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262-ch 9
decision making, creativity & ethics
| Question | Answer |
|---|---|
| The __________ decision maker makes consistent, high-quality choices within specified constraints. | rational |
| Define the ____ | problem |
| ______ the criteria | identify |
| ________ _________ to the criteria | allocate weights |
| develop _______ | alternatives |
| _______ the alternatives | evaluate |
| _____ the best alternative | select |
| What are the six steps in the Rational Decision-Making Model? | define the problem; identify the criteria; allocate weights to the criteria; develop alternatives; evaluate the alternatives; and select the best alternative |
| What are some assumptions about the six step model? | problem clarity; known options; clear preferences; constant preferences; no time or cost constraints; and maximum payoff |
| Do most decisions in the real world follow the rational model? | No, people are usually content to find an acceptable or reasonable solution to their problem rather than an optimal one |
| Most significant decisions are made by ______, rather than by ______ __________ _________. | judgment; defined prescriptive model |
| If a manager interviews candidates for a position and stops when he finds someone good enough. He is using what rational? | satisfice |
| What is the least rational way of making decisions? | relying on intuition |
| Intuition relies on_____? | holistic associations, or links between disparate pieces of information. It is emotionally charged. |
| To minimize effort and avoid difficult trade-offs people tend to rely heavily on ____, _____, ____ _____, and ______ _____ of ____. | experience; impulses; gut feelings; & convenient rules of thumb. |
| John says he is 65 to 75% confident about his facts. Mary says she is 100% confident about her answer. What % is closer to the actual, and what is the reason? | 50%; 70-805%; showing overconfidence bias. |
| The jury has been asked to make an award in the range of $15 million to $50 million. According to the _____ _____, they would most likely award how much and why? | anchoring bias; award $15 million; due to the fact that once a number has been stated the ability to ignore that number has been compromised. |
| The rational decision-making process assumes that we ______ gather information, but we actually _________ gather it. | objectively; selectively |
| If you collect evidence in the same places and give weight to supporting information with little contradictory information. You are using ___________ bias. | confirmation bias |
| When doing an annual performance review, why would a manager tend to give more weight to a recent behaviour of an employee than to those behaviours of six or nine months ago? | according to the availability bias -events that evoke emotions, that are particularly vivid, or that have occurred more recently tend to be more available in our memories. |
| Things aren't going well at a job that your friend has in for 4 years, he is determined to stay. He claims his reason for staying is that he has put a lot of time and effort into learning how to do the job. What is he demonstrating? | escalation of commitment. |
| Our tendency to believe we can predict the outcome of random events is the __________ ____ | randomness error |
| What can impair decision making? | trying to create meaning out of random events, particularly when we turn imaginary patterns into superstitions. |
| Who tends to be more risk adverse? | managers; ceo's; ambitious people with power that can be taken away. |
| What does the hindsight bias reduce? | the ability to learn from the past. It lets us think we are better predictors than we really are and can make us falsely confident. |
| How can we reduce biases and errors in decision making? | make clear goals; look for info that disconfirms your beliefs; don't create meaning/can patterns be explained; increase your options with more alternatives. |
| True or False. Groups generate more complete information and knowledge? | True |
| Why would a group be less likely to doubt or change their mind after a decision has been made? | the group is likely to support the decision enthusiastically and encourage others to accept it. |
Created by:
buad ok college
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