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Exam 7: Data and Decision Making

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Question 21

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A(n) ____ environment offers complete information on possible action alternatives and their consequences.

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Question 22

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Heuristics are strategies that help in dealing with complex and ambiguous situations.

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Question 23

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Nikolai and his team have been asked to make a decision on implementing a new technology that might help to decrease the production time at their firm. They do not have any factual information about the performance of the new technology, and it is difficult to predict the outcome of their decision. They are forced to rely heavily on their intuition to make the decision. This represents a(n) _____ environment.

The first step in design thinking is visualizing and brainstorming potential solutions in collaboration with others.

_____ is the continuation of a course of action even though it is not working.

A decision that chooses the first acceptable alternative that comes to one's attention is called a(n) _____ decision.

A person decides that a group is aggressive after finding out that some members of that group are aggressive. This is an example of representativeness bias.

_____ competency is the ability to locate, gather, and organize meaningful data for use in decision making.

_____ thinking is an ability to address many problems at once.

____ problems are straightforward and clear with respect to information needs.

A(n) _____ decision chooses the alternative that gives the absolute best solution to a problem.

The classical decision model describes decision making with ____ information.

The ____ questions test the ethics of a decision by exposing it to scrutiny through the eyes of family, community members, and ethical role models.

A(n) _____ environment lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives.

_____ serve a critical function in organizations to collect, organize, and distribute data.

Melissa has been assigned to implement performance improvement procedures in her organization. She is in the final stage of the decision-making process. In order to make sure that the performance improvement procedures she implemented have been effective, she should _____.

How does design thinking help in making creative decisions?

Sumaira has been asked to prepare a report on the best advertising campaign for the new product her company is launching in a new market. The type of problem being faced by Sumaira in the above situation is a(n) _____ problem.

A(n) _____ environment offers complete information on possible action alternatives and their consequences.

Judith has been asked to prepare a report comparing the profits the company earned in the current financial year in its domestic market and compare it with the previous year's report for the same market. The type of problem faced by Judith in the above scenario is a(n) _____ problem.