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MGT 350 Final Exam
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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 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? 3) Bill Simmons is the manager of a small restaurant and must decide how much money he owes his suppliers. The best way for Bill to approach this as a critical thinker is to 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 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 6) When faced with a decision opportunity, a critical thinker must sort through a variety of readily apparent symptoms in order to focus on important considerations that may be hidden. Based on the decision steps model, when framing a problem a helpful step is to 7) Critical thought involves the consideration of diverse perspectives. Disadvantages of group decision making include 8) Tactics for increasing the diversity of opinion brought to bear on a decision include 9) One way for a leader to develop alternative perspectives for decision making is to 10) Considerations when framing a problem include 11) Conflict is a force of influence upon decision making, and may hamper decision implementation if not accounted for in the problem formulation and identification process. Conflict may stem from such factors as 12) The outcome of the process of framing the problem includes 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 14) Survey data, combined with this thinking style, can be used to identify a problem through statistical analysis. 15) A deductive logical argument in proper form is said to be 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 17) An important step toward framing a problem in a manner that is sensitive to relevant stakeholder perspectives is to
18) An appropriate profit relative to funds invested would be a primary consideration of this stakeholder group. 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. 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. 21) A manager may properly choose to ignore a problem 22) A decision tool that can be helpful in identifying risks to contemplated decisions is 23) Shakil works for a large contractor. Company policy requires that in hiring subcontractors, at least three bids must be received and that the lowest bid which meets specifications will be accepted. This programmed decision structure provides for ______ as a benefit, but does not account for ______. 24) Upon review of the customer comment cards dropped in the box in his convenience store, Bob sees that 61% of the customers filling out a card have expressed dissatisfaction with waiting times. Bob decides to add an additional cashier during the day. Bob is using the ______ thinking style in order to make this decision. 25) When deciding between decision alternatives, this tool helps the manager to focus scarce resources on the most common causes of a problem. 26) 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 27) The initial step in framing the problem is to ______, and the first step in making the decision is to ______. 28) Jan has been selected to implement her company’s decision to expand her company’s manufacturing operation into a new location. Six months into this project, the building has been completed, and machinery installed. However, Jan has been unable to secure enough applicants with the technical skills needed to operate this computerized facility. Jan’s implementation plan was most deficient in its consideration of 29) Freda is in the process of implementing a significant decision. Which of the following considerations should she ignore? 30) One way to manage the risk of a far reaching decision is to 31) When implementing a decision, a company must ensure that its actions remain consistent with its 32) Resistance to change during implementation could be a result of 33) ______ plans might be referred to as what-if plans. 34) A company applying a ______ view of ethics would probably find fewer impediments to decisions involving cross cultural factors than one applying a ______ view. 35) Bill is an automotive mechanic, paid on the basis of the repair dollars that he generates for his employer. A customer has informed Bill that he believes he needs major repair work to his automobile. Upon examination of the car, Bill discovers that an inexpensive adjustment is all that is needed. He knows that if
he informs the customer of this, he will miss out on the substantial commission he would earn by performing the work that the customer already expects. The compensation structure employed by Bill’s garage has created the ethical dilemma of 36) The moral principles and standards that guide behavior in the world of business are called 37) In order to develop meaningful measurements to guide decision implementation and evaluation, it is important to develop ______ when framing a problem. 38) A measurement that identifies the degree to which goals and objectives are obtained is a measure of 39) A tool that is helpful in monitoring, evaluating, and changing a decision as needed during implementation is the 40) A company has decided to fund a summer basketball league for young people in the community. The decision will result in increased expenditures with no increase in revenues or profits. In evaluating this decision outcome, the officers of the company must weigh both its ______ responsibility and its ______ responsibility, two components of corporate social responsibility. 41) When evaluating the decision processes in an organization, leaders should consider doing which of the following? 42) In order to apply continuous improvement in decision making, a company should take the time to record not only the results of its decisions, but also the