Question 1

Improving the quality of high-value decision making by an executive will save an organization far more money than improving the quality of lesser-value decisions made at a lower level.

Accepted Answer

The answer of Improving the quality of high-value decision making...

Question 2

A structured decision can be made by following a well-defined set of procedures. No "feel" or intuition is necessary.

Accepted Answer

A structured decision is based on a set of defined procedures and is not influenced by personal feelings or intuition.

Question 3

Structured decision making is most prevalent at lower organizational levels.

Accepted Answer

The answer of Structured decision making is most prevalent at...

Question 4

The intelligence phase of decision making consists of discovering, identifying, and understanding the problems occurring in the organization.

Accepted Answer

The intelligence phase involves gathering information about problems in the organization.

Question 5

High-velocity decision making systems are growing rapidly for decisions classed as
A) semi-structured.
B) financial.
C) ad hoc.
D) predefined.
E) highly structured.

Accepted Answer

The answer of High-velocity decision making systems are growing rapidly...

Question 6

Which of the following describes how the Simon framework of decision-making works in high-velocity decision environments?
A) Only the initial step is performed by the software; the final three steps are handled by humans.
B) The first two steps of Simon's framework are eliminated and the final two steps are handled by software algorithms.
C) The first three steps of the process are handled by software algorithms and the final step is handled by experienced managers.
D) All four steps are performed by humans with the support of high-speed, high-volume DSS and ESS.
E) All four steps of the process are handled by software algorithms; humans are eliminated from the decisions because they are too slow.

Accepted Answer

The answer of Which of the following describes how the...

Question 7

Behavioral models of management sees managers as being ________ than does the classical model.
A) more systematic
B) more informal
C) more reflective
D) more well organized
E) less reactive

Accepted Answer

Behavioral models of management emphasize the importance of informal communication, human behavior, and employee motivation, while the classical model focuses on more formal structures and processes. Therefore, the behavioral model sees managers as being more informal in their management style.

Question 8

Which of the following is not one of the five classical functions of managers?
A) leading
B) deciding
C) planning
D) organizing
E) controlling

Accepted Answer

The answer of Which of the following is not one...

Question 9

In your position of office manager at a legal firm, you are in charge of hiring temporary legal assistants and clerical workers. Describe how Simon's decision-making process applies to this decision. Could that decision be aided by an information system in any way, and if so, how?

Accepted Answer

The answer of In your position of office manager at...

Question 10

The dimension of ________ describes whether the structure of data is consistent within an information source.
A) completeness
B) accuracy
C) validity
D) consistency
E) integrity

Accepted Answer

The answer of The dimension of ________ describes whether the...

Question 11

The first stage in Simon's decision-making process model is the design stage.

Accepted Answer

The first stage in Simon's decision-making process model is the intelligence stage, not the design stage.

Question 12

A structured decision is repetitive and routine, for which known procedures provide solutions.

Accepted Answer

Structured decisions are those that can be solved using established procedures because they are routine and repetitive.

Question 13

The classical model of management does not address what exactly managers do when they plan, decide things, and control the work of others.

Accepted Answer

The classical model of management focuses on principles such as division of labor, hierarchy, and efficiency, but does not provide specific details on how managers plan, make decisions, and control the work of others within the organization.

Question 14

Middle management face primarily unstructured decisions.

Accepted Answer

The answer of Middle management face primarily unstructured decisions....

Question 15

The third stage in Simon's description of decision making is choice.

Accepted Answer

Simon's third stage of decision making is indeed choice, where a decision maker evaluates alternatives and selects the best course of action based on their preferences and goals.

Question 16

Explain why even well-designed information systems do not always help improve a firm's decision making.

Accepted Answer

The answer of Explain why even well-designed information systems do...

Question 17

The implementation phase of Simon's decision-making model includes choosing among solution alternatives.

Accepted Answer

The answer of The implementation phase of Simon's decision-making model...

Question 18

A drawback to high-velocity, automated decision-making systems is that they are unable to
A) handle high volumes of decisions.
B) handle structured decisions.
C) handle semi-structured decisions.
D) control themselves and respond to new environments.
E) be applied to situations outside of the financial world.

Accepted Answer

High-velocity, automated decision-making systems are designed to analyze data, identify patterns, and make decisions at incredible speeds. However, they are unable to control themselves and respond to new environments. This lack of adaptability can result in poor decisions when the system encounters unfamiliar situations or unexpected changes. As a result, humans are needed to oversee such systems and intervene when necessary.

Question 19

A key business decision in your sporting goods manufacturing company is determining what suppliers to use for your raw materials. How can you determine if a manager in charge of selecting suppliers is making the best choice?

Accepted Answer

The answer of A key business decision in your sporting...

Question 20

Which quality dimension of information is concerned that the data values of an information source fall within a defined range?
A) timeliness
B) consistency
C) completeness
D) accessibility
E) validity

Accepted Answer

Validity refers to the accuracy and correctness of the data values. If the data falls within a defined range, it is considered valid. Timeliness refers to the recency of the data. Consistency refers to the coherence and conformity of the data with other sources. Completeness refers to the extent of data coverage, and accessibility refers to the ease of accessing the data.

Quiz 12: Enhancing Decision Making

Improving the quality of high-value decision making by an executive will save an organization far more money than improving the quality of lesser-value decisions made at a lower level.

A structured decision can be made by following a well-defined set of procedures. No "feel" or intuition is necessary.

Structured decision making is most prevalent at lower organizational levels.

The intelligence phase of decision making consists of discovering, identifying, and understanding the problems occurring in the organization.

High-velocity decision making systems are growing rapidly for decisions classed as

Which of the following describes how the Simon framework of decision-making works in high-velocity decision environments?

Behavioral models of management sees managers as being ________ than does the classical model.

Which of the following is not one of the five classical functions of managers?