GMS 200: Chapter 7 questions with
complete solutions
Analytical Competency - correct answer ✔✔The ability to evaluate and analyze information to make
actual decisions and solve real problems
Analytics - correct answer ✔✔The systematic gathering and processing of data to make informed
decisions
Anchoring and Adjustment Bias - correct answer ✔✔Decision-making based on incremental adjustments
from a prior decision point
Availability Bias - correct answer ✔✔Decision-making based on recent information or events
Behavioural Decision Model - correct answer ✔✔Decision-making with limited information and bounded
rationality
Big-C Creativity - correct answer ✔✔What occurs when extraordinary things are done by exceptional
people
Big Data - correct answer ✔✔Data that exist in huge quantities and are difficult to process without
sophisticated mathematical and computing techniques
Bounded Rationality - correct answer ✔✔Making decisions within the constraints of limited information
and alternatives
Business Intelligence - correct answer ✔✔The process of tapping information systems to extract and
report data in organized ways that are helpful to decision-makers
, Certain Environment - correct answer ✔✔An environment that offers complete information on possible
action alternatives and their consequences.
Classical Decision Model - correct answer ✔✔Decision making with complete information
Cognitive Styles - correct answer ✔✔The ways individuals deal with information while making decisions
Confirmation Error - correct answer ✔✔What occurs when focusing only on information that confirms a
decision already made
Cost-Benefit Analysis - correct answer ✔✔A comparison of the cost and benefits of each potential
course of action
Creativity - correct answer ✔✔The generation of a novel idea or unique approach that solves a problem
or crafts an opportunity
Crisis Decision - correct answer ✔✔A decision required when an unexpected problem arises that can
lead to disaster if not resolved quickly and appropriately
Data - correct answer ✔✔Raw facts and observations
Data Mining - correct answer ✔✔The process of analyzing data to produce useful information for
decision makers
Decision - correct answer ✔✔A choice among possible alternative courses of action
Decision-Making Process - correct answer ✔✔A process that begins with identification of a problem and
ends with evaluation of results
Design Thinking - correct answer ✔✔Thinking that unlocks creativity in decision-making through a
process of experiencing, ideation, and prototyping
complete solutions
Analytical Competency - correct answer ✔✔The ability to evaluate and analyze information to make
actual decisions and solve real problems
Analytics - correct answer ✔✔The systematic gathering and processing of data to make informed
decisions
Anchoring and Adjustment Bias - correct answer ✔✔Decision-making based on incremental adjustments
from a prior decision point
Availability Bias - correct answer ✔✔Decision-making based on recent information or events
Behavioural Decision Model - correct answer ✔✔Decision-making with limited information and bounded
rationality
Big-C Creativity - correct answer ✔✔What occurs when extraordinary things are done by exceptional
people
Big Data - correct answer ✔✔Data that exist in huge quantities and are difficult to process without
sophisticated mathematical and computing techniques
Bounded Rationality - correct answer ✔✔Making decisions within the constraints of limited information
and alternatives
Business Intelligence - correct answer ✔✔The process of tapping information systems to extract and
report data in organized ways that are helpful to decision-makers
, Certain Environment - correct answer ✔✔An environment that offers complete information on possible
action alternatives and their consequences.
Classical Decision Model - correct answer ✔✔Decision making with complete information
Cognitive Styles - correct answer ✔✔The ways individuals deal with information while making decisions
Confirmation Error - correct answer ✔✔What occurs when focusing only on information that confirms a
decision already made
Cost-Benefit Analysis - correct answer ✔✔A comparison of the cost and benefits of each potential
course of action
Creativity - correct answer ✔✔The generation of a novel idea or unique approach that solves a problem
or crafts an opportunity
Crisis Decision - correct answer ✔✔A decision required when an unexpected problem arises that can
lead to disaster if not resolved quickly and appropriately
Data - correct answer ✔✔Raw facts and observations
Data Mining - correct answer ✔✔The process of analyzing data to produce useful information for
decision makers
Decision - correct answer ✔✔A choice among possible alternative courses of action
Decision-Making Process - correct answer ✔✔A process that begins with identification of a problem and
ends with evaluation of results
Design Thinking - correct answer ✔✔Thinking that unlocks creativity in decision-making through a
process of experiencing, ideation, and prototyping
