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Terms in this set (29)Identify the steps in the decision-making process. The decision-making process involves programmed decisions and nonprogrammed decisions. The first step is recognizing the problem or realizing a decision must be made. Second, the objective of the decision is identified. The third step is gathering information relevant to the problem. The fourth step is listing and evaluating alternative courses of action. Finally, the manager selects the alternative that best meets the decision objective. Describe various models of decision making. The rational model of decision making contends that the decision maker is completely rational in his or her approach. Bounded rationality theory suggests that constraints force decision makers to be less rational and assumes that managers satisfice and develop heuristics. The Z problem-solving model capitalizes on the strengths of four separate preferences (Sensing, Intuiting, Thinking, and Feeling), allowing managers to use preferences and nonpreferences to make decisions. Discuss the individual influences that affect decision making. Decisions reflect the people who make them. The individual influences that affect decision making are comfort with risk, cognitive style, personality, intuition, and creativity. Explain how groups make decisions. Group decisions are utilized for several reasons: to achieve synergy, to gain commitment to a decision, and to maximize knowledge and experience in problem-solving situations. Seven techniques utilized in group decisions are brainstorming, nominal group technique, devil's advocacy, dialectical inquiry, quality circles and quality teams, and self-managed teams. Describe the role culture plays in decision making. Styles of decision making vary greatly among cultures and affect the way people view decisions. The dimensions proposed by Hofstede in Chapter 2 that affect decision making are: uncertainty avoidance, power distance, individualism/collectivism, time orientation, masculinity/femininity, cultural diversity, functional background, and strategic decision making. Explain how organizations can improve the quality of decisions through participation. Participative decision making can include employees identifying problems, generating alternatives, selecting solutions, planning implementations, and/or evaluating results. Participative management can increase employee creativity, job satisfaction, and productivity, and improve a company's economic performance. programmed decision A simple, routine matter for which a manager has an established decision rule. nonprogrammed decision A new, complex decision that requires a creative solution. effective decision A timely decision that meets a desired objective and is acceptable to those individuals affected by it. Rationality A logical, step-by-step approach to decision making, with a thorough analysis of alternatives and their consequences. bounded rationality A theory that suggests that there are limits to how rational a decision maker can actually be. Satisfice To select the first alternative that is "good enough," because the costs in time and effort are too great to optimize. Heuristics Shortcuts in decision making that save mental activity. escalation of commitment The tendency to continue to support a failing course of action. cognitive style An individual's preferred method for gathering information and evaluating alternatives. risk aversion The tendency to choose options that entail fewer risks and less uncertainty. Intuition A fast, positive force in decision making that is utilized at a level below consciousness and involves learned patterns of information. Creativity A process influenced by individual and organizational factors that results in the production of novel and useful ideas, products, or both. Synergy A positive force that occurs in groups when group members are stimulated to produce new solutions to problems through the process of mutual influence and encouragement within the group. social decision schemes Simple rules used to determine final group decisions. Groupthink A deterioration of mental efficiency, reality testing, and moral judgment resulting from pressures within the group. group polarization The tendency for group discussion to produce shifts toward more extreme attitudes among members. Brainstorming A technique for generating as many ideas as possible on a given subject while suspending evaluation until all the ideas have been suggested. nominal group technique (NGT) A structured approach to group decision making that focuses on generating alternatives and choosing one. devil's advocacy A technique for preventing groupthink in which a group or individual is given the role of critic during decision making. dialectical inquiry A debate between two opposing sets of recommendations. quality circle A small group of employees who work voluntarily on company time, typically one hour per week, to address work-related problems such as quality control, cost reduction, production planning and techniques, and even product design. quality team A team that is part of an organization's structure and is empowered to act on its decisions regarding product and service quality. participative decision making Decision making in which individuals who are affected by decisions influence the making of those decisions. 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ADVANCED MATH Prove that each set is uncountable. (a) the set of irrationals (b) $(1,2) \cup\left\{2^{n}: n \in \mathbb{N}\right\}$ (c) $\left\{(x, y) \in \mathbb{R} \times \mathbb{R}: x^{2}+y^{2}<1\right\}$ (d) $\mathbb{R} \times \mathbb{N}$ Verified answer
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ADVANCED MATH Assume that n is a positive integer with n > 1 and that all polynomials have integer coefficients. a) Show that if f(x) and g(x) are congruent as polynomials modulo n, thenfor every integer a, f (a)= g(a) (mod n). b) Show that it is not necessarily true that f(x) and g(x) are congruent as polynomials modulo n if f(a) = g(a) (mod n) for every integer a. Verified answer ADVANCED MATH Prove that 24 divides the sum of any 24 consecutive Fibonacci numbers. Verified answer Other Quizlet setsChapter 3- Managers as Decision Makers15 terms jamieinlander PSYCH ExAM 175 terms clicciardi16 MGT 300 Exam 342 terms MaraBrown12 Assignment 4 - Review Questions19 terms svanzandbergen Related questionsQUESTION Cost minimization is an appropriate strategy in which stage of the product life style? 8 answers QUESTION The voting technique of majority rule has been found to be the most effective overall, as it utilizes a more democratic approach to decision making. 4 answers QUESTION Which group decision making technique assures all parties involved equal participation in making the group's decision? 2 answers QUESTION 3) The center-of-gravity method finds the location of a centralized facility, such as a distribution center, that will maximize the organization's revenue. 15 answers What is the first step in the decision making process?Step 1: Identify the decision. You realize that you need to make a decision. ... . Step 2: Gather relevant information. ... . Step 3: Identify the alternatives. ... . Step 4: Weigh the evidence. ... . Step 5: Choose among alternatives. ... . Step 6: Take action. ... . Step 7: Review your decision & its consequences.. What are the steps in decision making quizlet?Terms in this set (7). Identify the decision to be made.. Gather the information.. Identify the alternatives.. Weigh the evidence.. Choose among the alternatives.. Take action.. Review and evaluate the decision.. What is the first step in the decision making process take action get information form a decision identify the choices quizlet?Terms in this set (14). Identify the decision.. Gather relevant information.. Identify the alternatives.. Weigh the evidence.. Choose among alternatives.. Take action.. Review your decision & its consequences.. Identify the decision. You realize that you need to make a decision.. What is the first step in the decision making process quizlet Econ?The first step in making a decision is making a choice among the available alternatives. The "take-action" step in decision making is doing what you have chosen to do. The process of choosing which want, among several wants being considered at certain time, will be satisfied is called economic decision making.
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