Answers: Management Test

The gap between an existing state and a desired state is referred to as​ ________.
A.
uncertainty
B.
a problem
C.
heuristics
D.
bounded rationality
E.
a decision

The correct answer be option B.

The term problem refers to the existence of a gap. between the desired state and the existing state of the system

Andrew must buy a new office copier. He lists the features the copier must​ have, such as a​ built-in scanner, color​ copying, and an automatic document​ feeder, along with how much he can spend. Which step of the​ decision-making process does this​ represent?
A.
Allocating weights to the criteria
B.
Identifying decision criteria
C.
Selecting an alternative
D.
Developing alternatives
E.
Identifying the problem

The correct answer should be option B. The decision criteria are those variables or characteristics that are important to the individual making the decision. They should help evaluate the alternatives from which you are choosing.

Factors that are important or relevant to resolving a problem are referred to as​ ________.
A.
rules
B.
big data
C.
heuristics
D.
decision criteria
E.
decisions

The correct answer for this question should be decision criteria. As the above question indicates, any features that an individual replies on when making a decision describe a decision criteria.

After looking at several​ copiers, Andrew decides to buy one. He knows other models might be available​ elsewhere, but he​ doesn’t have time to keep​ looking, and the one he is buying seems to meet his needs. This is an example of​ ________.
A.
maximizing
B.
design thinking
C.
​evidence-based management​ (EBMgt)
D.
satisficing
E.
escalation of commitment

The correct answer is option D. The main of satisficing is to arrive at the most adequate result rather than just an optimal one. Instead of putting maximum exertion toward attaining the ideal outcome, satisficing focuses on pragmatic effort when confronted with tasks.

​__________ refers to the concept that many managers lack the time and the ability to process all of the alternatives to solve a problem.
A.
Design thinking
B.
Bounded rationality
C.
Intuition
D.
Heuristics
E.
Rational decision making

The correct option is B. Accurately describes to the concept that many managers lack time and ability to process all alternatives available so as to solve a problem.

The​ data-driven, systematic use of the best available facts and information to improve management practice is referred to as​ ________.
A.
design thinking
B.
bounded rationality
C.
nonlinear thinking
D.
​evidence-based management​ (EBMgt)
E.
intuitive decision making

The correct answer is option D. Usually, nonlinear decisions can be learned from data, experience, and even interactions with other decision–makers. 

​Brandi’s Bakery has received its first major commercial​ order, and the owner needs to determine if she can fill this order on her own or if she needs to hire an employee. This is an example of​ ________.
A.
a procedure
B.
satisficing
C.
certainty
D.
a programmed decision
E.
an unstructured problem

The correct answer is option E. Unstructured problem is considered unusual and for which information is ambiguous or incomplete

A manager can make the most accurate decision under a situation of​ ________ because the outcome of every alternative is known.
A.
ambiguity
B.
uncertainty
C.
risk
D.
probability
E.
certainty

The correct answer is option E

Whenever Gabriela needs to book a hotel room in an unfamiliar​ city, she always stays at a​ Marriott, because​ she’s familiar with the brand. This is an example of​ ________.
A.
a heuristic
B.
the randomness bias
C.
the hindsight bias
D.
a procedure
E.
a rule

The correct answer is option A. In most cases, an individual chooses the most easy means of achieving to a solution. Heuristics are a flexibility technique for quick decisions, particularly when working with complex data.

In making​ decisions, global managers need to consider the​ values, beliefs, and attitudes of the people involved. Which guideline for effective decision making does this​ represent?
A.
Consider all available and viable options.
B.
Understand cultural differences.
C.
Know when​ it’s time to move on.
D.
Decisions should not create conflicts of interest.
E.
Require only as much information and analysis as is necessary to resolve a particular dilemma.

The correct answer is option B. Culture influences the type of decision an individual makes.  Decision making differs across cultures so it is important to understand what drives the process.