SOLVED

1) Decision making would be best described as an exercise in a. establishing criteria and strategies to advance our goals. b. evaluating and analyzing options. c. making choices between two or more options. d. making opportunities work. e. focusing on advancement and progression through opportunities. 2) The catalyst for initiating the decision-making process is a. a problem. b. a solution. c. rationalization. d. a concept. e. a change agent. 3) A potential customer has indicated that he is willing to buy a substantial amount of your product, albeit at a lower price than is typically charged to existing customers. This potential customer has further indicated that, if she is satisfied with the quality of the product, more orders would follow in the future. Your company now has to consider whether this unexpected order should be accepted. This situation represents a(n) a. dilemma. b. problem. c. opportunity. d. commitment. e. catalyst. 4) What is the first step in the rational decision-making process? a. establishing and evaluating alternatives to solve the problem b. defining the problem c. seeking out the reasons for the problem d. determining the criteria that will be used to make the decision e. doing the research necessary in order to define the problem 5) According to the rational decision-making model, factors affecting the decision and their importance are identified and considered when a. identifying decision criteria. b. developing alternatives. c. evaluating alternatives. d. defining the problem. e. selecting the best alternative. 6) If you calculate your monthly expenses and find that you are spending $50 more than your monthly earnings, you have engaged in which step of the rational decision-making model? a. identifying decision criteria b. developing alternatives c. evaluating alternatives d. defining the problem e. selecting the best alternative 7) Allocating weights to the decision criteria is unnecessary if a. all criteria are relevant. b. all criteria are equally important. c. there are only two decision criteria. d. the decision is being made by an individual. e. a team is making the decision. 8) The assumptions underlying the rational decision-making model include a. unknown options. b. unclear preferences. c. time constraints. d. cost constraints. e. maximum payoff. 9) Decisions made using the rational decision-making model can be described as a. value maximizing. b. inconsistent. c. being based on the most easily available information. d. most important. e. minimum acceptable. 10) Hiring the ________ person to do the job is an example of a(n) ________ decision, while hiring a ________ person to do the job is an example of a(n) ________ decision. a. best-qualified; satisficing; the perfect; optimal b. best-qualified; optimal; competent; satisficing c. best-qualified; good; competent; perfect d. perfect; satisfactory; best-qualified; good e. best-qualified; good; competent; limited 1