Question

In: Finance

The decision making is called______ because managers do not need to repeatedly make new judgments about...

  1. The decision making is called______ because managers do not need to repeatedly make new judgments about what should be done, they are replying on long-established decision rules.

Cognitive-based

Non-programmed

Programmed

Subconscious mental based

Solutions

Expert Solution

PROGRAMMED decision making is a decision making in which managers are not making new judgements and they are always relying upon long-established decision rules. These decisions are mostly routine and there is less ambiguity.

Correct answer will be option (C) PROGRAMMED


Related Solutions

In what ways do the classical and administrative models of decision making help managers appreciate the complexities of real-world decision making?
MANAGEMENT 3303In what ways do the classical and administrative models of decision making help managers appreciate the complexities of real-world decision making?How do hygiene and motivational factors differ? What are the implications of the two-factor theory for managers?Define expectancy theory. Identify the theory's three key concepts and the ways in which managers can use expectancy theory to motivate employees.How can managers use reinforcement theory to motivate their employees?Describe goal-setting theory. Briefly identify the theory's basic components.What is the job characteristics...
If the goal of your decision making is to make the optimum decision or make the...
If the goal of your decision making is to make the optimum decision or make the best choice, you should utilize the bounded rationality model of decision making. the intuitive decision-making model. the creative decision-making model. the rational decision making model.
Instructions: Use the 6 step rational choice decision making process (Attached) to make a decision about...
Instructions: Use the 6 step rational choice decision making process (Attached) to make a decision about the following issue. Abdulla is in charge of scheduling the work for the service department of a car dealership. Recently, many of the sales representatives have been taking phone calls from their regular customers, and promising that their car repairs can be completed on certain days or at certain times. Things are not going well, and today it seems like everyone is unhappy –...
What does the Administrative Model of Decision Making (March and Simon’s work) suggest managers do in...
What does the Administrative Model of Decision Making (March and Simon’s work) suggest managers do in order to control how people in organizations make non-routine decisions?
What does the Administrative Model of Decision Making (March and Simon’s work) suggest managers do in...
What does the Administrative Model of Decision Making (March and Simon’s work) suggest managers do in order to control how people in organizations make routine decisions?
As the manager of We Do It Right Construction, you need to make a decision on...
As the manager of We Do It Right Construction, you need to make a decision on how many home to build in a new residential area. The firm has some monopoly power in its local market. Its inverse demand curve is estimated to be P=300-3Q. Its cost function is 500+20Q+0.5Q^2. (Price and cost are in thousands, quantity is in units.) a.) What is the revenue-maximizing price and quantity? Explain. b.) What is the profit-maximizing price and quantity? How much profit...
Auditors must make judgments about various aspects of an audit on the basis of their own...
Auditors must make judgments about various aspects of an audit on the basis of their own direct experience, indirect experience, or a combination of the two. In a study, auditors were asked to make judgments about the frequency of errors to be found in an audit. The judgments by the auditors were then compared to the actual results. The data are contained in the Excel Online file below. Suppose the data were obtained from a similar study; lower scores indicate...
Auditors must make judgments about various aspects of an audit on the basis of their own...
Auditors must make judgments about various aspects of an audit on the basis of their own direct experience, indirect experience, or a combination of the two. In a study, auditors were asked to make judgments about the frequency of errors to be found in an audit. The judgments by the auditors were then compared to the actual results. The data are contained in the Excel Online file below. Suppose the data were obtained from a similar study; lower scores indicate...
Question 2: Explain rational approach to decision making. Do you think that managers could always be...
Question 2: Explain rational approach to decision making. Do you think that managers could always be rational in making decisions? Why? Question 3. A) What is active listening? Do you think that it is important to managers and organizations? Explain your answer. B) Mention the characteristics of a powerful story. Question 4: Define influence. Explain the six universal forms of influence. In your opinion, which of these forms have more influence on you? Explain your answer.
We all use shortcuts in making judgments about others. (I.e., assuming a woman in scrubs is...
We all use shortcuts in making judgments about others. (I.e., assuming a woman in scrubs is a nurse, and a man in scrubs is a doctor.) As the world continues to get ‘flatter” and diversity increases do you think this will get better or worse? Why? How will you work to try to minimalize this in your own life? Include stories about a few times you have taken shortcuts to make judgments - either in your professional life or your...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT