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QMB 3602 Exam 1 Qs & As Already Passed!!
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QMB 3602 Exam 1 Qs & As Already Passed!!
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Name: Score:108 Multiple choice questions
Term 1 of 108
What to do about framing trap
take a different perspective, think before asking, seek input, avoid anchoring others
consider your objectives, know you have options, dont exaggerate switching costs, dont
settle
always reframe, think in neutral terms, challenge others frames
look at the extremes, challenge those extremes, question estimates
Term 2 of 108
6 M's
Nominal, Ordinal, Interval, Ratio
Indexes, Bibliographies, Internet, Search Engines
Machines, Methods, Materials, Mother Nature, Manpower, Measurements
Categorical, least sophisticated, values differ by label or name. ex: marital status
Term 3 of 108
What to do ab anchoring
we make decisions that justify past choices even when they no longer seem valid
take a different perspective, think before asking, seek input, avoid anchoring others
consider all evidence, find a devils advocate, avoid people who dont agree with you
always reframe, think in neutral terms, challenge others frames
,Term 4 of 108
Who answers the measurement questions?
Measurement Questions
Management Decision Makers
Researchers
Participants
Term 5 of 108
traps of decision making
firms cannot function independently of the stakeholder environment in which they operate .
anchoring, status quo, sunk cost, confirming evidence, framing, overconfidence, prudence,
recallability
marketing, hr management, economics, finance, health, sports, politics
because managers are agents of the firm's owners - the shareholders- managers should
always strive to act in the best interest of the firm's owners
Term 6 of 108
What to do ab Status Quo
consider your objectives, know you have options, dont exaggerate switching costs, dont
settle
Control. make sure the solutions are doing what we want them to do, if we need to re
evaluate or change anything
we seek information that supports our existing point of view and reject anything that doesnt
look at the extremes, challenge those extremes, question estimates
,Term 7 of 108
fine tuning the research question
operationally define variables, formulate levels of research questions, set the scope of the
study, evaluate hypotheses, determine necessary evidence
Management dilemma, Management question, research question, investigative question,
measurement question, management decision
develop hypotheses about possible causes of management dilemma, learn which
hypotheses can be safely ignored, conclude additional research is not needed or not
feasible
we seek information that supports our existing point of view and reject anything that doesnt
Term 8 of 108
What is a type of the following management question? "How can we reduce the number of
product defects?"
Evaluation Of Solution
Troubleshooting
Choice Of Purpose/objective
Control
, Term 9 of 108
research process pitfalls to avoid
consider all evidence, find a devils advocate, avoid people who dont agree with you
ill defined management problem
unresearchable questions
manager's hidden agendas
researcher inexperience
anchoring, status quo, sunk cost, confirming evidence, framing, overconfidence, prudence,
recallability
we tend to trust our own estimates too much. We put too much trust in the accuracy of our
forecasts
Definition 10 of 108
evaluation of solutions, choice of purpose, troubleshooting, control
Research project time frame
Types of management questions
Management science
Choice of purpose
Term 11 of 108
The sub-branches of a fish bone diagram answers which of the following questions?
population, sample
Troubleshooting
why is this a cause?
management question.
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