BUMG1110-Flashcard-Week 5

Front

What is the role of a manager as a decision maker?

Back

To illustrate the decision-making process and make choices from alternatives.

Front

What is decision-making?

Back

Making a choice from two or more alternatives.

Front

What are the steps in the decision-making process?

Back

1. Identifying a problem and decision criteria. 2. Developing, analyzing, and selecting an alternative. 3. Implementing the selected alternative. 4. Evaluating the decision’s effectiveness.

Front

What are structured problems?

Back

Problems that are familiar, straightforward, and clear with respect to information needs.

Front

What are programmed decisions?

Back

Routine, virtually automatic decision making that follows established rules or guidelines.

Front

What are unstructured problems?

Back

Difficulties introduced to an organization when facing unusual situations with unique solutions.

Front

What are non-programmed decisions?

Back

Non-routine decisions made in response to unusual or novel situations.

Front

What is intuition in decision making?

Back

Feelings, beliefs, and hunches that come readily to mind, leading to on-the-spot decisions.

Front

What is the first step in the decision-making process?

Back

Identification of a problem.

Front

What characterizes a problem?

Back

A discrepancy between an existing and desired state of affairs.