UIUC BADM 310 Exam 2 || with Error-free Solutions.
11 views 0 purchase
Course
UIUC BADM 310
Institution
UIUC BADM 310
Decision Making correct answers the process by which managers respond to opportunities and threats by analyzing options and making determinations about specific organizational goals and courses of action
Programmed Decision Making correct answers Routine, virtually automatic decision making that...
UIUC BADM 310 Exam 2 || with Error-free Solutions.
Decision Making correct answers the process by which managers respond to opportunities and
threats by analyzing options and making determinations about specific organizational goals and
courses of action
Programmed Decision Making correct answers Routine, virtually automatic decision making that
follows established rules or guidelines
Non-programmed Decision Making correct answers nonroutine decision making that occurs in
response to unusual, unpredictable opportunities and threats
Intuition correct answers Feelings, beliefs, and hunches that come readily to mind, require little
effort and information gathering, and result in on-the-spot decisions.
Reasoned Judgement correct answers A decision that requires time and effort and results from
careful information gathering, generation of alternatives, and evaluation of alternatives
Classical Decision Making Model correct answers A prescriptive approach to decision making
based on the assumption that the decision maker can identify and evaluate all possible
alternatives and their consequences and rationally choose the most appropriate course of action
Optimum Decision correct answers The most appropriate decision in light of what managers
believe to be the most desirable consequences for the organization
Administrative Model correct answers An approach to decision making is inherently uncertain
and risky and why managers usually make satisfactory rather than optimum decisions
Bounded Rationality correct answers Cognitive limitations that constrain one's ability to
interpret, process, and act on information
Risk correct answers The degree of probability that the possible outcomes of a particular course
of action will occur
Uncertainty correct answers Unpredictability
Ambiguous Information correct answers Information that can be interpreted in multiple and often
conflicting ways.
Satisficing correct answers Searching for, and choosing an acceptable, or satisfactory, response
to problems and opportunities, rather than trying to make the best decision
Heuristics correct answers Rules of thumb that simplify decision making
Systematic Errors correct answers Errors that people make over and over and that result in poor
decision making
, Prior Hypothesis Bias correct answers A cognitive bias resulting from the tendency to base
decisions on strong prior beliefs even if evidence shows that those beliefs are wrong
Representativeness Bias correct answers A cognitive bias resulting from the tendency to
generalize inappropriately from a small sample or from a single vivid event or episode
Illusion of Control correct answers A source of cognitive bias resulting from the tendency to
overestimate one's own ability to control activities and events
Escalating Commitment correct answers A source of cognitive bias resulting from the tendency
to commit additional resources to a project even if evidence shows that the project is failing
Groupthink correct answers A pattern of faulty and biased decision making that occurs in groups
whose members strive for agreement among themselves at the expense of accurately assessing
information relevant to a decision
Devil's Advocacy correct answers Critical Analysis of a preferred alternative, made in response
to challenges raised by a group member who, playing the role of devil's advocate, defends
unpopular or opposing alternatives for the sake of argument
Dialectical Inquiry correct answers Critical analysis of two preferred alternatives in order to find
an even better alternative for the organization to adopt
Organizational Learning correct answers The process through which managers seek to improve
employee's desire and ability to understand and manage the organization and its task
environment
Learning Organization correct answers An organization in which managers try to maximize the
ability of individuals and groups to think and behave creatively and thus maximize the potential
for organizational learning to take place.
Production Blocking correct answers A loss of productivity in brainstorming sessions due to the
unstructured nature of brainstorming
Nominal Group Technique correct answers A decision-making technique in which group
members write down ideas and solutions, read their suggestions to the whole group, and discuss
and then rank the alternatives
Delphi Techniques correct answers A decision-making technique in which group members do
not meet face-to-face but respond in writing to questions posed by the group leader.
Entrepreneur correct answers An individual who notices opportunities and decides how to
mobilize the resources necessary to produce new and improved goods and services
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R220,88. You're not tied to anything after your purchase.
