Question 1

What is the first step in the decision-making process?

Accepted Answer

The first step in the decision-making process is identifying opportunities and diagnosing problems. This step involves recognizing that a decision needs to be made due to an existing issue or an opportunity to improve a situation.

Question 2

The first step in the decision-making process is

Accepted Answer

The first step in the decision-making process is identifying opportunities and diagnosing problems. This step involves recognizing that a decision needs to be made due to an existing problem or an opportunity to improve a situation.

Question 3

Before a new resort, Marriott does an exhaustive amount of marketing research of a variety of demographic variables. Which stage of the decision-making process requires managers to place a premium on obtaining accurate, reliable information about the organization's external environment?

Accepted Answer

Identifying opportunities and diagnosing problems is the stage in the decision-making process where managers need to understand the external environment thoroughly to identify potential opportunities for the organization or diagnose existing problems. This requires accurate and reliable information about the external environment, which is why exhaustive marketing research is conducted.

Question 4

Consumer products firms such as Clorox, Procter & Gamble, and Colgate-Palmolive spend millions of dollars each year on marketing research to identify trends in consumer preferences and buying decisions. This activity is most helpful to a firm in the __________ stage of the decision-making process.

Accepted Answer

Identifying trends in consumer preferences and buying decisions helps firms in the identifying opportunities and diagnosing problems stage by providing insights into what consumers want and need, which can highlight new market opportunities or areas where the company may need to improve.

Question 5

Air traffic controllers at the Orlando International Airport routinely monitor the assigned altitudes and routes of airplanes to determine if any discrepancies exist between where the planes are supposed to be and where they actually are. This activity would be included in which step of the decision-making process?

Accepted Answer

This activity is part of identifying opportunities and diagnosing problems, as air traffic controllers are essentially looking for any deviations from the plan that might indicate a problem or an opportunity for corrective action.

Question 6

The second step of the decision-making process deals with the results the organization wants to attain. This step is referred to as

Accepted Answer

The second step in the decision-making process involves identifying objectives, which means defining the goals or results the organization aims to achieve through its decision. This step is crucial for guiding the subsequent steps in the decision-making process, such as generating alternatives and choosing the best course of action.

Question 7

__________ refer to the results the organization wants to attain.

Accepted Answer

Objectives are the specific results that an organization aims to achieve within a certain timeframe. They guide the direction and efforts of the organization.

Question 8

Objectives can be expressed for long spans of time (years or decades) or for short spans of time (hours, days, or months). Long-range objectives usually direct much of the __________ decision-making of the organization, while short-range objectives usually guide __________ decision-making.

Accepted Answer

Long-range objectives are typically associated with strategic decision-making, as they involve planning for the future direction and priorities of the organization. Short-range objectives, on the other hand, are more about the day-to-day operations and thus guide operational decision-making.

Question 9

The CEO of ITT Industries, knows that the identification of both long-range and short-range organizational targets is important in order for effective decision-making to occur. The identification of these targets occurs in the __________ step of the decision-making process.

Accepted Answer

Identifying objectives is crucial for setting both long-range and short-range targets, which guides the decision-making process by clarifying what the organization aims to achieve.

Question 10

Following the decision-making process, what should the CEO of Chase Manhattan Corp., do after he identifies the opportunities and diagnoses the problems facing Chase Manhattan?

Accepted Answer

After identifying opportunities and diagnosing problems, the next step in the decision-making process is to generate alternatives to address the issues and capitalize on the opportunities.

Question 11

According to our textbook, the step in the decision-making process that requires the most creativity and imagination is

Accepted Answer

Generating alternatives requires the most creativity and imagination because it involves coming up with different solutions or options to address the identified problem or opportunity. This step demands innovative thinking to explore various possibilities before making a decision.

Question 12

Which step in the decision-making process best lends itself to the use of brainstorming, nominal group technique, and the Delphi technique?

Accepted Answer

These techniques are specifically designed to generate a wide range of ideas and alternatives in a structured manner, making them most suitable for the stage of generating alternatives in the decision-making process.

Question 13

The step in the decision-making process that asks the question, "Which solution is best? is referred to as

Accepted Answer

Evaluating alternatives involves comparing different solutions to determine which one is the best, directly addressing the question, "Which solution is best?"

Question 14

Don Jacobs is currently determining the relative advantages and disadvantages of the alternatives generated by a team of employees. This step in the decision-making process is referred to as

Accepted Answer

Evaluating alternatives involves assessing the relative merits and drawbacks of different options that have been generated to solve a problem, which is what Don Jacobs is doing.

Question 15

Mr. Richard McCormick, the CEO of West Company, often examines several alternatives before he moves forward on a major initiative. This process usually involves a fairly lengthy examination of each alternative before a final decision is made. This step in the decision-making process is referred to as

Accepted Answer

Evaluating alternatives involves a detailed examination of each option before making a final decision, which aligns with Mr. McCormick's approach of examining several alternatives in depth before moving forward on a major initiative.

Question 16

Sensitivity to the needs of the people who will be affected by a decision and proper consideration of the resources necessary to carry out the decision are key attributes of the __________ stage in the decision-making process.

Accepted Answer

Sensitivity to the needs of the people affected by a decision and consideration of the necessary resources are crucial in the "choosing implementation strategies" stage. This stage involves planning how to execute the chosen alternative, taking into account the impact on stakeholders and the resources required for successful implementation.

