©BRIGHTSTARS EXAM SOLUTIONS
11/16/2024 10:16 AM
OBHR 317 Chapter 9 Exam Study Guide.
Decision - answer✔The choice made from two or more alternatives
Rational - answer✔Refers to choices that are consistent and value-maximizing within specified
constraints
Rational decision-making model - answer✔A six-step decision-making model that describes
how individuals should behave in order to maximize some outcome
Problem - answer✔Discrepancy between some current state of affairs and some desired state,
requiring consideration of alternative courses of action
Opportunity - answer✔Occurs when something unplanned happens, giving rise to thoughts
about new ways of proceeding
Problem clarity - answer✔The problem is clear and unambiguous and complete information is
available
Known options - answer✔It's assumed that the decision maker can identify all relevant criteria,
all workable alternatives, and their consequences
Clear preferences - answer✔The criteria and alternatives can be ranked and weighted to reflect
their importance
Constant preferences - answer✔The specific decision making criteria are constant and weights
assigned to them are stable over time
No time or cost constraints - answer✔The decision maker can obtain full information about
criteria and alternatives because there are no time or cost constraints
Maximum payoff - answer✔The decision maker will choose the alternative that yields the
highest perceived value
Bounded rationality - answer✔Limitations on a person's ability to interpret, process, and act on
information
Satisficing - answer✔To provide a solution that is both satisfactory and sufficient
1|Page
11/16/2024 10:16 AM
OBHR 317 Chapter 9 Exam Study Guide.
Decision - answer✔The choice made from two or more alternatives
Rational - answer✔Refers to choices that are consistent and value-maximizing within specified
constraints
Rational decision-making model - answer✔A six-step decision-making model that describes
how individuals should behave in order to maximize some outcome
Problem - answer✔Discrepancy between some current state of affairs and some desired state,
requiring consideration of alternative courses of action
Opportunity - answer✔Occurs when something unplanned happens, giving rise to thoughts
about new ways of proceeding
Problem clarity - answer✔The problem is clear and unambiguous and complete information is
available
Known options - answer✔It's assumed that the decision maker can identify all relevant criteria,
all workable alternatives, and their consequences
Clear preferences - answer✔The criteria and alternatives can be ranked and weighted to reflect
their importance
Constant preferences - answer✔The specific decision making criteria are constant and weights
assigned to them are stable over time
No time or cost constraints - answer✔The decision maker can obtain full information about
criteria and alternatives because there are no time or cost constraints
Maximum payoff - answer✔The decision maker will choose the alternative that yields the
highest perceived value
Bounded rationality - answer✔Limitations on a person's ability to interpret, process, and act on
information
Satisficing - answer✔To provide a solution that is both satisfactory and sufficient
1|Page
