FREE BUSINESS AND STUDY GAMES ABOUT MGMT 301:

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FREE BUSINESS AND STUDY GAMES ABOUT MGMT 301:

CHAPTER 7 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -79 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: What are the two forms of thinking?

Answer:

1) System 1 - Intuitive and largely unconscious

2) System 2 - Analytical and conscious System 1 uses association and metaphor to produce quick and dirty draft of reality. System 2 draws on to arrive at explicit beliefs and reasoned choices Question 2: Define Goal Displacement:

Answer:

Occurs when the primary goal is subsumed by a secondary goal

Question 3: What are the disadvantages of using a group to make decisions?

Answer:

1) Few people dominate or intimidate

2) Groupthink

Question 4: Define Confirmation Bias:

Answer:

Occurs when people seek information to support their point of view and discount data that do not support it

Question 5: What is the Analytical Style?

Answer:

Careful decision makers who like lots of information and alternative choices. Managers have higher tolerance for ambiguity and respond well to new or uncertain situations Question 6: Define Predictive Modeling:

Answer:

Data mining technique used to predict future behavior and anticipate the consequences of change Question 7: Define Representative Bias:

Answer:

Tendency to generalize from a small sample or a single event

Question 8: What are the preventive measures to prevent Groupthink?

Answer:

Allow criticism Allow other perspectives Question 9: Define Devil's Advocacy:

Answer:

Assigns someone the role of critic

Question 10: What is the Law of Unintended Consequences?

Answer:

Things happen that weren't foreseen

Question 11: What did Herbert Simon propose?

Answer:

Proposed that managers could not act truly logically because their rationality was bounded by so many restrictions

Question 12: What should you do if an action is not working?

Answer:

Give it more time Change it slightly Try another alternative Start over

Question 13: What are the rules of brainstorming?

Answer:

1) Defer judgement

2) Build on the ideas of others

3) Encourage wild ideas

4) Go for quantity over quality

5) Be visual 6) One conversation at a time

Question 14: What is the Conceptual Style?

Answer:

Decision makers who rely on intuition and have a long-term perspective. Managers have a high tolerance for ambiguity and tend to focus on the people social aspects of a work situation Question 15: What are 4 questions to ask during an ethical decision making process?

Answer:

1) Is the proposed action legal?

2) If "Yes" Does the proposed action maximize shareholder value

3) If "Yes" Is the proposed Action Ethical?

4) If "No" Would It Be Ethical Not To Take Proposed Action Question 16: What are the two last two rules Google introduced later after establishing first eight?

Answer:

9) Collaborate across Google 10) Be a strong decision maker

Question 17: Define Heuristics:

Answer:

Strategies that simplify the process of making decisions

Question 18: What are the symptoms of Groupthink?

Answer:

1) Sense of invulnerability

2) Rationalization

3) Illusion of unanimity and peer pressure

4) Wisdom of crowds

Question 19: What are the first five/seven implementation principles?

Answer:

1) Treat your organization as an unfinished prototype

2) No brag, just facts

3) See yourself and your organization as outsiders do

4) Evidence-based management is not just for senior executives

5) Like everything else, you still need to sell it Question 20: Define Overconfidence Bias:

Answer:

Bias in which people's subjective confidence in their decision making is greater than their objective accuracy

Question 21: What are the two approaches to making decisions?

Answer:

1) Rational Model

2) Nonrational Model