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Test your basic knowledge |
Management 101: Decision Making
Start Test
Study First
Subject
:
business-skills
Instructions:
Answer 26 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Understand cultural differences; Know when it's time to call it quits; Use an effective decision-making process; Build an organization that can spot the unexpected and quickly adapt to the changed environment
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2. Criteria that define what's important or relevant to resolving a problem
Nonprogrammed decisions
Decision criteria
Evidence-based management (EBMgt)
Satisfice
3. A situation that a decision maker has neither certainty nor reasonable probability estimates available
Uncertainty
Nonprogrammed decisions
Certainty
Programmed decision
4. Rules of thumb that managers use to simplify decision making
Structured problems
Rational decision making
Decision-making errors and biases
Heuristics
5. A series of sequential steps used to respond to a well-structured problem
Nonlinear thinking style
Procedure
Decision criteria
Evidence-based management (EBMgt)
6. A situation in which the decision maker is able to estimate the likelihood of certain outcomes
Risk
Linear thinking style
Effective decision making in today's world
Nonprogrammed decisions
7. An obstacle that makes it difficult to achieve a desired goal or purpose
Problem
Decision
What is intuition?
Decision-making errors and biases
8. Unique and nonrecurring decisions that require a custom-made solution
Nonprogrammed decisions
Intuitive decision making
Problem
Heuristics
9. Decision making that's rational - but limited (bounded) by an individual's ability to process information
Rule
Bounded rationality
Unstructured problems
Heuristics
10. Decision style characterized by a person's preference for internal sources of information and processing this information with internal insights - feelings and hunches
Effective decision making in today's world
Nonlinear thinking style
Intuitive decision making
Programmed decision
11. A repetitive decision that can be handled by a routine approach
Programmed decision
Unstructured problems
Risk
What is intuition?
12. Accept solutions that are 'good enough'
Structured problems
Intuitive decision making
Decision
Satisfice
13. A choice among two or more alternatives
Unstructured problems
Rule
Decision
Intuitive decision making
14. The systematic use of the best available evidence to improve management practice
Effective decision making in today's world
Policy
Escalation of commitment
Evidence-based management (EBMgt)
15. 1: Identifying a problem; 2: Identifying decision criteria; 3: Allocating weights to the criteria; 4 Developing alternatives; 5 Analyzing alternatives; 6: Selecting an alternative; 7: Implementing the alternative; 8: Evaluating decision effectiveness
Nonprogrammed decisions
Effective decision making in today's world
Decision-making process
Evidence-based management (EBMgt)
16. An increased commitment to a previous decision despite evidence it may have been wrong
Intuitive decision making
Escalation of commitment
Decision
Programmed decision
17. An explicit statement that tells managers what can or cannot be done
Rule
Nonprogrammed decisions
Decision-making process
Decision-making errors and biases
18. Problems that are new or unusual and for which information is ambiguous or incomplete
Structured problems
Nonlinear thinking style
Decision-making process
Unstructured problems
19. A guideline for making decisions
Decision criteria
Escalation of commitment
Policy
Effective decision making in today's world
20. Making decisions on the basis of experience - feelings - and accumulated judgment
Certainty
Escalation of commitment
Structured problems
Intuitive decision making
21. Overconfidence; Immediate gratification; Anchoring effect; Selective perception; Confirmation; Framing; Availability; Representation; Randomness; Sunk costs; Self-serving; Hindsight
Structured problems
Nonprogrammed decisions
Decision-making errors and biases
Bounded rationality
22. Subconscious mental processing; Values or ethics-based decisions; Experience-based decisions; Affect-initiated decisions; Cognitive-based decisions
Uncertainty
Nonlinear thinking style
Structured problems
What is intuition?
23. Decision style characterized by a person's preference for using external data and facts and processing this information through rational - logical thinking
Escalation of commitment
Nonlinear thinking style
Decision
Linear thinking style
24. Describes choices that are logical and consistent and maximize value
Rational decision making
Decision-making errors and biases
Structured problems
Intuitive decision making
25. Straightforward - familiar - and easily defined problems
Structured problems
Effective decision making in today's world
Problem
Unstructured problems
26. A situation in which a manager can make accurate decisions because all outcomes are known
Decision-making errors and biases
Effective decision making in today's world
Certainty
Satisfice