MGMT 3300 Final Exam UPDATED ACTUAL Exam
Questions and CORRECT Answers!! 2026/2027
Rational Model of decision making - ANSWER--explains
how managers should make decisions. (allows for quality,
transparency, responsibility)
four stages of rational decision making - ANSWER--1. ID
prob.
2. generate solutions
3. select solution
4. evaluate results
,nonrational models of decision making - ANSWER--
explain how managers actually make decisions.
judgemental heuristics - ANSWER--represents cognitive
shortcuts or biases that are used to simplify the process of
making decisions (overconfidence, anchoring, hindsight)
4 decision making styles - ANSWER--1. behavioral (highly
people-orientated decision makers, work well with others)
2. Directive style (low tolerance for ambiguity and are
oriented toward task and technical concerns
3. Analytical (careful and slow decision making w. lots of
info)
, 4. Conceptual (high tolerance for ambiguity and tend to
focus on the people. Think long-term.
Delphi technique - ANSWER--group process that
anonymously generates ideas or judgements from
physically dispersed experts.
two types of intuition - ANSWER--holistic hunches and
automated experiences.
groupthink - ANSWER--Groupthink is a mode of thinking
that people engage in when they are deeply involved in a
cohesive in-group, when members' strivings for unanimity
Questions and CORRECT Answers!! 2026/2027
Rational Model of decision making - ANSWER--explains
how managers should make decisions. (allows for quality,
transparency, responsibility)
four stages of rational decision making - ANSWER--1. ID
prob.
2. generate solutions
3. select solution
4. evaluate results
,nonrational models of decision making - ANSWER--
explain how managers actually make decisions.
judgemental heuristics - ANSWER--represents cognitive
shortcuts or biases that are used to simplify the process of
making decisions (overconfidence, anchoring, hindsight)
4 decision making styles - ANSWER--1. behavioral (highly
people-orientated decision makers, work well with others)
2. Directive style (low tolerance for ambiguity and are
oriented toward task and technical concerns
3. Analytical (careful and slow decision making w. lots of
info)
, 4. Conceptual (high tolerance for ambiguity and tend to
focus on the people. Think long-term.
Delphi technique - ANSWER--group process that
anonymously generates ideas or judgements from
physically dispersed experts.
two types of intuition - ANSWER--holistic hunches and
automated experiences.
groupthink - ANSWER--Groupthink is a mode of thinking
that people engage in when they are deeply involved in a
cohesive in-group, when members' strivings for unanimity
