Decision Making

Managers make decisions rationally but are limited by their ability to process information. They accept solutions that are satisfactory and sufficient or “good enough”. This decision making approach is called as?

• Rationality

• Bounded Rationality

• Intuitive Decision Making

• The Role of Evidence-Based Management

The "Type of Problem" characteristic of "Programmed Decisions" is?

• Structured problem

• Unstructured problem

The "Goals" characteristic of "Programmed Decisions" is?

• Vague

• Clear and Specific

The "Managerial Level" characteristic of "Programmed Decisions" is?

• Upper Levels

• Lower Levels

The "Information" characteristic of "NonProgrammed Decisions" is?

• Ambiguous or incomplete

• Readily Available

Decision style model with greater tolerance for ambiguity and seek for rationality is called as?

• Analytic style

• Directive style

• Conceptual style

• Behavioral style

Decision style model with lower tolerance for ambiguity and depends on intuition is called as?

• Analytic style

• Directive style

• Conceptual style

• Behavioral style

Decision style model with low tolerance for ambiguity and seek for rationality is called as?

• Analytic style

• Directive style

• Conceptual style

• Behavioral style

Decision makers tend to think they know more than they do or hold unrealistically positive views of themselves and their performance. Which category of bias does this fall into?

• Immediate gratification bias

• Overconfidence bias

• Sunk cost bias

• Framing bias

• Availability bias

Decision makers tend to want immediate rewards and to avoid immediate costs. Which category of bias does this fall into?

• Immediate gratification bias

• Overconfidence bias

• Sunk cost bias

• Framing bias

• Availability bias