Decision-Making Quiz

What is the fundamental process of management?

• Problem-Solving

• Decision-Making

• Organizing

• Planning

What is the limiting factor in decision-making?

• Money

• Human Abilities

• Time

• Technology

What does analysis paralysis refer to?

• Making quick decisions without analyzing the situation

• Relying on intuition for decision-making

• Inability to make a decision due to over-thinking a problem

• Ignoring data while making a decision

What is bounded rationality in decision-making?

• Making decisions based on emotions

• Limit as control in making decision because of costs, human abilities, time, technology and the availability of information

• Making decisions without considering costs

• Unlimited control in making decisions

What is sub-optimization in decision-making?

• Relying on luck for decision-making

• Making decisions based on personal preferences

• The result of each different department's attempt to reach a solution that is optimum for their department

• Ignoring the opinions of others while making a decision

What does an effective manager concentrate on while making a decision?

• The decision with the most popular opinion

• The decision with the least impact

• The decision with the highest level of conceptual understanding

• The easiest decision to make

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

• Develop alternatives

• Identify the problem

• Select the best alternatives

• Monitor results

What is the purpose of providing alternatives to a decision?

• To discourage the decision maker

• To limit the decision maker's options

• To stimulate the imagination

• To restrict the decision-making process

What is the first element of the decision-making process?

• Building into the decision of the action to carry it out

• Defining the specifications

• Thinking through what is right

• Feedback

What does a decision tree analysis describe?

• A diagram that describes the consequences of not making a decision

• A diagram that describes the decision-making process

• A diagram that describes a decision under consideration and the implications of choosing one or another of the available alternatives

• A diagram that describes the history of decision-making