MGT350 Final Exam 1
MGT350 Final Exam 1
Popular in Course
verified elite notetaker
Popular in Department
This 12 page Study Guide was uploaded by tophomework Notetaker on Thursday November 12, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 19 views.
Reviews for MGT350 Final Exam 1
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 11/12/15
MGT350 Exam – Answers are in Bold 1) Decision opportunities arise when problems or opportunities are recognized through critical thinking. Which of the following components may be a reason that managers ignore problems? A. A lack of intellectual empathy makes it difficult to recognize stakeholder considerations. B. The manager’s sense of urgency toward problems precludes action. C. The manager prefers risk over certainty. D. Some businesses exist in a problem free environment. E. The manager is exercising intellectual courage in the face of resistance to problem solving. 2) Bill Simmons is the manager of a small restaurant and must decide how much money he owes his suppliers. The best way for Bill to approach this as a critical thinker is to A. collect and analyze the evidence B. identify opportunities and obstacles C. understand different perspectives on the issue D. weigh the consequences of this decision 3) Decision tools and techniques influence the use of critical thinking in decision making. According to the decision steps model, what is a proper response when an unstructured problem is presented? A. Implement a decision B. Measure the impact of a decision C. Frame the problem D. Frame alternatives E. Make the decision 4) When faced with a decision opportunity, a critical thinker must sort through a variety of readily apparent symptoms in order to focus on important considerations that may be hidden. Based on the decision steps model, when framing a problem a helpful step is to A. determine root causes B. identify the problem C. frame alternatives D. develop a contingency plan E. measure the decision 5) Jane has a term paper due, a sick child who needs her attention, and a major project due at work. To save time, she decides to submit a paper for school that is less than her best, but will earn a passing grade. The best description of Jane’s approach is A. optimizing B. satisficing C. creativity D. analyzing 6) Despite all the measures followed, successful decisions are not always guaranteed so it is important to A. develop appropriate measurements for the impacts of decisions B. accept that some decisions will not work and move on to other issues C. develop contingency plans D. only allow the most senior leaders to influence decisions E. use logical thinking to guarantee a correct outcome 7) Tactics for increasing the diversity of opinion brought to bear on a decision include A. brainstorming B. following the chain of command C. reliance on precedent D. an autocratic decision process E. reference to the policy manual 8) Critical thought involves the consideration of diverse perspectives. Advantages of this include A. quicker decisions for urgent problems B. decisions that are more narrowly focused C. the leader maintains tighter control over decisions D. a decision that accounts for the interests of multiple stakeholders E. greater security over confidential information 9) Critical thought involves the consideration of diverse perspectives. Disadvantages of group decision making include A. increased security of confidential information B. all of the above are disadvantages of group decision making C. a process that is more time consuming D. a decision that accounts for the interests of diverse stakeholders E. a more autocratic environment 10) Considerations when framing a problem include A. developing contingency plans B. measuring the impacts of a decision C. identifying causes of the problem D. framing alternative courses of action E. identification of stakeholders affected by the problem 11) Conflict is a force of influence upon decision making, and may hamper decision implementation if not accounted for in the problem formulation and identification process. Conflict may stem from such factors as A. personal attributes B. a lack of a devil’s advocate C. groupthink D. inspirational leadership E. routine programmed decisions 12) During problem formulation, the decision maker must account for the interests of diverse stakeholders. An important step toward this outcome is the establishment of A. timelines and resource allocations B. contingency plans C. criteria, goals, and objectives D. measurements for the decision E. decision Implementation Processes 13) A valid deductive argument may lead to false conclusions if A. it contains a false premise B. a valid deductive argument cannot lead to false conclusions C. it is in improper form D. it uses the modens ponens argument form E. it is composed of multiple syllogisms 14) A form of critical thinking is fairminded persuasive thinking. When engaging in problem formulation and identification with a group, the fair minded persuader would A. communicate only that information which supports the desired decision B. acknowledges the difficulty that his or her position creates for the audience C. avoid all affective appeals D. emphasize data and reason over affective appeals E. emphasizes affective appeals over data and reason 15) What is the most comprehensive definition of a problem? A. Gap between current situation and some future desired state B. A declining economy resulting in reduced revenues C. A negative situation that requires action to mitigate damage D. An increase in the cost of doing business. E. A positive situation that requires action in order to fully leverage an opportunity. 