MCQs > Finance & Management > Business Management MCQs > Making Decisions & implemented in management today MCQs

Making Decisions & implemented in management today MCQ

Making Decisions & implemented  in management today MCQ

1. During the _____ stage of the problem solving process, you select a course of action.

Answer

Correct Answer: Choice

Note: This Question is unanswered, help us to find answer for this one

2. High volume, high velocity, and high variety are terms that define which concept?

Answer

Correct Answer: Big data

Note: This Question is unanswered, help us to find answer for this one

3. When people continue to invest in failing courses of action to recoup their losses, hoping to show they have made the right decision all along is known as Sunk Costs Fallacy.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

4. Making a decision that is satisfactory and optimal is known as Satisficing.

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

5. Evaluation of the likelihood that a damaging event might negatively affect an organization is known as ?

Answer

Correct Answer: Risk Analysis

Note: This Question is unanswered, help us to find answer for this one

6. If one of two alternatives is recognized, inferring that it has the Lower value on the criterion in question is known as Recognition Heuristic.

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

7. A way of understanding the perceptions people have of risks when making decisions is known as ?

Answer

Correct Answer: Prospect Theory

Note: This Question is unanswered, help us to find answer for this one

8. The application of advanced _____ methods to make better decisions about business operations.

Answer

Correct Answer: Analytic

Note: This Question is unanswered, help us to find answer for this one

9. Management Analytics encompasses _____ analytics.

Answer

Correct Answer: Behavioral and Operational

Note: This Question is unanswered, help us to find answer for this one

10. Responses that are reached with little apparent effort, and typically without conscious awareness; they involve more conscious deliberation is known as Intuition.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

11. The urgent need to solve the problem faced, regardless of the monetary _____ expected is known as Intrinsic Motivation.

Answer

Correct Answer: Rewards

Note: This Question is unanswered, help us to find answer for this one

12. Heuristic entailing following best practices?

Answer

Correct Answer: Limiting the Successful

Note: This Question is unanswered, help us to find answer for this one

13. Heuristic entailing doing what most people do?

Answer

Correct Answer: Limiting the Majority

Note: This Question is unanswered, help us to find answer for this one

14. “The tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated” before knowing the outcome (Hawkins & Hastie, 1990) is known as?

Answer

Correct Answer: Both A and B

Note: This Question is unanswered, help us to find answer for this one

15. Heuristics is a mental shortcut that allows people to solve problems and make judgments _____ .

Answer

Correct Answer: Quickly and Efficiently

Note: This Question is unanswered, help us to find answer for this one

16. The choice to present questions as gains or losses is called Framing.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

17. When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

18. Expertise refers to knowledge of ?

Answer

Correct Answer: All of Mentioned

Note: This Question is unanswered, help us to find answer for this one

19. When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.

Answer

Correct Answer: All of the Above

Note: This Question is unanswered, help us to find answer for this one

20. Resources that should be allocated equally are called Equality Heuristic.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

21. _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.

Answer

Correct Answer: All of the Above

Note: This Question is unanswered, help us to find answer for this one

22. Creative Thinking Skills refers to how adaptable and imaginative _____ are.

Answer

Correct Answer: Individuals

Note: This Question is unanswered, help us to find answer for this one

23. The use of data to help managers gain improved insight about _____ operations is called Business Analytics.

Answer

Correct Answer: Business

Note: This Question is unanswered, help us to find answer for this one

24. The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.

Answer

Correct Answer: Decision Makers

Note: This Question is unanswered, help us to find answer for this one

25. Collections of large amounts of data; it has been defined in terms of

Answer

Correct Answer: All of the mentioned

Note: This Question is unanswered, help us to find answer for this one

26. The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.

Answer

Correct Answer: Predictors and Outcomes

Note: This Question is unanswered, help us to find answer for this one

27. The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.

Answer

Correct Answer: Collection and Analysis

Note: This Question is unanswered, help us to find answer for this one

28. Using ______ is an effective way for organizations to make routine decisions and better manage information.

Answer

Correct Answer: heuristics

Note: This Question is unanswered, help us to find answer for this one

29. Expertise, creative thinking skills, and ______ are parts of the three-component model of creativity.

Answer

Correct Answer: intrinsic motivation

Note: This Question is unanswered, help us to find answer for this one

30. When decision makers simplify complex problems to limit the amount of information processing, this is known as ______ rationality.

