#1
Which of the following is a step in the decision-making process?
Implementation
ExplanationFinal execution of the chosen solution.
#2
What does SWOT analysis stand for?
Strengths, Weaknesses, Opportunities, Threats
ExplanationFramework for assessing internal and external factors.
#3
Which of the following is NOT a step in the rational decision-making model?
Assess risks
ExplanationOmission of specific risk assessment in the model.
#4
What does the acronym ROI stand for in business?
Return on Investment
ExplanationMeasurement of financial gain relative to investment.
#5
Which of the following is a disadvantage of group decision making?
Potential for groupthink
ExplanationRisk of conformity and limited critical thinking in groups.
#6
Which decision-making model involves assessing options based on their costs and benefits?
Pros and Cons Analysis
ExplanationSystematic evaluation of positive and negative aspects.
#7
What is the term for a decision-making bias where individuals focus on information that confirms their preconceptions?
Confirmation Bias
ExplanationTendency to seek or interpret data that supports existing beliefs.
#8
In the Vroom-Yetton-Jago decision-making model, what does 'FCO' stand for?
Feasibility, Consequences, Outcomes
ExplanationFactors considered when evaluating decision options.
#9
What is the term for a decision-making approach that relies on experience, intuition, and judgment?
Heuristic Decision Making
ExplanationDecision-making based on practical experience and intuition.
#10
Which of the following is a type of non-programmed decision?
Strategic decision
ExplanationUnique decisions with no established routine.
#11
Which of the following is a characteristic of group decision making?
More diverse perspectives considered
ExplanationInclusion of varied viewpoints in the decision-making process.
#12
Which decision-making style is characterized by individuals making decisions without consulting others?
Autocratic
ExplanationAuthoritative decision-making without group input.
#13
Which of the following is NOT a characteristic of intuitive decision making?
Relies on logical analysis
ExplanationDecision-making without heavy reliance on logical reasoning.
#14
In the context of decision-making, what does the term 'satisficing' refer to?
Accepting a satisfactory but not optimal outcome
ExplanationChoosing an option that meets the minimum criteria for satisfaction.
#15
Which of the following is a limitation of group decision making?
Social loafing
ExplanationReduced individual effort in group decision-making contexts.