16) Problems may become apparent to stakeholders through the use of tools which compare actual results to expected results. An example of such a tool is a A. Financial report B. Fishbone diagram C. Pareto chart D. Force Field Analysis E. SWOT analysis 17) An important step toward framing a problem in a manner that is sensitive to relevant stakeholder perspectives is to A. filter nonfinancial input from the process B. use projection when ascribing motivation to others C. determine who is affected by a problem D. be sure to remain situated in one’s personal context E. do not allow public relations concerns to influence decision making 18) While this decision style offers an opportunity for stakeholder input, it most lessens accountability for decision making. A. Collaborative/participative B. Consensus C. Autocratic D. Leader decides E. Democratic 19) Jan is the owner of a retail store, and is evaluating the need for changes to the store’s commission structure for sales personnel. She has decided to exclude the sales personnel affected from the decision making process. Jan is probably seeking to minimize this force of influence on the decision making process. A. Resource availability B. Lack of political support C. Self serving bias D. Ethical considerations E. Resistance from external stakeholders 20) Identifying programmed decision opportunities—problems with objectively correct answers, solvable through the use of simple rules, policies, or numerical computations— promises this benefit in terms of decision making. A. Greater efficiency B. Provides senior managers with greater visibility to each routine decision made C. Provides decision makers with opportunities for creative problem solving D. Ensures that multiple solutions are applied to common problems in order to find the best one E. Ensures that problems are dealt with in a unique fashion according to their differences 21) A manager may properly choose to ignore a problem A. when a Pareto chart has properly clarified the causes of a problem B. when the costs of doing nothing are less than the cost of addressing the problem C. when a SWOT analysis indicates an environmental opportunity D. because of a bias against change E. when the problem is surfaced through a positive trigger point 22) Managers of Shadow Blinds are contemplating whether to open the company's first international branch in Europe or Asia. A decision tool that would facilitate the decision between these two locations by analyzing the relative strength of cross cultural factors is a A. SPC chart B. Force Field Analysis C. Scatter diagram D. Gantt chart E. Pareto chart 23) A decision tool that can be helpful in identifying risks to contemplated decisions is A. a Fishbone diagram B. a Pareto chart C. a periodic table D. a histogram E. a Force Field Analysis 24) For urgent decisions, this approach may be the most efficient and effective use of the manager’s time when there are other critical competing priorities. A. Creation of a task force B. Satisficing C. Brainstorming and multivoting with a team D. Optimizing E. Experimenting 25) In the course of developing a SWOT analysis, Bob determines that a large competitor is moving into one of his company’s key service areas. Bob has uncovered A. a strength B. a positive trigger point C. an opportunity D. a threat E. a weakness 26) The manager of the Gallery Restaurant noted that the restaurant had experienced a decrease in the number of evening customers. The manager promptly ordered the chef to rewrite the evening menu. Customer feedback later indicated that the problem had not been the menu but poor service from the wait staff. The manager's decision to have the menu revised suggests that she failed to A. evaluate the decision and its consequences B. identify the problem C. properly diagnose the cause of the problem D. evaluate the alternatives and consequences 27) The initial step in framing the problem is to ______, and the first step in making the decision is to ______. A. identify the problem, frame alternatives B. identify the problem, identify causes of the problem C. identify the cause of the problem, implement the decision D. evaluate the decision, determine who is affected E. select an alternative, identify the problem 28) In response to declining profits, a company decides that it needs to become world class, but is having difficulty developing an implementation plan around the goal of “becoming world class.” Rather than implement this decision, the company would be well advised to return to the ______ step of decision making. A. evaluate the decision B. make the decision C. determine measurements D. frame alternatives E. develop criteria, goals, and objectives 29) Jan has been selected to implement her company’s decision to expand her company’s manufacturing operation into a new location. Six months into this project, the building has been completed, and machinery installed. However, Jan has been unable to secure enough applicants with the technical skills needed to operate this computerized facility. Jan’s implementation plan was most deficient in its consideration of A. organizational standards B. resource availability C. organizational mission D. technological constraints E. timeline 30) Freda is in