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Worksheets# 2 : Advanced Strategic Management
Total questions: 25
Worksheet time: 25mins
1. Which is the third step in the problem solving process?
A. Define problem
B. Identify decision criteria
C. Develop alternatives
D. Implement decisions
A manager must _________ in order to determine whether any errors occurred or has been made.
A. evaluate decision
B. develop alternatives
C. implement decisions
D. define the problem
The benefits of employee involvement are:
A lower number of generated solutions and its quality
Better evaluation of alternatives, decision-making quality, and commitment
Minimized workplace conflict
Better team dynamics and faster decision-making process
Outcomes of employee involvement are:
Better problem identification and more choices generated
More likely to select better alternatives
A stronger commitment to the decision
All of the above
A ________ exists when there is a gap between a desired state (what managers want) and an existing state (the situation that the managers are facing).
service gap
benchmark
condition of uncertainty
problem
Which of the following is one of the six steps in the rational decision-making process?
choose a minimally acceptable alternative solution
evaluate the effectiveness of the decision
weight the criteria
introduce the decision to those who will be impacted by it
________ occurs when managers choose the best alternative.
Maximising
Sacrificing
Satisficing
Availability bias
What is decision making?
The process of thinking about the activities required to achieve a goal
The ability to solve problems
The process of making choices among alternatives
The tendency to generate or recognise ideas
What does the first step of the rational decision making process (identify the problem) entail?
Create a solution to the problem
Weight the criteria
Define the problem
Analyse and evaluate the problem
Employee involvement is also called:
A participative management
A democracy
An ability to create
A verification process
Which of the following statements is true about thinking, decision making and problem solving?
Decision making is a part of problem solving - and both decision making and problem solving are examples of thinking.
Decision making is an aspect of thinking - but not part of problem solving.
Problem solving is a part of decision making - but only decision making is a true example of thinking.
Thinking, decision making and problem solving are three distinct cognitive processes with no overlap in what they do.
Which of the following is an assumption of the rational model about decision making?
people can recognize all possible alternative solutions to the problem
people can be aware of all possible consequences of each alternative
people can select the alternative that maximizes their objectives
people are able to evaluate the consequences against their value systems
all answers are correct
The following is one of the 5 assumptions of the bounded rationality theory: “Decisions will always be based on an incomplete and, to some degree, inadequate comprehension of the true nature of the problem being faced”
True
False
According to Herbert Simon, we always optimize and rarely satisfice.
True
False
Finding a radio station to listen to in your car or hiring someone are examples of ...
satisficing
optimizing
maximizing
all answers are correct
What is the main benefits of group decision-making?
groups have the potential to generate and evaluate more ideas and once a decision is made, acceptance will be easier
groupthink
risky shift
escalation of commitment
Which of the following improves group decision making?
brainstorming
the nominal group technique
the Delphi technique
devil’s advocacy
all answers are correct here
Which step is the most important step in the decision making process?
Identifying the decision that needs to be made
Analyzing the situation
Making the decision
Reviewing the decision which was made
Which of the following is NOT a step in the decision making process?
Seeking help every time
Gathering information
Defining the problem
Taking action
Billie:
Young and motivated to meet companies short term goals
Shy and quiet at times
Thoughtful and engaged with employees to accomplish day to day tasks
Maximizer
Satisficer
Strategy must be aligned to the organizations?
Mission
Vision
Values
Organizational Structure
Strategic decisions are based on what managers_____________, rather than on what they__________.
.Know; forecast
React to; anticipate
Forecast; know
Compromise with; analyze
