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