Question 1

When entrepreneurs believe that they are responsible for what happens to them and that their own actions determine important outcomes such as the success or failure of a new business, they have

Accepted Answer

An internal locus of control refers to the belief that one's own actions and decisions directly affect the outcomes and events in their life, such as the success or failure of a business.

Question 2

Define groupthink. Explain a technique that counteracts groupthink.

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The answer of Define groupthink. Explain a technique that counteracts...

Question 3

A manager who takes "ownership" of a project and provides the leadership and vision that takes a commodity from the idea stage to the final customer is a product

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A product champion is someone who takes ownership of a project, providing leadership and vision to guide a product from conception to delivery to the customer.

Question 4

Discuss the assumptions that underlie the classical model of decision-making.

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The answer of Discuss the assumptions that underlie the classical...

Question 5

What is intuition? Give an example to support your definition. Should managers use intuition in decision making? Why or why not?

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The answer of What is intuition? Give an example to...

Question 6

Researchers have identified a six-step model that can be used by managers who are faced with an important decision. Discuss any two of these steps.

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The answer of Researchers have identified a six-step model that...

Question 7

Compare and contrast programmed and nonprogrammed decision-making in organizations. Give an example of each.

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The answer of Compare and contrast programmed and nonprogrammed decision-making...

Question 8

In assessing alternatives, explain the four criteria to evaluate the pros and cons of alternative courses of action.

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The answer of In assessing alternatives, explain the four criteria...

Question 9

An entrepreneur is likely to have

Accepted Answer

High self-esteem is a common trait among entrepreneurs, as it gives them the confidence to take risks and pursue their goals.

Question 10

Calla is the manager for a fragrance company that is considering starting a line of organic perfumes. Her employees have mixed feelings about this idea. Some criticize it as being impractical, but others are enthusiastic about it, despite the costs involved in producing perfumes with organic ingredients. Which of the following actions should Calla take to efficiently and effectively ensure that the company's organic perfume line reaches the end consumer?

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The answer of Calla is the manager for a fragrance...

Question 11

Individuals who pursue opportunities to address problems and needs in order to improve society and well-being, such as reducing poverty, are known as

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Social entrepreneurs are individuals who pursue opportunities to address social problems and needs, aiming to improve society and well-being, such as reducing poverty.

Question 12

A human resource manager for a large company wants to hire people who show strong potential to become intrapreneurs. Considering this, the manager would most likely hire the applicant who

Accepted Answer

Intrapreneurs are individuals within a company who take risks and innovate like entrepreneurs. The applicant who takes responsibility for failure and is confident in correcting mistakes shows accountability, resilience, and a willingness to learn from experiences, which are key traits of an intrapreneur.

Question 13

If you want to develop a skunkworks, which of the following actions would you take?

Accepted Answer

A skunkworks project involves creating a small, autonomous group that operates outside the normal organizational structure to foster innovation and creativity.

Question 14

March and Simon developed three important concepts in their administrative model of decision making. Discuss these three concepts.

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The answer of March and Simon developed three important concepts...

Question 15

Identify the advantages and disadvantages of group decision making.

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The answer of Identify the advantages and disadvantages of group...

Question 16

Managers can use a variety of techniques in group decision-making situations to counteract situations in which the group is suffering from groupthink or cognitive biases. Two such techniques have been shown to be especially useful in such situations. Discuss these two techniques and give an example of each.

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The answer of Managers can use a variety of techniques...

Question 17

An individual who looks for opportunities and is aware of mobilizing the resources required for producing new and improved goods and services is called a(n)

Accepted Answer

An entrepreneur is an individual who looks for opportunities and is aware of mobilizing the resources required for producing new and improved goods and services.

Question 18

Describe why the stage of learning from feedback is considered very important for managers in an organization. List the benefits of this step in the decision-making process.

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The answer of Describe why the stage of learning from...

Question 19

A group of intrapreneurs who are separated from the normal operation of an organization in order to develop new products with a relatively brief development time is known as a(n)

Accepted Answer

Skunkworks refers to a group within an organization that is given a high degree of autonomy and unhampered by bureaucracy, with the task of working on advanced or secret projects, often with a focus on rapid development.

Question 20

To enhance the interaction between members of a brainstorming group, a manager should

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The answer of To enhance the interaction between members of...

Quiz 5: Decision Making, Learning, Creativity, and Entrepreneurship