Topic 6_Effective Decision Making

 After identifying a problem, the next step in the decision-making process is ________.

To determine the ________, a manager must determine what is relevant or important to resolving a problem.

• A) bounded rationality of a decision

• B) escalation of commitment

• C) cost of implementation

• D) decision criteria

Belinda wants to introduce a new model to the product line. Three models are being developed. Belinda can choose only one. She has decided to focus on target market size, production costs, and net profits. These are Belinda's ________.

• A) alternatives

• B) criterion weights

• C) decision criteria

• D) problems

After identifying the decision criteria that are important or relevant to resolving a problem, the next step in the decision-making process is ________.

• A) allocating weights to the criteria

• B) analyzing the alternatives to solving the problem

• C) reducing the number of criteria through the process of elimination

• D) implementing the alternative

Bryan must select a new supplier for lighting fixtures for his company's mobile homes. He has decided quality is more important than price but price is more important than lead times. Bryan will use these priorities to ________.

• A) analyze alternatives

• B) set his decision criteria

• C) allocate weights to the criteria

• D) develop alternatives

Carla discovered that the supplier with the highest quality also had the longest lead time. The supplier with the best lead time had the highest price. To help Carla make her decision, she should ________.

• A) order a small quantity from each supplier for comparison

• B) rely on customer reviews to guide her decision

• C) multiply her ratings for each criteria by the weight for the criteria then sum the scores

• D) check with the Better Business Bureau for customer complaints

The final step in the decision-making process is to ________.

• A) determine the criteria for the next decision

• B) analyze the process of allocating weights to the decision criteria

• C) evaluate the outcome of the decision

• D) implement the chosen alternative

Which of the following is an aspect of intuition?

• A) Experience-based decisions

• B) Quality-initiated decisions

• C) Science-based decisions

• D) Programmed decisions

Tina has called together her management team to review information about customer satisfaction gathered by an external research company. Tina is engaging in ________.

• A) perfect rationality

• B) bounded rationality

• C) evidence-based management

• D) relationship management

The ________ occurs when decision makers select and highlight certain aspects of a situation while excluding others.

• A) framing bias

• B) availability bias

• C) representation bias

• D) confirmation bias