Miami Dade College, Miami MAN 3025 Chapter 2: Making Decisions 1)Bob does not think he can complete the current project he's working on with the resources he has available

Miami Dade College, Miami

MAN 3025

Chapter 2: Making Decisions

1)Bob does not think he can complete the current project he's working on with the resources he has available. The product may also become obsolete by the time it is released due to scheduling delays. However, he presses forward because his department has already spent $100,000 and 6 months working on the project. This is an example of the                .

2. Which of the following managers is using big data in decision making?

3. 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)  .

4. What is the first step in the decision-making process?

5. 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)         .
6. You have decided it's time for a new car and make a list of what you want in a new car, such as

fuel efficiency, seating capacity, and cargo area. Which step of the decision-making process are you in?

7. The saying, "throwing good money after bad," meaning that you continue to waste money on a losing proposition, best describes          .

8. You aren't looking for the "sharpest needle in the haystack"; you only want one that is sharp enough to sew with. This is an example of           .
9. More people will buy ground beef advertised as "80% lean" instead of "20% fat," even though the meaning is the same. Which decision-making bias does this reflect?

10. The data-driven, systematic use of the best available facts and information to improve management practice is referred to as    .

11. 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?

12. Which of the following statements about effective decision making is true?

13. Whenever Gabriela needs to book a hotel room in an unfamiliar city, she always stays at a Marriott, because she's familiar with the brand. This is an example of .

14.                           refers to the concept that many managers lack the time and the ability to process all of the alternatives to solve a problem.

15. 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).