Decision Making in Business Quiz

Implementing all possible solutions simultaneously is not a step in the decision-making process.

Operational decisions involve routine, day-to-day choices that managers must make.

Non-routine is NOT a characteristic of programmed decisions.

A non-programmed decision is made in response to an unexpected situation or problem.

Weather patterns are NOT a factor affecting decision-making in businesses.

A decision involving a high level of uncertainty and complexity is termed a non-programmed decision.

The rational decision-making model assumes that decision makers have all the information and can objectively evaluate all possible alternatives.

Intuitive decision-making refers to making a choice without the use of conscious thought or logical inference.

The weighted scoring model involves listing the pros and cons of each alternative and selecting the one with the highest total score.

The bounded rationality model acknowledges that decision makers have limited information processing capabilities and must often resort to making satisfactory rather than optimal decisions.

Force field analysis involves mapping out the forces for and against a particular decision to identify which forces are the strongest.

The intuitive decision-making model emphasizes the importance of intuition, experience, and judgment in decision making.

Anchoring bias involves giving more weight to the first information received.

Confirmation bias involves selectively seeking out information that supports one's pre-existing beliefs.

Recency bias involves placing undue importance on recent events or information.

Availability bias involves basing decisions on information that is readily available rather than seeking out all possible relevant information.

Confirmation bias involves giving more weight to information that confirms existing beliefs while ignoring contradictory evidence.