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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. A repetitive decision that can be handled by a routine approach
Risk
Nonlinear thinking style
Intuitive decision making
Programmed decision
2. Making decisions on the basis of experience - feelings - and accumulated judgment
Intuitive decision making
Decision-making errors and biases
Bounded rationality
Nonlinear thinking style
3. Straightforward - familiar - and easily defined problems
Intuitive decision making
Escalation of commitment
Structured problems
Decision-making process
4. Subconscious mental processing; Values or ethics-based decisions; Experience-based decisions; Affect-initiated decisions; Cognitive-based decisions
What is intuition?
Escalation of commitment
Intuitive decision making
Linear thinking style
5. Problems that are new or unusual and for which information is ambiguous or incomplete
Policy
Risk
Satisfice
Unstructured problems
6. 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
Decision
Intuitive decision making
What is intuition?
Decision-making process
7. A situation in which the decision maker is able to estimate the likelihood of certain outcomes
Intuitive decision making
Linear thinking style
Escalation of commitment
Risk
8. Accept solutions that are 'good enough'
Certainty
Satisfice
What is intuition?
Heuristics
9. A situation that a decision maker has neither certainty nor reasonable probability estimates available
Unstructured problems
Nonlinear thinking style
Uncertainty
Satisfice
10. Criteria that define what's important or relevant to resolving a problem
Procedure
Decision criteria
Bounded rationality
Heuristics
11. Describes choices that are logical and consistent and maximize value
Rational decision making
Problem
Certainty
Rule
12. A situation in which a manager can make accurate decisions because all outcomes are known
What is intuition?
Bounded rationality
Decision-making errors and biases
Certainty
13. A guideline for making decisions
Decision criteria
Bounded rationality
Effective decision making in today's world
Policy
14. Rules of thumb that managers use to simplify decision making
Intuitive decision making
Heuristics
What is intuition?
Problem
15. Decision style characterized by a person's preference for internal sources of information and processing this information with internal insights - feelings and hunches
Intuitive decision making
Escalation of commitment
Nonlinear thinking style
Decision
16. The systematic use of the best available evidence to improve management practice
Uncertainty
Rational decision making
Risk
Evidence-based management (EBMgt)
17. 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
18. Decision style characterized by a person's preference for using external data and facts and processing this information through rational - logical thinking
Bounded rationality
Linear thinking style
Decision-making process
Programmed decision
19. An explicit statement that tells managers what can or cannot be done
Rule
Evidence-based management (EBMgt)
What is intuition?
Intuitive decision making
20. An obstacle that makes it difficult to achieve a desired goal or purpose
Problem
Intuitive decision making
Effective decision making in today's world
What is intuition?
21. An increased commitment to a previous decision despite evidence it may have been wrong
Risk
Policy
Structured problems
Escalation of commitment
22. Overconfidence; Immediate gratification; Anchoring effect; Selective perception; Confirmation; Framing; Availability; Representation; Randomness; Sunk costs; Self-serving; Hindsight
What is intuition?
Effective decision making in today's world
Decision-making errors and biases
Intuitive decision making
23. Unique and nonrecurring decisions that require a custom-made solution
Decision
Linear thinking style
Effective decision making in today's world
Nonprogrammed decisions
24. Decision making that's rational - but limited (bounded) by an individual's ability to process information
Problem
Bounded rationality
Unstructured problems
Certainty
25. A choice among two or more alternatives
Decision
Nonprogrammed decisions
Structured problems
Programmed decision
26. A series of sequential steps used to respond to a well-structured problem
Unstructured problems
Procedure
Linear thinking style
Escalation of commitment