Answer

Correct Answer: bounded

Note: This Question is unanswered, help us to find answer for this one

31. Companies use business analytics to predict company performance in terms of ______, revenue, and shareholder return.

Answer

Correct Answer: profitability

Note: This Question is unanswered, help us to find answer for this one

32. When managers make a decision that is satisfactory, but not optimal, they engage in which practice?

Answer

Correct Answer: satisficing

Note: This Question is unanswered, help us to find answer for this one

33. Business analytics is considered to be a part of which of the following relationship areas?

Answer

Correct Answer: business intelligence

Note: This Question is unanswered, help us to find answer for this one

34. Which of the following definitions best describes High Velocity?

Answer

Correct Answer: the rate at which data is created

Note: This Question is unanswered, help us to find answer for this one

35. Daniel Kahneman and Amos Tversky won a Nobel Prize in economics for their work on which decision-making theory?

Answer

Correct Answer: Prospect Theory

Note: This Question is unanswered, help us to find answer for this one

36. The “lone genius” working in the lab is an example of a common myth about ______.

Answer

Correct Answer: creativity

Note: This Question is unanswered, help us to find answer for this one

37. How many steps are part of the Rational Decision Making Process?

Answer

Correct Answer: eight

Note: This Question is unanswered, help us to find answer for this one

38. Using money to foster creativity is an example of which creativity myth?

Answer

Correct Answer: Incentive Myth

Note: This Question is unanswered, help us to find answer for this one

39. A manager who continues a failing course of action after receiving negative feedback is engaging in ______ of commitment.

Answer

Correct Answer: escalation

Note: This Question is unanswered, help us to find answer for this one

40. The five critical decisions that could make or break a manager’s career include hiring, firing, clarifying and dealing decisively with ethics, navigating “fork-in-the-road

Answer

Correct Answer: recognizing and responding to mistakes

Note: This Question is unanswered, help us to find answer for this one

41. If managers are going to rely on ______ to help make decisions, they must be aware of the positive and negative effects.

Answer

Correct Answer: intuition

Note: This Question is unanswered, help us to find answer for this one

42. When people continue to invest in failing courses of action to recoup their losses, hoping to show they have made the right decision all along is known as Sunk Costs Fallacy.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

43. Making a decision that is satisfactory and optimal is known as Satisficing.

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

44. Evaluation of the likelihood that a damaging event might negatively affect an organization is known as ?

Answer

Correct Answer: Risk Analysis

Note: This Question is unanswered, help us to find answer for this one

45. If one of two alternatives is recognized, inferring that it has the Lower value on the criterion in question is known as Recognition Heuristic.

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

46. A way of understanding the perceptions people have of risks when making decisions is known as ?

Answer

Correct Answer: Prospect Theory

Note: This Question is unanswered, help us to find answer for this one

47. The application of advanced _____ methods to make better decisions about business operations.

Answer

Correct Answer: Analytic

Note: This Question is unanswered, help us to find answer for this one

48. Management Analytics encompasses _____ analytics.

Answer

Correct Answer: Behavioral and Operational

Note: This Question is unanswered, help us to find answer for this one

49. Responses that are reached with little apparent effort, and typically without conscious awareness; they involve more conscious deliberation is known as Intuition.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

50. The urgent need to solve the problem faced, regardless of the monetary _____ expected is known as Intrinsic Motivation.

Answer

Correct Answer: Rewards

Note: This Question is unanswered, help us to find answer for this one

51. Heuristic entailing following best practices?

Answer

Correct Answer: Limiting the Successful

Note: This Question is unanswered, help us to find answer for this one

52. Heuristic entailing doing what most people do?

Answer

Correct Answer: Limiting the Majority

Note: This Question is unanswered, help us to find answer for this one

53. “The tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated” before knowing the outcome (Hawkins & Hastie, 1990) is known as?

Answer

Correct Answer: Both A and B

Note: This Question is unanswered, help us to find answer for this one

54. Heuristics is a mental shortcut that allows people to solve problems and make judgments _____ .

Answer

Correct Answer: Quickly and Efficiently

Note: This Question is unanswered, help us to find answer for this one

55. The choice to present questions as gains or losses is called Framing.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

56. When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

57. Expertise refers to knowledge of ?

Answer

Correct Answer: All of Mentioned

Note: This Question is unanswered, help us to find answer for this one

58. When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.

Answer

Correct Answer: All of the Above

Note: This Question is unanswered, help us to find answer for this one

59. Resources that should be allocated equally are called Equality Heuristic.

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

60. _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.

Answer

Correct Answer: All of the Above

Note: This Question is unanswered, help us to find answer for this one

61. Creative Thinking Skills refers to how adaptable and imaginative _____ are.

Answer

Correct Answer: Individuals

Note: This Question is unanswered, help us to find answer for this one

62. The use of data to help managers gain improved insight about _____ operations is called Business Analytics.

Answer

Correct Answer: Business

Note: This Question is unanswered, help us to find answer for this one

63. The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.

Answer

Correct Answer: Decision Makers

Note: This Question is unanswered, help us to find answer for this one

64. Collections of large amounts of data; it has been defined in terms of

Answer

Correct Answer: All of the mentioned

Note: This Question is unanswered, help us to find answer for this one

65. The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.

Answer

Correct Answer: Predictors and Outcomes

Note: This Question is unanswered, help us to find answer for this one

66. The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.

Answer

Correct Answer: Collection and Analysis

Note: This Question is unanswered, help us to find answer for this one

search
Business Management Subjects