Question

In: Operations Management

Gigerenzer and his colleagues have hypothesized, and provided evidence for, the idea that ________ often lead(s)...

Gigerenzer and his colleagues have hypothesized, and provided evidence for, the idea that ________ often lead(s) to stronger decision outcomes than a completely rational and logical approach.

experience

heuristics

intelligence

randomness

Critics of this managerial approach generally argue which potential drawback of EBMgt?

Difficulty in finding managers who can utilize it

Financial feasibility

Moral implications

Which of the following is NOT a node in a basic decision tree format?

Strategic nodes

Change nodes

Conclusion nodes

Decision nodes

In the varying steps of decision making, which step is just before arriving at the tentative decision?

Analyzing all alternatives against the objectives

Develop alternative actions

Establish objectives

Evaluate for possible consequences of a selected action

Expert Solution

Q. Gigerenzer and his colleagues have hypothesized, and provided evidence for, the idea that ________ often lead(s) to stronger decision outcomes than a completely rational and logical approach.

Answer : Heuristics

[Explanation : According to Gigerenzer and his colleagues, recognition heuristic (RH) is a hypothesized decision strategy which is assumed to help the individuals to make their decisions quickly and that too with minimum effort. Gigerenzer and his colleagues have hypothesized, and provided evidence for, the idea that Heuristics often lead(s) to stronger decision outcomes than a completely rational and logical approach.].

Q. Critics of this managerial approach generally argue which potential drawback of EBMgt?

Answer : Moral implications

[Explanation : EBMgt that is Evidence based management refers to the approach in which the managerial as well as people-related decisions are undertaken based on the basis of the evidence(s) available and also by using one's his/her own critical thinking ability. Since, the evidence or the information available might not have been fairly collected and may subject to the element of biaseness of the subject who collected the data as well ; thus, becoming its drawback. So, the most closest option is moral implications .]

Q. Which of the following is NOT a node in a basic decision tree format?

Answer : Strategic nodes

[Explanation : In a basic decision tree format , there are three types of nodes namely, chance nodes, decision nodes, and end nodes/conclusion nodes . Note : In the given question, there must be a typing error it seems, like the option change node must have been chance nodes. So, the answer is Strategic nodes as there is no such node of this name in a basic decision tree format.]

Q. In the varying steps of decision making, which step is just before arriving at the tentative decision?

Answer : Evaluate for possible consequences of a selected action

[Explanation : The steps of decision making process are : Step 1 includes Establish objectives; Step 2 includes Classify and prioritize objectives ; Step 3 is Develop alternative actions ; Step 4 : Evaluate for possible consequences of a selected action ; Step 5 includes Tentative decision to most appropriate alternative ; Step 6 includes Evaluation of tentative decision for more consequences and the last step is Decisive action is taken and additional actions to prevent consequence. Thus, the step just before arriving at the tentative decision is step 4 that is Evaluate for possible consequences of a selected action.]

keosha answered 1 year ago

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