Key element in decision-making under risk


Assignment:

Q1. Acts of terrorism and IT failures are examples of which type of decision?

a. rational decisions

b. ethical decisions

c. non-programmed decisions

d. programmed decisions

e. crisis decisions

Q2. The lack-of-participation error occurs in which phase of the rational decision model?

a. evaluating results

b. identifying alternatives

c. implementing preferred course of action

d. choosing a preferred course of action

e. recognizing the problem

Q3. __________ is consistent with the rational model where a decision is approached in a step-by-step and analytical fashion.

a. Scientific thinking

b. Strategic thinking

c. Systematic thinking

d. Irrational thinking

e. Satisficing

Q4. Behavioral scientists are cautious about applying classical decision theory to many decision situations because they recognize that human beings have __________ that restrict their information-processing capabilities.

a. sociological limitations

b. cognitive limitations

c. subjective limitations

d. emotional limitations

e. psychological limitations

Q5. Research shows that to prevent future errors, small problems should get the same time and attention as bigger ones.

a. True

b. False

Q6. When dealing with risk environments, managers may assign __________ through objective statistical procedures or through personal intuition.

a. potentialities

b. expectations

c. prospects

d. probabilities

e. feasibilities

Q7. A key element in Decision-Making under risk and uncertainty is __________.

a. discernment

b. unrestrained rationality

c. recognition

d. intuition

e. assimilation

Q8. In managing the decision-making process, one of the first issues to address is whether to actually address the decision situation.

a. True

b. False

Q9. The justice criteria asks if the decision satisfies all constituents or stakeholders.

a. True

b. False

Q10. The first step in the rational decision model is _______________.

a. choosing a preferred course of action

b. recognizing and defining the problem or opportunity

c. identifying the alternative courses of action

d. evaluating the results

e. implementing the preferred course of action

Request for Solution File

Ask an Expert for Answer!!
Business Law and Ethics: Key element in decision-making under risk
Reference No:- TGS02951279

Expected delivery within 24 Hours