marketing topic 6

What is the process by which managers respond to opportunities and threats by analyzing options and making determinations about specific organizational goals and courses of action?

• Reasoned judgment

• Intuition

• Heuristics

• Decision making

What type of decision making involves routine, virtually automatic decision making that follows established rules or guidelines?

• Reasoned judgment

• Programmed decision

• Intuition

• Nonprogrammed decisions

What is the cognitive bias resulting from the tendency to generalize inappropriately from a small sample or from a single vivid event or episode?

• Escalating commitment

• Confirmation Bias

• Representativeness

• Illusion of control

What is the approach to decision making that explains why decision making is inherently uncertain and risky and why managers usually make satisfactory rather than optimum decisions?

• Administrative model

• Bounded rationality

• Classical model

• Optimum decision

What is the decision-making technique in which group members do not meet face-to-face but respond in writing to questions posed by the group leader?

• Nominal group technique

• Delphi technique

• Brainstorming

• Production blocking

What is the decision maker's ability to discover original and novel ideas that lead to feasible alternative courses of action?

• Incomplete information

• Creativity

• Bounded rationality

• Organizational learning

Who are individuals who notice opportunities and decide how to mobilize the resources necessary to produce new and improved goods and services?

• Product champion

• Entrepreneurs

• Intrapreneurs

• Social entrepreneurs

What is the group of intrapreneurs who are deliberately separated from the normal operation of an organization to encourage them to devote all their attention to developing new products?

• Skunkworks

• Nominal group technique

• Delphi technique

• Brainstorming

What is the prescriptive approach to decision making based on the assumption that the decision maker can identify and evaluate all possible alternatives and their consequences and rationally choose the most appropriate course of action?

• Classical model

• Administrative model

• Optimum decision

• Bounded rationality

What is the pattern of faulty and biased decision making that occurs in groups whose members strive for agreement among themselves at the expense of accurately assessing information relevant to a decision?

• Groupthink

• Delphi technique

• Brainstorming

• Nominal group technique