Unit 3 - 1.6 Factors that affect quality of decision making

Which factor that improves the quality of decision-making finds the right balance of too little and too much information?

• Access to relevant information

• Access to decision-making tools

• Availability of finance

• Key personnel

• Training of managers in decision-making skills

Select all the challenges of access to relevant information:

• It is sometimes too difficult to obtain information

• Too much information can be overwhelming

• Too much information can introduce inaccuracies

• None of the answers

Multi-voting and decision trees are examples of

• Decision-making tools

• Consultation

• Finance

• Power differentials

• Key personnel

True or False. Decision-making tools can help to increase the speed of decisions and improve the effectiveness and quality of decisions.

• True

• False

True or False. The more funds a business has access to --> the less options can be adopted.

• True

• False

Fill in the blank. Staff with knowledge, skills, and experience help to ________ the likelihood of a successful outcome.

• Increase

• Decrease

• Equilibriate

• None of the answers

Fill in the blank. If managers are familiar with the decision-making process, then a business is more likely to adopt a __________ approach to solving problems and finding solutions

• Systematic

• Chaotic

• Organic

• Randomised

• None of the answers

This occurs when people with power are more likely to pay attention to information that confirms their beliefs and to favour decisions that appear to benefit only those in power.

• Power differentials and potential for bias

• Consultation

• Training of managers in decision-making skills

• Key personnel

• Access to relevant information

Which factor that improves the quality of decision-making seeks advice and expertise from outside companies?

• Access to relevant information

• Access to decision-making tools

• Consultation

• Key personnel

• Training of managers in decision-making skills

Select all the factors that affect the quality of decision-making

• Access to relevant information

• Consultation

• Availability of finance

• Key personnel

• Power differentials and potential for bias