#1
What is one benefit of using a decision-making framework?
It reduces biases and errors in decision-making.
ExplanationDecision-making frameworks provide structured approaches, minimizing biases and errors.
#2
What is the primary purpose of setting SMART goals?
To ensure goals are measurable and achievable.
ExplanationSMART goals guarantee goals are Specific, Measurable, Achievable, Relevant, and Time-bound for effective pursuit.
#3
What does the acronym SMART stand for in SMART goals?
Specific, Measurable, Achievable, Relevant, Time-bound
ExplanationSMART goals emphasize Specific, Measurable, Achievable, Relevant, and Time-bound criteria for successful goal setting.
#4
What is one way to improve personal effectiveness?
Continuous learning and development.
ExplanationEnhancing personal effectiveness involves a commitment to continuous learning and development for ongoing improvement.
#5
What is one benefit of effective time management?
Improved work-life balance.
ExplanationEffective time management contributes to an improved work-life balance, ensuring a more harmonious and fulfilling lifestyle.
#6
Which of the following is a characteristic of effective decision-makers?
Being open-minded and adaptable.
ExplanationEffective decision-makers exhibit openness and adaptability, crucial for navigating diverse situations.
#7
What is the 'Sunk Cost Fallacy' in decision-making?
Continuing a behavior or endeavor as a result of previously invested resources.
ExplanationSunk Cost Fallacy involves persisting in decisions due to past investments, disregarding current rational analysis.
#8
Which decision-making technique involves listing the pros and cons of each option?
SWOT Analysis
ExplanationSWOT Analysis evaluates Strengths, Weaknesses, Opportunities, and Threats, aiding comprehensive decision assessment.
#9
Which of the following is NOT a step in the rational decision-making model?
Select the most irrational option.
ExplanationThe rational decision-making model excludes choosing irrational options, emphasizing logical and systematic choices.
#10
What does the acronym SWOT stand for in SWOT analysis?
Strengths, Weaknesses, Opportunities, Threats
ExplanationSWOT stands for Strengths, Weaknesses, Opportunities, Threats, covering key aspects in decision analysis.
#11
Which of the following is a characteristic of a well-defined problem?
It has a clear goal and constraints.
ExplanationWell-defined problems possess clear goals and limitations, facilitating focused decision-making efforts.
#12
What is the term used to describe the tendency to overestimate the likelihood of events that are more easily recalled from memory?
Availability heuristic
ExplanationAvailability heuristic involves overestimating event likelihood based on ease of memory recall, impacting decision accuracy.
#13
In the Vroom-Yetton Decision Model, what does the 'C' stand for in 'FCP'?
Consultation
ExplanationIn Vroom-Yetton, 'C' represents Consultation, highlighting the importance of involving others in decision-making.
#14
What is a common cognitive bias that affects decision-making by favoring options that maintain the status quo?
Status quo bias
ExplanationStatus quo bias favors maintaining current situations, a cognitive bias hindering objective decision-making.
#15
What is one way to overcome decision paralysis?
Set a deadline for making the decision.
ExplanationOvercoming decision paralysis involves setting a deadline, promoting timely and decisive choices.