Question 1

The rational model of decision making explains how managers should make decisions.

Accepted Answer

The rational model provides a structured approach to decision making that is based on logical reasoning and objective analysis. It suggests that managers should follow a sequential process of identifying the problem or opportunity, gathering and analyzing information, generating and evaluating alternatives, choosing the best course of action, and implementing and monitoring the decision. However, it is important to note that this model has been criticized for being unrealistic and not taking into account the complexity, uncertainty, and ambiguity of real-world situations.

Question 2

Once a solution is chosen, it should be implemented; then, stakeholders need to evaluate how effectively the solution solves the problem.

Accepted Answer

Once a solution is chosen, it is important to implement it and evaluate its effectiveness to ensure that it solves the problem properly.

Question 3

Nonrational models of decision making explain how managers actually make decisions.

Accepted Answer

Nonrational models of decision making, such as bounded rationality and intuition, explain how managers make decisions in the real world, taking into account limitations like time, information, and cognitive biases.

Question 4

Brainsourcing is a common technique used by individuals and groups to generate potential solutions.

Accepted Answer

The answer of Brainsourcing is a common technique used by...

Question 5

The first stage associated with rational decision making is to generate alternative solutions.

Accepted Answer

The first stage in rational decision making is to identify and define the problem or decision to be made. Generating alternative solutions comes after understanding the problem.

Question 6

The rational model is based on the notion that managers satisfice when making decisions.

Accepted Answer

The rational model assumes that managers make decisions optimally by gathering all relevant information and choosing the option that maximizes their utility. Satisficing, on the other hand, refers to a decision-making process where managers choose the first option that satisfies a certain level of acceptability, rather than the best possible option. Therefore, the rational model assumes that managers do not satisfice but aim to optimize their decisions.

Question 7

The benefits of trying to follow a rational process in decision making are quality, transparency, and responsibility.

Accepted Answer

Following a rational process ensures that decisions are based on well-thought-out reasoning, which leads to better quality decisions. It also ensures that the decision-making process is transparent and can be understood by everyone involved, increasing trust and accountability. Finally, following a rational process ensures that decision-makers take responsibility for their decisions, as they can explain why a particular course of action was chosen.

Question 8

Males tend to make more risky decisions than females. This is an example of a constraint on rationality.

Accepted Answer

This statement suggests that males may make decisions based more on impulsivity or overconfidence, rather than a fully rational evaluation of potential risks and benefits. This is an example of a constraint on rationality, as it suggests that cognitive biases or social norms may influence decision making, even when a completely rational approach would call for caution.

Question 9

Often, decision makers "rush to judgment." Therefore, they are encouraged to slow down when making decisions.

Accepted Answer

Rushing to make a decision can lead to hasty and uninformed choices. It is important for decision makers to take their time, gather all relevant information, and carefully consider all options before making a decision.

Question 10

Satisfying consists of choosing a solution that meets some minimum qualifications, one that is "good enough."

Accepted Answer

The answer of Satisfying consists of choosing a solution that...

Question 11

Whether you face a problem or an opportunity, the goal is always to make improvements.

Accepted Answer

The statement is true - regardless of whether you're trying to solve a problem or capitalize on an opportunity, the end goal is usually to make things better or more advantageous in some way.

Question 12

The constraints associated with bounded rationality can include personal characteristics as well as the availability of internal and external resources.

Accepted Answer

Bounded rationality refers to the limitation of an individual's ability to process information and make decisions. This can be influenced by factors such as cognitive limitations, information overload, and time constraints. Additionally, the availability of resources such as access to data, technology, and expertise can also impact an individual's ability to make rational decisions. Therefore, the constraints associated with bounded rationality can include personal characteristics as well as the availability of internal and external resources.

Question 13

Normative intuition represents the notion that decision makers are restricted by a variety of constraints when making decisions.

Accepted Answer

Normative intuition refers to the idea that there are certain norms or standards that guide our judgments and decisions, rather than being about constraints on decision-making.

Question 14

In evaluating alternatives and selecting a solution, managers should evaluate the legality and efficiency of potential solutions and conduct a cost-benefit analysis.

Accepted Answer

The answer of In evaluating alternatives and selecting a solution,...

Question 15

Tacit knowledge is information that can easily be put into words.

Accepted Answer

Tacit knowledge is information that is difficult to articulate verbally, as it is based on an individual's subjective experiences, insights, and intuition.

Question 16

A holistic hunch represents a judgment that is based on a conscious integration stored in memory.

Accepted Answer

A holistic hunch is typically based on subconscious integration of information, rather than a conscious process.

Question 17

Intuition represents judgments, insights, or decisions that come to mind on their own without explicit awareness of the evoking cues and of course without explicit evaluation of the validity of those cues.

Accepted Answer

Intuition is often described as a "gut feeling" or a hunch, and it is believed to be based on unconscious processing of information and pattern recognition. Intuitive judgments can be influenced by biases and can be inaccurate in some cases, but they can also be adaptive and provide valuable insights in complex and uncertain situations.

Question 18

Intuitive processes are influenced by both expertise and feelings.

Accepted Answer

Intuitive processes involve relying on one's past experiences and knowledge, which is influenced by expertise. However, feelings and emotions can also play a role in intuitive thinking, especially in decisions that involve personal values or social factors.

Question 19

Problem solving is the process of identifying and choosing alternative solutions that lead to a desired state of affairs.

Accepted Answer

The answer of Problem solving is the process of identifying...

Question 20

An opportunity represents a situation in which there are possibilities to do things that lead to results that exceed goals and expectations.

Accepted Answer

This statement accurately describes what an opportunity is - a chance to achieve greater success than initially anticipated.

Quiz 11: Decision Making and Creativity