Managerial Decisions
is the process by which managers respond to opportunities and threats
What is decision making?
This is an example of step #...Scott McNealy recognized this need, and he realized a decision had to be made quickly.
What is step #1?
tendency to base decisions on one’s existing beliefs even if evidence shows that those beliefs are wrong.
What is confirmation bias?
In practice, _______ is probably easier to implement because it involves less managerial time and effort than does dialectical inquiry.
What is devil’s advocacy?
the ability of a decision maker to discover original and novel ideas that lead to feasible alternative courses of action.
What is creativity?
Routine, virtually automatic decision making that follows established rules or guidelines.
Managers must ensure that a possible course of action will not violate any domestic or international laws or government regulations.
What is legality?
tendency to commit additional resources to a project even if evidence shows that the project is failing
What is escalating commitment?
The ______ critiques and challenges the way the group evaluated alternatives and chose one over the others
What is devil’s advocate?
An organization in which man?agers try to maximize the ability of individuals
What is learning organization?
This is an example of...You’ll often find yourselves wanting to go somewhere because you ‘know’ that by doing so something good will happen that day
What is intuition?
Managers must ensure that a possible course of action is_____ and will not unnecessarily harm any stakeholder group.
What is ethical?
Top managers tend to have an exaggerated sense of their own worth and are overconfident about their ability to succeed and to control events.
What is illusion of control?
Critical analysis of two preferred alternatives in order to find an even better alternative for the organization to adopt.
What is dialectical inquiry?
The group leader writes a statement of the problem and a series of questions to which participating managers are to respond.
What is Delphi Technique?
decisions that require time and effort and result from careful information gathering, generation of alternatives, and evaluation of alternatives.
What is reasoning jugment?
Managers must decide whether the alternatives are economically feasible
What is Economic feasibility?
This an example of...police who are looking for a suspect in a crime might focus disproportionately on Black people in their search
What is representativeness bias?
Discouraging individuals from raising issues that run counter to majority opinion, it is a disadvantage of
What is groupthinking?
Ben Silbermann and Evan Sharp founders of Pinterest, are considered
What is entrepreneurs?
This is an example of...managers in the biotechnology industry know that new drugs have a 10% probability of successfully passing advanced clinical trials and a 90% probability of failing.
What is risk?
The need to ship a machine that was as “complete” as possible... is an example of
What is practicality criterion?
This is an example of...CEO is using market research as a sham to confirm his preconceived beliefs about a product idea.
What is confirmation bias?
When managers are subject to_____, they collectively embark on a course of action without developing appropriate criteria to evaluate alternatives
What is groupthinking?
employees notice opportunities for either quantum or incremental product improvements and are responsible for managing the product development process
What is intrapreneur?