question archive 1) According to the decision-making process, the first step Sondra should take is to _____________
1) According to the decision-making process, the first step Sondra should take is to _____________
Subject:FinancePrice: Bought3
1) According to the decision-making process, the first step Sondra should take is to _____________.
a.
analyze alternative solutions
b.
identify decision criteria
c.
evaluate her decision’s effectiveness
d.
identify the problem
2.
According to the decision-making process, the second
step Sondra should take is to ____________.
a.
analyze alternative solutions
b.
identify decision criteria
c.
evaluate her decision’s effectiveness
d.
allocate weights to the criteria
3.
Allocating weights to the criteria is the step in the
decision-making process that occurs between identifying the decision criteria
and ______________.
a.
developing the alternatives
b.
selecting alternatives
c.
implementing the alternative
d.
identifying the problem
4.
When Sondra is conveying her decision to those affected
and getting their commitment to it, she is performing which step in the
decision-making process?
a.
analyzing alternative solutions
b.
selecting alternatives
c.
implementing the alternative
d.
identifying the problem
5.
The very last step Sondra should take, according to the
decision-making process, is to __________.
a.
analyze alternative solutions
b.
select alternatives
c.
implement the alternative
d.
evaluate the decision’s effectiveness
The Car (Scenario)
Colleen is a student, and her
older brother has loaned her an old car. The car is in need of several repairs
before she will feel comfortable driving it.
6.
Colleen needs a vehicle, but she has to decide if the
vehicle is worth repairing. She is facing a(n) _____________, a discrepancy
between an existing and a desired state of affairs.
a. alternative
b. weighted problem set
c. problem
d. certainty avoidance situation
7.
In talking with an automotive repair person, Colleen
needs to prioritize the repairs. Her first concern is safety of the vehicle.
This step in the decision-making process is called __________________.
a. weighting the decision criteria
b. analyzing of alternatives
c. identifying decision criteria
d. selecting an alternative
THE
MANAGER AS DECISION MAKER
The Car (Scenario)
Colleen is a student, and her
older brother has loaned her an old car. The car is in need of several repairs
before she will feel comfortable driving it.
8. Colleen decides to have all of the problems fixed on
the car. She assumes that the repair person has found all the problems and that
there will be no problem correcting the imperfections within a specified
budget. This is an example of a __________ decision.
a. parochial
b. irrational
c. ethical
d. rational
9. Colleen’s brother has a different view of the repairs.
He assumes that the repair person is using the best information available, but
there may be other unexpected repairs that might surface and that a higher
budget might be more reasonable. He is using ______________.
a. rational decision making
b. risk avoidance
c. bounded rationality
d. Stage 4 decision making
10. Colleen’s brother feels the car is worth repairing
because he has owned several cars made by the same manufacturer as this car,
and he has driven this car for several years. He is using _________ to determine
that the car has value despite its need of repair.
a. intuitive decision making
b. selective coordination of thought processes
c. sunk costs
d. return on investment
