GMS 522 Chapter 7 Exam Questions And Answers
analytical competency - Answer-the ability to evaluate and analyze information to make actual decisions and solve real problems
/.availability bias - Answer-occurs when people assess a current event or situation by using information that is "read...
analytical competency - Answer-the ability to evaluate and analyze information to make
actual decisions and solve real problems
/.availability bias - Answer-occurs when people assess a current event or situation by
using information that is "readily available" from memory
/.behavioural decision model - Answer-assumes that people act with only partial
knowledge about the available action alternatives & their consequences - lead to
satisficing decisions & bounded rationality
/.Big-C creativity - Answer-occurs when extraordinary things are done by exceptional
people
/.bounded rationality - Answer-managerial decisions are rational only within the
boundaries set by the available info and known alternatives (both are incomplete)
/.business intelligence - Answer-the process of tapping or mining information systems to
extract data that are most potentially useful for decision makers (involves competitive,
big picture, function specific info)
/.certain envjronment - Answer-offers complete information on possible action
alternatives and their consequences
/.classical decision model - Answer-decision making with complete information, leads to
optimizing decisions (gives absolute best solution to the problem)
/.creativity - Answer-the generation of a novel idea or unique approach that solves a
problem or crafts an opportunity
/.Design Thinking - Answer-unlocks creativity in decision making through a process of
experiencing, ideation, and prototyping
/.escalating commitment - Answer-continuing a course of action even thought it's not
working
/.executive dashboards - Answer-Visually update and display key performance
indicators and information on a real-time basis
/.information - Answer-data made useful for decision making (timely, high quality,
complete, relevant, understandable)
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