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