Question 17

Ruby Tuesday Restaurants decided to move its headquarters from Mobile, Alabama to Knoxville, Tennessee. The company's managers attempted to be sensitive to the needs of those employees affected by the decision and did exhaustive calculations regarding the costs associated with moving employees, their families, and the company's office materials. This type of consideration is typically included in the __________ stage of the decision-making process.

Accepted Answer

The consideration of costs and needs associated with moving employees and materials falls under the "choosing implementation strategies" stage of the decision-making process. This stage involves planning how to execute the decision made, including logistical and human resource considerations.

Question 18

After a major decision is made, it is important to observe the impact of the decision and take corrective action if the decision does not produce positive results. This step in the decision-making process is referred to as

Accepted Answer

Monitoring and evaluating involve observing the outcomes of a decision and making adjustments if the expected positive results are not achieved. This step ensures that the decision effectively meets its objectives.

Question 19

Although timely and accurate information is useful in every stage of the decision-making process, it is especially critical for

Accepted Answer

The answer of Although timely and accurate information is useful...

Question 20

Two major models of decision-making are

Accepted Answer

The two major models of decision-making are rational-economic, which focuses on logical and optimal decision-making, and behavioral, which considers psychological factors and real-world complexities.

Quiz 6: Managerial Decision Making

What is the first step in the decision-making process?

The first step in the decision-making process is

Before a new resort, Marriott does an exhaustive amount of marketing research of a variety of demographic variables. Which stage of the decision-making process requires managers to place a premium on obtaining accurate, reliable information about the organization's external environment?

Consumer products firms such as Clorox, Procter & Gamble, and Colgate-Palmolive spend millions of dollars each year on marketing research to identify trends in consumer preferences and buying decisions. This activity is most helpful to a firm in the __________ stage of the decision-making process.

The second step of the decision-making process deals with the results the organization wants to attain. This step is referred to as

__________ refer to the results the organization wants to attain.

Objectives can be expressed for long spans of time (years or decades) or for short spans of time (hours, days, or months) . Long-range objectives usually direct much of the decision-making of the organization, while short-range objectives usually guide decision-making.

The CEO of ITT Industries, knows that the identification of both long-range and short-range organizational targets is important in order for effective decision-making to occur. The identification of these targets occurs in the __________ step of the decision-making process.

Following the decision-making process, what should the CEO of Chase Manhattan Corp., do after he identifies the opportunities and diagnoses the problems facing Chase Manhattan?

According to our textbook, the step in the decision-making process that requires the most creativity and imagination is

Which step in the decision-making process best lends itself to the use of brainstorming, nominal group technique, and the Delphi technique?

The step in the decision-making process that asks the question, "Which solution is best? is referred to as

Don Jacobs is currently determining the relative advantages and disadvantages of the alternatives generated by a team of employees. This step in the decision-making process is referred to as

Sensitivity to the needs of the people who will be affected by a decision and proper consideration of the resources necessary to carry out the decision are key attributes of the __________ stage in the decision-making process.

After a major decision is made, it is important to observe the impact of the decision and take corrective action if the decision does not produce positive results. This step in the decision-making process is referred to as

Although timely and accurate information is useful in every stage of the decision-making process, it is especially critical for

Two major models of decision-making are

Quiz 6: Managerial Decision Making

What is the first step in the decision-making process?

The first step in the decision-making process is

Before a new resort, Marriott does an exhaustive amount of marketing research of a variety of demographic variables. Which stage of the decision-making process requires managers to place a premium on obtaining accurate, reliable information about the organization's external environment?

Consumer products firms such as Clorox, Procter & Gamble, and Colgate-Palmolive spend millions of dollars each year on marketing research to identify trends in consumer preferences and buying decisions. This activity is most helpful to a firm in the __________ stage of the decision-making process.

The second step of the decision-making process deals with the results the organization wants to attain. This step is referred to as

__________ refer to the results the organization wants to attain.

Objectives can be expressed for long spans of time (years or decades) or for short spans of time (hours, days, or months) . Long-range objectives usually direct much of the __________ decision-making of the organization, while short-range objectives usually guide __________ decision-making.

The CEO of ITT Industries, knows that the identification of both long-range and short-range organizational targets is important in order for effective decision-making to occur. The identification of these targets occurs in the __________ step of the decision-making process.

Following the decision-making process, what should the CEO of Chase Manhattan Corp., do after he identifies the opportunities and diagnoses the problems facing Chase Manhattan?

According to our textbook, the step in the decision-making process that requires the most creativity and imagination is

Which step in the decision-making process best lends itself to the use of brainstorming, nominal group technique, and the Delphi technique?

The step in the decision-making process that asks the question, "Which solution is best? is referred to as

Don Jacobs is currently determining the relative advantages and disadvantages of the alternatives generated by a team of employees. This step in the decision-making process is referred to as

Sensitivity to the needs of the people who will be affected by a decision and proper consideration of the resources necessary to carry out the decision are key attributes of the __________ stage in the decision-making process.

After a major decision is made, it is important to observe the impact of the decision and take corrective action if the decision does not produce positive results. This step in the decision-making process is referred to as

Although timely and accurate information is useful in every stage of the decision-making process, it is especially critical for

Two major models of decision-making are

Objectives can be expressed for long spans of time (years or decades) or for short spans of time (hours, days, or months) . Long-range objectives usually direct much of the decision-making of the organization, while short-range objectives usually guide decision-making.