MNGT 361 TEST QUESTIONS WITH
100% CORRECT ANSWERS
What is a heuristic? - Answer-a shortcut or rule of thumb that is used for decision
making
The three main models that mangers use to make decisions are _____ - Answer-
rational, bounded rational, intuitive
Which of the following best describes a satisfice? - Answer-accepts a less than perfect
solution
Sticking to a decision despite evidence that it is a mistake is called - Answer-escalation
of commitment
Following the directions to put together an exercise machine is an example of which
way to solve a problem? - Answer-procediure
Which three decisions do decision makers face? - Answer-certainty, risk, uncertainty
What tends to be the most successful group size? - Answer-5-15
One advantage of group decision making is that it usually provides - Answer-more
information
Which of the following is NOT a reason for managers to plan? - Answer-to establish
responsibility for mistakes
Which of the following is a frequently cited criticism of formal planning? - Answer-Plans
lock organizations into rigid goals and timetables
Formal planning leads to which of the following? - Answer-higher profits
The first step in the strategic management process is to - Answer-identify the
organization's mission
An external analysis, the second step of the strategic management process , helps
identify - Answer-a company's opportunities and threats
100% CORRECT ANSWERS
What is a heuristic? - Answer-a shortcut or rule of thumb that is used for decision
making
The three main models that mangers use to make decisions are _____ - Answer-
rational, bounded rational, intuitive
Which of the following best describes a satisfice? - Answer-accepts a less than perfect
solution
Sticking to a decision despite evidence that it is a mistake is called - Answer-escalation
of commitment
Following the directions to put together an exercise machine is an example of which
way to solve a problem? - Answer-procediure
Which three decisions do decision makers face? - Answer-certainty, risk, uncertainty
What tends to be the most successful group size? - Answer-5-15
One advantage of group decision making is that it usually provides - Answer-more
information
Which of the following is NOT a reason for managers to plan? - Answer-to establish
responsibility for mistakes
Which of the following is a frequently cited criticism of formal planning? - Answer-Plans
lock organizations into rigid goals and timetables
Formal planning leads to which of the following? - Answer-higher profits
The first step in the strategic management process is to - Answer-identify the
organization's mission
An external analysis, the second step of the strategic management process , helps
identify - Answer-a company's opportunities and threats
