BA 350 Final Exam (Cobb) comprehensive Questions and Answers with 100% Correct Answers | Latest Version

BA 350 Final Exam (Cobb) comprehensive Questions and
Answers with 100% Correct Answers | Latest Version
Question 1.
Bias in decision making
Correct Answer: - based in biases (overconfidence, anchoring, confirmation,
availability) - overestimation of control (escalation of commitment, hindsight bias) -
Individual differences - strength of the organization or constraints

Question 2.
Overconfidence (Bias)
Correct Answer: - ("you don't know what you don't know") - Become overconfident in
our decision-making (that they know more than other people)

Question 3.
Anchoring (Bias)
Correct Answer: - (ex: car buying ’ price) - Tendency to fixate on initial information
that's given to us - Getting fixated on one piece of information

Question 4.
Confirmation (Bias)
Correct Answer: - (look for things that validate what we decided to do) - Where we
seek out info that reaffirms our past judgements

Question 5.
Availability (Bias)
Correct Answer: - Seek out judgements based on information that's readily available
(easily accessible information)

Question 6.
Escalation of Commitment (Bias)
Correct Answer: - ($20 example from class) - When we stick with the decision even
when there is clear evidence that its the wrong decision to be made (in hopes that
someday the business will take off)

Question 7.
Hindsight bias
Correct Answer: - (ex: Covid 19) - After the fact, we look at something and say "I knew
that was going to happen" when in fact we didn't

,Question 8.
Risk Aversion (Bias)
Correct Answer: - When people tend to see a potential gain instead of a loss, they are
going to tend to be more risky than something that is neutral - You end up losing
creativity and innovation

Question 9.
Randomness of Error (Bias)
Correct Answer: - (ex: lottery numbers) - When we try to create meaning out of
random events

Question 10.
Culture
Correct Answer: - Surface Culture - Shallow Culture - Deep Culture

Question 11.
Surface Culture
Correct Answer: - observable patterns - low emotional impact on trust

Question 12.
Shallow Culture
Correct Answer: - unspoken rules - high emotional impact on trust

Question 13.
Deep Culture
Correct Answer: - Collective; Unconscious (beliefs & norms) - Intense emotional
impact on trust

Question 14.
Dimensions of Culture
Correct Answer: - "Culture is the collective programing of the mind that distinguishes
the members of one human group from another" - Geert Hofstede

Question 15.
Departmentalization
Correct Answer: - an organizational structure that separates people into groups, or
departments, based on a particular set of criteria - these departments have their own
leadership and work together to complete tasks

, Question 16.
Span of control
Correct Answer: - The number of subordinates that a manager can direct efficiently
and effectively - describes the number of levels (or layers) and managers in an
organization - All things being equal, the wider or larger the span, the fewer the levels,
and the more employees at each level, the more efficient the organization

Question 17.
Chain of command
Correct Answer: - The unbroken line of authority that extends from the top of the
organization to the lowest echelon and clarifies who reports to whom

Question 18.
Organizational structures
Correct Answer: - Simple - Bureaucracy - Matrix - Virtual (Network) Organization

Question 19.
Simple structure
Correct Answer: - An organizational structure characterized by a low degree of
departmentalization, wide spans of control, authority centralized in a single person,
and little formalization

Question 20.
Bureaucracy structure
Correct Answer: - An organizational structure with highly routine operating tasks
achieved through specialization, very formalized rules and regulations, tasks that are
grouped into functional departments, centralized authority, narrow spans of control,
and decision making that follows the chain of command

Question 21.
Matrix structure
Correct Answer: - An organizational structure that creates dual lines of authority and
combines functional and product departmentalization

Question 22.
Virtual (Network) Organization structure
Correct Answer: - A small, core organization that outsources major business
functions