the process of implementing a significant decision. Which of the following considerations should she ignore? A. Stakeholder resistance to certain options B. Measurements of potential tasks C. Decision alternatives to be framed D. Timelines to implement the decision 31) Freda is analyzing the prospects for a new gambling casino that her company is considering. In the course of her analysis, Freda has identified potential stakeholder resistance to this venture, in that she has discovered that the areas is very densely populated with houses of worship. She has also discovered a potential source of support for this venture, in that the local government has established tax credits for new businesses in an effort to stimulate employment. Freda is, in all likelihood, developing a A. Scatter diagram B. ROI analysis C. financial proforma income statement D. Force Field Analysis E. resource allocation survey 32) Resistance to change during implementation could be a result of A. The manager’s decision to allow discussion of both internal and external stakeholder concerns, which introduced conflicting objectives into the problem formulation and identification process B. sensitivity to the needs of external stakeholders C. a decision that has been delayed by a lengthy collaborative/participative decision making style D. a problem statement that is not representative of relevant stakeholder interests 33) The assignment of different tasks to different people or groups is an important part of a(n) A. statistical process control chart B. benchmarking project C. Force Field Analysis D. implementation plan E. strategic plan 34) Bill is an automotive mechanic, paid on the basis of the repair dollars that he generates for his employer. A customer has informed Bill that he believes he needs major repair work to his automobile. Upon examination of the car, Bill discovers that an inexpensive adjustment is all that is needed. He knows that if he informs the customer of this, he will miss out on the substantial commission he would earn by performing the work that the customer already expects. The compensation structure employed by Bill’s garage has created the ethical dilemma of A. impartial third party mediator B. proper allocation of resources C. a conflict of interest D. the good of the individual vs the good of society E. joint and several liability dilemma 35) Susan has the opportunity to choose among several options, including going along with her coworkers and filling out inaccurate time records, telling her manager what is happening, attempting to persuade her coworkers to stop doing this, or, doing nothing. This is an example of A. a situation that is not a problem B. an ethical issue C. a time when Susan should ignore the problem D. a moral rights issue 36) A situation, problem, or opportunity in which an individual must choose among several actions that must be evaluated as morally right or wrong is called A. a personal issue B. an ethical issue C. business ethics D. morale issue 37) A measurement that identifies the degree to which goals and objectives are obtained is a measure of A. organizational fluctuation B. organizational efficiency C. organizational precision D. organizational effectiveness E. organizational stability 38) In order to develop meaningful measurements to guide decision implementation and evaluation, it is important to develop ______ when framing a problem. A. a thorough SWOT analysis B. specific task responsibilities for each member of the team C. specific criteria, goals and objectives D. multiple alternative courses of action E. relevant job descriptions 39) The best way to ensure that a “balanced scorecard” is used to evaluate the success of a decision is to A. ensure that the finance department develops the list of measurements to be applied B. compare actual financial results to budgeted amounts C. gather and compile regular feedback from internal and external stakeholders D. monitor resource usage E. monitor the company’s stock price 40) When evaluating the decision processes in an organization, leaders should consider doing which of the following? A. Make sure the process is sufficiently autocratic.Make sure the process is sufficiently autocratic.Make sure the process is sufficiently autocratic. B. Ensure that the process is consistent for all significant decisions. C. Make sure to focus on results of the decision rather than the process. D. Make a list of those affected by the decision, and determine if those interests are represented in the process under consideration. E. Ensure that all of a company’s stakeholders provide input all of a company’s decisions. 41) In order to apply continuous improvement in decision making, a company should take the time to record not only the results of its decisions, but also the A. impact to employees B. impact to external stakeholders C. customer satisfaction data D. financial results E. process through which the decision was made 42) As noted in our texts, a key measurement of our decisions is: “are they ethical.” In order to achieve a superior level of ethical behavior in its decision making processes, leaders should instill a(n) ______ in those charged with making decisions. A. utilitarian approach to ethical considerations B. compliance based approach to ethical considerations C. legal approach to ethical considerations D. integrity based approach to ethical considerations
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'