What is considered a manager's primary responsibility?
To oversee the work of other people so organizational goals can be accomplished
Which statement best explains why it is difficult to differentiate between managerial and nonmanagerial employees?
Many traditional nonmanagerial jobs now include managerial activities.
Which of the following is considered the most important variable in employee productivity and loyalty within an organization?
The quality of the relationship between an employee and a direct supervisor
Managers play a crucial role in identifying and responding to all of the following organizational challenges
changing workforce dynamics
increasing globalization
worldwide economic climate
changing technology
Which statement BEST explains how managerial job performance should be evaluated?
Effectiveness and efficiency go hand in hand, and a good manager accomplishes both.
Fayol identified the management functions as planning, organizing, commanding, coordinating, and controlling. Which of the following accurately describes the controlfunction?
The control function involves monitoring and evaluating performance to ensure goals are met and work is done as it should be.
Which of the following statements about the changing nature of management in today's marketplace is most likely true?
Taking risks, exploring new territories, and trying new methods are innovative tactics that management can use to be more successful in the marketplace.
Today's marketplace is very fluid with an increase in competition and customers who are more discerning and better informed. How has management changed inresponse?
Managers are recognizing that delivering consistent, high-quality customer service is essential for survival and success in today's competitive environment and that employees are an important part of that equation.
What is the value of studying management even if you plan to pursue a career that requires a professional certification such as a CPA, doctor, or attorney?
Management is universally needed in all organizations.
Which statement about studying management is most likely true?
Studying management is important because by learning management theory, one will be able to apply these concepts in a variety of situations, to maximizeefficiency, productivity, employee satisfaction, and personal success.
Which of the following best defines evidence-based management?
Using the best available information to improve management practice
You aren't looking for the "sharpest needle in the haystack"; you only want one that is sharp enough to sew with.
satisficing
A manager who is fully informed, completely logical, and makes choices that are intended to maximize value is utilizing ________.
rational decision making
What does it mean to be a "rational" decision maker?
A rational decision maker is fully objective and logical, has a clear and specific goal, and knows all possible alternatives and consequences.
According to the concept of bounded rationality, managers make decisions ________.
rationally, but are limited by their ability to process information
Intuitive decision making involves making decisions on the basis of ________.
experience, feelings, and accumulated judgment
Which of the following best defines evidence-based management?
Using the best available information to improve management practice
Structured problems are ________.
straightforward, familiar, and easily defined
A clerk at a department store cannot issue a refund for a customer unless the customer produces a store receipt. The customer informs the clerk that he never received a receipt in the first place. The clerk escalates the issue to a manager for resolution. The manager's resolution is an example of a ________.
nonprogrammed decision
Generally speaking, the decision most closely associated with a structured problem is referred to as a ________.
programmed decision
In uncertain conditions, a decision is influenced by available information and by the psychological orientation of the person making the decision. Jordan is an optimistic individual; thus, we would think he will most likely opt for a ________ choice.
maximax
In uncertain conditions, a decision is influenced by the information that is available and by the psychological orientation of the person making the decision. A pessimistic manager will most likely opt for a ________ choice.
maximin
maximin
maximize the minimum payout
When managers have and use information that allows them to determine the probabilities of different alternatives, this is most likely an attempt to deal with ________.
risk
Which of the following statements about effective decision making is true?
Good decision making is a learned skill.
The 3Vs of big data
volume, velocity, and variety
What is the LEAST likely reason that making decisions in today's business environment is difficult?
Decisions are rarely risky.
why is making decisions in todays business environment difficult?
Market landscapes can shift dramatically overnight along several
dimensions.
Decisions are usually made with incomplete
information.
Competitors enter and exit markets
quickly.
Customers come and go with the click of a mouse
or the swipe of a screen.
All of the following are guidelines to help you be a better decision maker EXCEPT ________.
relying on an intuitive decision-making process
When making a decision, managers who use design thinking look at problem identification collaboratively and integratively. Which of the following do they also consider?
Both the rational and emotional aspects
"Big data" is best characterized as ________.
high volume, high velocity, and/or high variety information assets
The gap between an existing state and a desired state is referred to as ________.
a problem
Andrew must buy a new office copier. He lists the features the copier must have, such as a built-in scanner, color copying, and an automatic document feeder, along with how much he can spend. Which step of the decision-making process does this represent?
Identifying decision criteria
Andrew goes to the office supply store and talks to a sales representative, who shows him several copiers that can meet his needs. Which step of the decision-making process does this represent?
Developing alternatives
Factors that are important or relevant to resolving a problem are referred to as ________.
decision criteria
After looking at several copiers, Andrew decides to buy one. He knows other models might be available elsewhere, but he doesn't have time to keep looking, and the one he is buying seems to meet his needs. This is an example of ________.
satisficing
The saying, "throwing good money after bad," meaning that you continue to waste money on a losing proposition, best describes ________.
escalation of commitment
__________ refers to the concept that many managers lack the time and the ability to process all of the alternatives to solve a problem.
Bounded Rationality
Heidi is the marketing manager at a large winery. The expensive ad campaign she planned has flopped so far, but instead of scrapping it and trying something else, Heidi decides to invest more money in the campaign and run ads in even more publications. This is an example of ________.
escalation of commitment
Alicia is convinced that she can tell more about a job applicant in a 5-minute interview than through pre-employment tests or reference checks and insists that her gut instincts are never wrong. Alicia is using ________.
intuitive decision making
The data-driven, systematic use of the best available facts and information to improve management practice is referred to as ________.
evidence-based management (EBMgt)
The office manager has to place another order for copy paper, so he checks the office supply company's website to see if either of his preferred brands is on sale before placing the order. This is an example of a(n) ________.
programmed decision
Brandi's Bakery has received its first major commercial order, and the owner needs to determine if she can fill this order on her own or if she needs to hire an employee. This is an example of ________.
an unstructured problem
A sign in the college bookstore states that students can return a textbook only if it is still shrink-wrapped and returned within the first 10 days of the semester. This is an example of a(n) ________.
rule
Cashiers at the supermarket are allowed to adjust the price of an item up to a maximum of $5.0 without getting the manager's approval. This would best be described as a(n) ________.
policy
In order to make exchanges or returns at a clothing retailer, customer service representatives must follow an established series of steps, such as checking the receipt, inspecting the item for damage, and issuing a store credit. This is an example of a(n) ________.
procedure
A manager can make the most accurate decision under a situation of ________ because the outcome of every alternative is known.
certainty
In making decisions, global managers need to consider the values, beliefs, and attitudes of the people involved. Which guideline for effective decision making does thisrepresent?
understand cultural differences
Instead of identifying and evaluating alternatives with logic and deductive reasoning, a manager using ________ would try to envision and entertain new and innovative solutions to a problem.
design thinking
Which of the following managers is using big data in decision making?
A large retailer uses software to adjust prices in real time for more than 70 million items based on demand and inventory.