Making Decisions & implemented in management today MCQs
Making Decisions & implemented in management today MCQs
Answer these 60+ Making Decisions & implemented in management today MCQs and see how sharp is your knowledge of Making Decisions & implemented in management today. Scroll down and let's start!
1: The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.
A. Collection only
B. Analysis only
C. Collection and Analysis
D. None of the Above
2: The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.
A. Predictors only
B. Outcomes only
C. Predictors and Outcomes
D. Predictors and Explanation
3: Collections of large amounts of data; it has been defined in terms of
A. High volume
B. HIgh velocity
C. High variety
D. All of the mentioned
4: The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.
A. Decision Makers
B. Spokesperson
C. Disseminator
D. Monitor
5: The use of data to help managers gain improved insight about _____ operations is called Business Analytics.
A. Business
B. Employee
C. Management
D. None of the Above
6: Creative Thinking Skills refers to how adaptable and imaginative _____ are.
A. Society
B. Individuals
C. Organization
D. Department
7: _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.
A. Creativity
B. Vision
C. Artistry
D. All of the Above
8: Resources that should be allocated equally are called Equality Heuristic.
A. True
B. False
9: When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.
A. Feedback
B. Response
C. Assessment
D. All of the Above
10: Expertise refers to knowledge of ?
A. Technical
B. Processes
C. Academic
D. All of Mentioned
11: When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.
A. True
B. False
12: The choice to present questions as gains or losses is called Framing.
A. True
B. False
13: Heuristics is a mental shortcut that allows people to solve problems and make judgments _____ .
A. Quickly only
B. Efficiently only
C. Quickly and Efficiently
D. All of the Above
14: “The tendency for individuals with outcome knowledge to claim they would have estimated a probability of occurrence for the reported outcome that is higher than they would have estimated” before knowing the outcome (Hawkins & Hastie, 1990) is known as?
A. Hindsight Bias
B. I knew it all along Effect
C. Both A and B
D. None of the Above
15: Heuristic entailing doing what most people do?
A. Limiting the Majority
B. Limiting the Motivation
C. Limiting the Successful
D. None of the Above
16: Heuristic entailing following best practices?
A. Limiting the Majority
B. Limiting the Motivation
C. Limiting the Successful
D. None of the Above
17: The urgent need to solve the problem faced, regardless of the monetary _____ expected is known as Intrinsic Motivation.
A. Rewards
B. Honour
C. Profit
D. Both B and C
18: Responses that are reached with little apparent effort, and typically without conscious awareness; they involve more conscious deliberation is known as Intuition.
A. True
B. False
19: Management Analytics encompasses _____ analytics.
A. Behavioral and Operational
B. Behavioral and Management
C. Behavioral only
D. Management Only
20: The application of advanced _____ methods to make better decisions about business operations.
A. Experimental
B. Analytic
C. Survey
D. Questionnaire
21: A way of understanding the perceptions people have of risks when making decisions is known as ?
A. Prospect Theory
B. Classic Theory
C. Logical Theory
D. Scientific Theory
22: If one of two alternatives is recognized, inferring that it has the Lower value on the criterion in question is known as Recognition Heuristic.
A. True
B. False
23: Evaluation of the likelihood that a damaging event might negatively affect an organization is known as ?
A. Risk Analysis
B. Causal Analysis
C. Mechanistic Analysis
D. Descriptive Analysis
24: Making a decision that is satisfactory and optimal is known as Satisficing.
A. True
B. False
25: When people continue to invest in failing courses of action to recoup their losses, hoping to show they have made the right decision all along is known as Sunk Costs Fallacy.
A. True
B. False
26: If managers are going to rely on ______ to help make decisions, they must be aware of the positive and negative effects.
A. decision traps
B. intuition
C. the Rational Decision Making process
D. common sense
27: The five critical decisions that could make or break a manager’s career include hiring, firing, clarifying and dealing decisively with ethics, navigating “fork-in-the-road
A. creating an effective support network
B. choosing the best method of feedback
C. knowing when to admit faults
D. recognizing and responding to mistakes
28: A manager who continues a failing course of action after receiving negative feedback is engaging in ______ of commitment.
A. escalation
B. cessation
C. repetition
D. embrace
29: Using money to foster creativity is an example of which creativity myth?
A. Expert Myth
B. Bonus Myth
C. Incentive Myth
D. Eureka Myth
30: How many steps are part of the Rational Decision Making Process?
A. eight
B. five
C. six
D. ten
31: The “lone genius” working in the lab is an example of a common myth about ______.
A. management style
B. leadership
C. decision making
D. creativity
32: Daniel Kahneman and Amos Tversky won a Nobel Prize in economics for their work on which decision-making theory?
A. Heuristic Theory
B. Option Theory
C. Impact Theory
D. Prospect Theory
33: Which of the following definitions best describes High Velocity?
A. the different types of data
B. the amount or quantity of data
C. the rate at which data is created
34: Business analytics is considered to be a part of which of the following relationship areas?
A. modeling and optimization
B. business intelligence
C. statistics
35: When managers make a decision that is satisfactory, but not optimal, they engage in which practice?
A. rationalizing
B. settling
C. satisficing
D. deoptimizing
36: Companies use business analytics to predict company performance in terms of ______, revenue, and shareholder return.
A. market share
B. profitability
C. ROI
D. declining expenses
37: When decision makers simplify complex problems to limit the amount of information processing, this is known as ______ rationality.
A. perfect
B. bounded
C. limited
D. simplified
38: Expertise, creative thinking skills, and ______ are parts of the three-component model of creativity.
A. external perception
B. emotional intelligence
C. intrinsic motivation
39: Using ______ is an effective way for organizations to make routine decisions and better manage information.
A. logistics
B. heuristics
C. intuition
D. gut-feeling
40: The _____ of data about human behavior, particularly its predictors and outcomes is known as Behavioral Analytics.
A. Collection only
B. Analysis only
C. Collection and Analysis
D. None of the Above
41: The collection and analysis of data about human behavior, particularly its _____ is known as Behavioral Analytics.
A. Predictors only
B. Outcomes only
C. Predictors and Outcomes
D. Predictors and Explanation
42: Collections of large amounts of data; it has been defined in terms of
A. High volume
B. HIgh velocity
C. High variety
D. All of the mentioned
43: The context _____ used to simplify complex problems by limiting the amount of information-processing needed is known as Bounded Rationality.
A. Decision Makers
B. Spokesperson
C. Disseminator
D. Monitor
44: The use of data to help managers gain improved insight about _____ operations is called Business Analytics.
A. Business
B. Employee
C. Management
D. None of the Above
45: Creative Thinking Skills refers to how adaptable and imaginative _____ are.
A. Society
B. Individuals
C. Organization
D. Department
46: _____ is generally thought of as a different but useful solution to a problem, or novel and effective ideas.
A. Creativity
B. Vision
C. Artistry
D. All of the Above
47: Resources that should be allocated equally are called Equality Heuristic.
A. True
B. False
48: When individuals continue a failing course of action after receiving _____ that shows it is not working is known as Escalation of Commitment.
A. Feedback
B. Response
C. Assessment
D. All of the Above
49: Expertise refers to knowledge of ?
A. Technical
B. Processes
C. Academic
D. All of Mentioned
50: When the quickest decision is selected, as when there is a pressing need to bring a new product to market before competition enters, it is called Fluency.
A. True
B. False
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Making Decisions & implemented in management today MCQs
