What is managers from all parts of the organization.
100
Scholars call this a rule of thumb —strategies that simplify the process of making decisions.
What is heuristics
100
There are three levels of planning. Their order, from first to last, is
What is strategic, tactical, and operational.
100
Making a choice without the use of conscious thought or logical inference.
What is Intuition
200
A company that is an expert at producing and selling narrowly defined products or services, and which does not tend to seek opportunities outside its present market is known as
What is defender.
200
A situational analysis is also known as
What is SWOT Analysis
200
This decision making style individual is a careful decision maker who take longer to make decisions but who also respond well to new or uncertain situations.
What is Analytical
200
This means gaining information about one's competitors' activities so that you can anticipate their moves and react appropriately
What is Competitive intelligence
200
A graph of decisions and their possible consequences
What is decision tree.
300
Focus on developing new products or services and in seeking out new markets, rather than waiting for things to happen.
What is Prospectors
300
The strategy to offer products or services that are of unique and superior value compared to those of competitors but to target a wide market.
What is differentiation
300
This decision making style has a low tolerance for ambiguity(uncertainty) and tend to focus on the people or social aspects of a work situation.
What is Behavior decision making style
300
Managers tend to give more weight to more recent behavior. This is because the managers use the information readily available from memory to make judgments.
What is availability bias
300
This is a characteristic of a related diversification strategy. The concept of is that the economic value of separate, related businesses under one ownership and management is greater together than the businesses are worth separately.
What is Synergy
400
Long-term decisions about the overall direction of the organization, based in part on environmental conditions outside the firm, are part of the
What is strategic plan.
400
Ferrari, Lamborghini, Bentley carmakers pursue this type of strategy
What is focused-differentiation strategy
400
If a manager can't find a good solution and follows by (a) procrastinating, (b) passing the buck, or (c) denying the risk of any negative consequences. Which type of reaction are they portraying?
What is Defensive avoidance
400
In this decision making style, managers take small, short-term steps to alleviate a problem, rather than steps that will accomplish a long-term solution.
What is incremental model
400
This type of manager realizes that complete inaction will have negative consequences but opts for the first available alternative that involves low risk.
What is Relaxed change.
500
The correct order of planning steps within an organization
What is Mission statement & vision statement, strategic planning, tactical planning, operational planning
500
This strategy, keeps the costs, and prices, of a product or service below those of competitors and to target a wide market.
What is cost-leadership strategy
500
The rational model of decision making, also called the
What is classical model
500
Three non-rational models are
What is (1) satisficing, (2) incremental, and (3) intuition.
500
Porter's competitive strategies include
What is cost leadership, differentiation, cost focus, and focused differentiation.