct AnswerverifiedShow Answer

An important element in making decisions using evidence-based management (EBMgt) is to consider ________.

Correct AnswerverifiedShow Answer

"Before a health claim may be paid,the following steps must be taken" is an example of a ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

"No smoking allowed" is an example of a ________.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a.When decision makers tend to think the...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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