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Smart Book 7Which of the following are examples of what can function as the first stage in rational decision making by
managers? - correct answer ✔✔-Customer complaints
-Poor product quality
-Sales shortfalls
What is the most valuable competitive resource for a manager who needs alternative solutions to a
problem? - correct answer ✔✔Employees with ideas
According to psychologist Daniel Kahneman, which of the following characteristics describe System 2
thinking? - correct answer ✔✔-Analytical
-Conscious
-Deliberate
Which of the following questions would you use to evaluate alternatives in the third stage of the rational
model of decision making. - correct answer ✔✔-Is it ultimately effective?
-Is it feasible?
-Is it ethical?
The first stage in the rational decision-making process involves _____. - correct answer ✔✔identifying
the problem
In the fourth stage of rational decision making, managers will _____. - correct answer ✔✔implement
and evaluate the chosen solution
The rational model of decision-making is considered _____ in that it describes how managers should
make decisions, rather than how they actually make them. - correct answer ✔✔prescriptive
, Which model of decision making acknowledges that uncertainty and risk make it difficult for managers to
make optimal decisions? - correct answer ✔✔The nonrational model
The concept that suggests that the ability of decision makers to be rational is limited by constraints such
as complexity, skills, time and money is known as _____ rationality - correct answer ✔✔bounded
Which of these assumptions are made in the rational model of decision making? - correct answer ✔✔-
Managers are able to make logical decisions without prejudice or emotional blind spots.
-Managers will always select the course of action that they know will most benefit the organization.
-Managers have complete, error-free information about alternative courses of action and their
consequences.
As a manager, Colin realizes that there is no single formula for making easy decisions. In reality, business
decisions he has to make involve uncertainty and risk. This describes the _____ model of decision
making. - correct answer ✔✔nonrational
Tonya decided to purchase a piece of equipment from a domestic company instead of an overseas
company despite the domestic company's higher cost and lower quality. Her decision was based on
uncertainty that the foreign shipment would meet her production deadline. According to Herbert Simon,
Tonya was feeling the effects of _____. - correct answer ✔✔bounded rationality
When one of Serena's employees raises the concern that some of the bakery's products may have been
contaminated during a cleaning product spill, Serena is overcome with a feeling of worry that customers
could become ill if they consume her pastries. Based on these feelings, Serena makes a snap decision to
close the store for several hours to allow time for baking a new batch of pastries. Which type of intuition
does this represent? - correct answer ✔✔Automated experience
Which models are characteristic nonrational models of decision making? - correct answer ✔✔Models
that describe how managers actually make decisions
Making a choice without the use of conscious thought or logical inference is known as using - correct
answer ✔✔intuition
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