Deck 10: Strategy and International Business

Question 1

Which corporate members are typically not involved in making strategic decisions?

A) Top management teams
B) Employees
C) CEOs
D) Board of Directors

Answer 1

B

Question 2

_________________ are unique and important and require conscious thinking, information gathering, and careful consideration of alternatives.

Answer 2

N onprogrammed decisions

Question 3

Creativity is the first step in the innovation process.

Answer 3

True

Question 4

It can be argued that management is decision making and all of the decisions made by managers within organizations succeed.

Question 5

The tendency to accept the first alternative that meets minimum criteria is called:

A) Bounded rationality model
B) Intuitive decision-making model
C) Satisfice
D) Analysis paralysis

Question 6

Creative decision making includes which of the following?

A) Illustration
B) Problem solving
C) Immersion
D) Creative coordination

Question 7

People often use the rational decision making model when:

A) Information on alternatives can be gathered and quantified
B) The minimum criteria are clear
C) Goals are unclear
D) Solutions to the problem are not clear

Question 8

In the rational decision-making model, individuals knowingly limit their options to a manageable set and choose the best alternative without conducting an exhaustive search for alternatives.

Question 9

Creativity and innovation are the same thing.

Question 10

In 2005, McDonald's became aware of a need to respond to growing customer concerns regarding the unhealthy aspects of the food they sell in terms of being high in fat and calories, is an example of a programmed decision.

Question 11

________________ refers to selecting choices among alternative courses of action, which may also include inaction.

Question 12

Satisficing is similar to rational decision making.

Question 13

The model that refers to arriving at decisions without conscious reasoning is called ___________________.

Question 14

An important part of the bounded rationality approach is the tendency to ______________.

Question 15

Decisions that occur frequently enough that we develop an automated response to them are termed ________________.

Question 16

Making strategic, tactical and operational decisions is an integral part of which function of the P-O-L-C framework?

A) Planning
B) Organizing
C) Leading
D) Controlling

Question 17

One of the most important considerations in management is whether or not the decisions you are making as an employee or manager are ethical.

Question 18

The automated response we use to make programmed decisions is called a ______________.

Question 19

Creative ideas begin with innovation, and it also involves realistic planning and follow-through.

Question 20

The availability of too much information and too many choices can lead to __________________, where more and more time is spent on gathering information and thinking about it, but no decisions actually get made.

Question 21

Describe the three decisions commonly made within organizations.

Question 22

Setting high ____________ where the group must reach a set number of ideas before they are done is recommended to avoid process loss and maximize the effectiveness of brainstorming.

Question 23

Escalation of commitment bias occurs when individuals continue on a failing course of action after information reveals this may be a poor path to follow.

Question 24

Why does escalation of commitment occur?

Question 25

______________ refers to the tendency of individuals to rely too heavily on arbitrary numbers, irrelevant traits, or facts when making decisions.

Question 26

________________ is a group process of generated ideas that follows a set of guidelines which include no criticism of ideas, and building on other ideas.

Question 27

_______________ occurs when looking backward in time where mistakes made seem obvious after they have already occurred.

Question 28

Kahneman and Tversky found that individuals are influenced in making decisions by which of the following?

A) De-escalation
B) Overconfidence
C) Decision bias
D) Constructing bias

Question 29

A variation of brainstorming is ___________ where the group focuses on ideas that are impossible and then imagines what would need to happen to make them possible.

Question 30

Use the _____________ decision-making model when you have experience with the problem.

Question 31

If a group is diverse, poor decisions may be made because different group members may have different ideas based on their background and experience.

Question 32

When individuals continue on a failing course of action after information reveals this may be a poor path to follow is called ________________.

Question 33

______________ bias occurs when individuals overestimate their ability to predict future events.

Question 34

Research shows that for top management teams, groups that debate issues and which are diverse make decisions that are more comprehensive and better for the bottom line in terms of profitability and sales.

Question 35

_____________ refers to the tendency of decision makers to be influenced by the way that a situation or problem is presented.

Question 36

How does one avoid overconfidence bias?

Question 37

Explain the classic example of escalation of commitment in Motorola's Iridium project.

Question 38

Sunk costs fallacy is another term for _______________ .

Question 39

If you are able to generate several distinct solutions to a problem, your decision-making process is high on ______________.

Question 40

A recent alternative to brainstorming is _____________.

Question 41

The tendency to avoid critical evaluation of ideas the group favors is called social loafing.

Question 42

Groups tend to suffer from symptoms of groupthink when they are small and when the group is not cohesive.

Question 43

A problem the Group Decision Support System (GDSS) intended to solve is:

A) Use in virtual meetings
B) Need for immediate feedback
C) Lack of control over the issues
D) To make sure every idea is heard

Question 44

What are the steps of the Delphi Technique?

Question 45

Decision trees tend to be helpful in guiding the decision maker to a predetermined alternative, but do not ensure consistency of decision making.

Question 46

What are the four steps to nominal group technique?

Question 47

Groupthink is characterized by which of the following symptoms?

A) Invulnerability
B) Collective modeling
C) Nominal Group Technique (NGT) is used more often than it should
D) Stereotyped views of out-groups are seen when groups discount rivals' abilities to make effective responses

Question 48

The tendency of individuals to put forth less effort while working in a group context is called _______________.

Question 49

A group pressure phenomenon that increases the risk of the group making flawed decisions by allowing reductions in mental efficiency, reality testing, and moral judgment is called ________________.

Question 50

Nominal Group Technique (NGT) is used to structure group meetings when members are grappling with problem solving or idea generation.

Question 51

_________?????____ refers to a decision-making rule where each member of the group is given a single vote and the option which receives the greatest number of votes is selected.

Question 52

A group process using written responses to a series of questionnaires instead of physically bringing individuals together to make a decision is called _____________.

Question 53

Despite its popularity within organizations, group decision making suffers from which of the following?

A) Groups commonly outperform their best member, which can lead to intra-group rivalries.
B) Group decision making is not a thorough process for some management decisions.
C) Groups can suffer from social isolation.
D) Groups may suffer from the tendency to avoid critical evaluation of ideas the group favors.

Question 54

Some recommendations for avoiding groupthink include the following EXCEPT:

A) Discuss the symptoms of groupthink and how to avoid them
B) Assign a rotating devil's advocate
C) Encourage a culture of difference where different ideas are valued
D) Break up the team

Question 55

The Delphi technique refers to a decision-making rule where each member of the group is given a single vote and the option which receives the greatest number of votes is selected.

Question 56

Tools and techniques for making better decisions include which of the following?

A) Brainstorming
B) Collaboration
C) Delphi technique
D) Minority rule

Question 57

_______________ was developed to help with group decision making by ensuring that all members participate fully.

Question 58

Diagrams where answers to yes or no questions lead decision makers to address additional questions until they reach the end of the tree are called __________________.

Question 59

_____________________ are interactive computer-based systems that are able to combine communication and decision technologies to help groups make better decisions.

Question 60

Research shows that a Group Decision Support System (GDSS) can actually improve the output of group collaborative work through higher information sharing.

Question 61

What are the steps to a premortem process?

Question 62

Research suggests that the simple exercise of imagining what could go wrong with a given decision can increase your ability to correctly identify reasons for future successes or failures by ___________.

Question 63

What is the process of consensus?

Question 64

A ________________ is a way to imagine what might go wrong and avoid it before spending a cent or having to change course along the way.