Mgt 350 final exam guide 7

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MGT 350 Final Exam Guide 7 1)Critical thinking may be stored for use in future decision making. Examples of mechanisms used to “store” critical thinking for future programmed decisions include A. a regression analysis B. a Pareto Chart C. a SWOT Analysis D. a Stakeholder Analysis E. a troubleshooting decision tree 2) Decision tools and techniques influence the use of critical thinking in decision making. According to the decision steps model, what is a proper response when an unstructured problem is presented?

A. Frame the problem B. Measure the impact of a decision C. Make the decision D. Frame alternatives E. Implement a decision 3) Decision opportunities arise when problems or opportunities are recognized through critical thinking. Which of the following components may be a reason that managers ignore problems?

A. The manager prefers risk over certainty.

B. The manager’s sense of urgency toward problems precludes action.

C. The manager is exercising intellectual courage in the face of resistance to problem solving.

D. Some businesses exist in a problem free environment.

E. A lack of intellectual empathy makes it difficult to recognize stakeholder considerations.

4) A critical thinker balances effectiveness and efficiency when deciding how to approach a problem. Depending upon the situation, a proper approach may be to do nothing, to use a ready-made solution, or to design a custom made solution.

Choosing a ready-made solution, rather than designing a custom made solution, implies A. time savings B. greater specificity to the circumstances of the current problem C. gathering diverse perspectives D. more time spent evaluating alternatives E. increased costs 5) Jane has a term paper due, a sick child who needs her attention, and a major project due at work. To save time, she decides to submit a paper for school that is less than her best, but will earn a passing grade. The best description of Jane’s approach is A. satisficing B. creativity C. optimizing D. analyzing 6) Despite all the measures followed, successful decisions are not always guaranteed so it is important to A. develop contingency plans B. accept that some decisions will not work and move on to other issues C. use logical thinking to guarantee a correct outcome D. only allow the most senior leaders to influence decisions E. develop appropriate measurements for the impacts of decisions 7) Critical thought involves the consideration of diverse perspectives. Advantages of this include A. a decision that accounts for the interests of multiple stakeholders B. the leader maintains tighter control over decisions C. greater security over confidential information D. decisions that are more narrowly focused E. quicker decisions for urgent problems 8) The completeness of our thought is limited by selective perception of relevant inputs one example is A. considering the ways in which the current situation differs from substantially similar past experiences B. using brainstorming to gather a number of ideas C. evaluating which stakeholders are most directly affected by a decision

D. using starbursting to ensure that we are considering all relevant questions E. overreliance on past and current experience 9) One way for a leader to develop alternative perspectives for decision making is to A. assign the role of devil’s advocate for meetings B. increase the use of the logical thinking style C. increase the homogeneity of his or her team D. rely on the intellectual component of stereotyping E. apply past decision successes to current decision opportunities 10) During problem formulation, the decision maker must account for the interests of diverse stakeholders. An important step toward this outcome is the establishment of A. measurements for the decision B. timelines and resource allocations C. criteria, goals, and objectives D. contingency plans E. decision Implementation Processes 11) Considerations when framing a problem include A. framing alternative courses of action B. developing contingency plans C. identifying causes of the problem D. measuring the impacts of a decision E. identification of stakeholders affected by the problem 12) The outcome of the process of framing the problem includes A. a timeline for decision implementation B. a list of potential alternative courses of action C. a list of criteria, goals, and objectives for a decision D. the measurements one will use to evaluate the decision E. an assessment of resources needed to execute a decision 13) A form of critical thinking is fair-minded persuasive thinking. When engaging in problem formulation and identification with a group, the fair minded persuader would A. emphasizes affective appeals over data and reason B. communicate only that information which supports the desired decision C. avoid all affective appeals D. emphasize data and reason over affective appeals E. acknowledges the difficulty that his or her position creates for the audience 14) Survey data, combined with this thinking style, can be used to identify a problem through statistical analysis.

A. Scientific B. Deductive logical C. Creative D. Inductive logical 15) This thinking style may be used to frame a problem in general terms through the use of sample data.

A. Deductive logical style B. Creative thinking style C. Inductive logical style D. Persuasive thinking style E. All of the above thinking styles frame a problem in general terms through the use of sample data.

16) Problems may become apparent to stakeholders through the use of tools which compare actual results to expected results. An example of such a tool is a A. Process control chart B. SWOT analysis C. Pareto chart D. Force Field Analysis E. Fishbone diagram 17) Of the decision styles listed below, this one should be used for a non-urgent, yet critical and unusual problem affecting multiple stakeholders.

A. Collaborative/participative

B. Programmed decision making C. Leader decides D. Autocratic 18) Problems may become apparent to stakeholders through the use of tools which compare actual results to expected results. An example of such a tool is a A. SWOT analysis B. Force Field Analysis C. Fishbone diagram D. Pareto chart E. Financial report 19) Identifying programmed decision opportunities—problems with objectively correct answers, solvable through the use of simple rules, policies, or numerical computations—promises this benefit in terms of decision making.

