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1. It is assumed that a perfectly rational decision maker ______________. a. does not follow...

1.
It is assumed that a perfectly rational decision maker
______________.
a. does not follow rational assumptions
b. does not consider value maximizing as an objective
c. offers inconsistent decisions
d. would be objective and logical

2.
Managers can make rational decisions if ­­­­­­­­­­­­­­­_________________.
a. the problem is ambiguous
b. the goals are unclear
c. the alternatives are limited
d. time constraints exist

3.
Which of the following is not a valid assumption
about rationality?
a.
The problem is clear and unambiguous.
b.
A single, well-defined goal is to be achieved.
c.
Preferences are clear.
d.
Preferences are constantly changing.

4. When managers circumvent the rational decision-making
model and find ways to satisfice, they are following the concept of
_________________.
a. jurisprudence
b. bounded rationality
c. least-squared exemptions
d. self-motivated decisions

5.
Because managers can’t possibly analyze all information
on all alternatives, managers ______________, rather than ______________.
a.
maximize; satisfice
b.
maximize; minimize
c.
satisfice; minimize
d.
satisfice; maximize

6.
The type of decision making in which the solution is
considered “good enough” is known as _________________.
a.
intuition
b.
satisfying
c.
maximizing
d.
satisficing

7.
When a decision maker chooses an alternative under
perfect rationality, she ______________ her decision, whereas under bounded
rationality she chooses a ______________ decision.
a.
minimizes; satisficing
b.
satisfices; maximizing
c.
maximizes; satisficing
d.
maximizes; minimizing

8.
An increased commitment to a previous decision despite
evidence that it may have been wrong is referred to as _______________.
a.
economies of commitment
b.
escalation of commitment
c.
dimensional commitment
d.
expansion of commitment

9.
Intuitive decision making is _______________.
a. not utilized in organizations
b. a conscious process based on accumulated judgment
c. making decisions based on experience, feelings, and
accumulated judgment
d. important in supporting escalation of commitment

10. In
studying intuitive decision making, researchers have found that
__________________.
a. managers do not make decisions based on feelings or
emotions
b. managers use data from their subconscious mind to help
make their decisions
c. rational thinking always works better than intuitive
d. accumulated experience does not support intuitive
decisions

 

Apr 30 2020 View more View Less

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