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