A. Ensures that problems are dealt with in a unique fashion according to their differences B. Ensures that multiple solutions are applied to common problems in order to find the best one C. Provides senior managers with greater visibility to each routine decision made D. Provides decision makers with opportunities for creative problem solving E. Greater efficiency 20) Jan is the owner of a retail store, and is evaluating the need for changes to the store’s commission structure for sales personnel. She has decided to exclude the sales personnel affected from the decision making process. Jan is probably seeking to minimize this force of influence on the decision making process.

A. Resistance from external stakeholders B. Ethical considerations C. Lack of political support D. Self serving bias E. Resource availability 21) Urgent crisis conditions might call for a decision making style that is A. autocratic B. participative C. collaborative D. consensus E. democratic 22) When a manager is attempting to identify root causes, the following tool may be helpful: A. SWOT analysis B. profit and loss statements C. Financial Balance sheet D. Fishbone diagram E. Force field analysis 23) Managers would typically use this tool to develop an overall strategic approach to their business.

A. SWOT Analysis B. Financial reports C. Surveys D. Fishbone diagram E. Gantt chart 24) The state that exists when the probability of success is less than 100% is A. Uncertainty B. Standard deviation C. Risk D. Certainty 25) In the course of developing a SWOT analysis, Bob determines that a large competitor is moving into one of his company’s key service areas. Bob has uncovered A. a weakness B. an opportunity C. a strength D. a threat E. a positive trigger point

26) The initial step in framing the problem is to ______, and the first step in making the decision is to ______.

A. identify the cause of the problem, implement the decision B. identify the problem, identify causes of the problem C. identify the problem, frame alternatives D. evaluate the decision, determine who is affected E. select an alternative, identify the problem 27) When deciding between decision alternatives, this tool helps the manager to focus scarce resources on the most common causes of a problem.

A. Venn Diagram B. SWOT analysis C. Force Field Analysis D. Benchmarking E. Pareto chart 28) In response to declining profits, a company decides that it needs to become world class, but is having difficulty developing an implementation plan around the goal of “becoming world class.” Rather than implement this decision, the company would be well advised to return to the ______ step of decision making.

A. determine measurements B. frame alternatives C. make the decision D. evaluate the decision E. develop criteria, goals, and objectives 29) Bob has been assigned to implement his company’s decision to expand its construction business to its first international market. After bidding on their first project, Bob learns that the power tools purchased for this expansion will not operate on the voltage provided by the host country location. Bob’s implementation plan was most deficient in its consideration of A. ethical standards B. unique standards C. trade restrictions D. cultural factors E. the legal environment 30) A company planned to establish an attraction with a historical theme in an area adjacent to historically significant Civil War battlefields and cemeteries. Once plans were developed and announced, the project was abandoned in the face of objections from local residents, which made it impossible to secure the zoning variances necessary to move forward. This failure of implementation may be most accurately described as a failure to account for A. resistance from external stakeholders B. resistance from internal stakeholders C. resource availability D. organizational mission E. the legal/regulatory environment 31) When implementing a decision, a company must ensure that its actions remain consistent with its A. past practices and procedures B. organizational mission C. employee’s preferences D. manager’s thinking styles E. current resource allocations 32) Since unforeseen circumstances will arise during implementation, a company should invest resources in teaching employees to A. be consistent in their actions B. make decisions C. follow direction D. stay the course in spite of any difficulty E. follow the plan to the letter 33) Resistance to change during implementation could be a result of A. a decision that has been delayed by a lengthy collaborative/participative decision making style B. a problem statement that is not representative of relevant stakeholder interests C. sensitivity to the needs of external stakeholders D. The manager’s decision to allow discussion of both internal and external stakeholder concerns, which introduced conflicting objectives into the problem formulation and identification process

34) A company applying a ______ view of ethics would probably find fewer impediments to decisions involving cross cultural factors than one applying a ______ view.

A. deontological, rule based B. universalist, relativist C. relativist, universalist D. virtue, utlitatarian E. compliant, non-compliant 35) Markus worked last summer as a receptionist in a lawyer's office. During a discussion prompted by the ethics chapter in your text, he commented that he was asked to tell callers that the lawyer was in court when in fact the lawyer was playing golf! He eventually quit the job because he believes that under no circumstance is it permissible to tell a lie.

Markus appears to be following the ethical system referred to as a A. Virtue Ethics B. rule or deontological ethics C. the Taylor Principles D. utilitarianism E. Practical Deliberation 36) A system of rules that governs the ordering of values is referred to as A. Ethics B. DFE C. Corporate legitimacy D. Justice 37) The best way to ensure that a “balanced scorecard� is used to evaluate the success of a decision is to A. compare actual financial results to budgeted amounts B. monitor resource usage C. gather and compile regular feedback from internal and external stakeholders D. monitor the company’s stock price E. ensure that the finance department develops the list of measurements to be applied 38) A tool that is helpful in monitoring, evaluating, and changing a decision as needed during implementation is the A. contingency plan effectiveness audit B. balance sheet cause of change analysis C. financial effectiveness audit D. stakeholder summary analysis E. Plan, Do, Check, Act (PDCA) cycle 39) A measurement that evaluates the amount of inputs used to achieve outputs is a measure of A. organizational efficiency B. organizational fluctuation C. organizational stability D. organizational effectiveness E. organizational precision