Posted: January 2nd, 2017

Finance managers at Big Bend, Inc. made a financial blunder when they solely looked at the previous year’s sales to estimate sales for the coming year. Of which management bias is this an example?

Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Vaughn’s engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Vaughn wasn’t certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision. If Vaughn uses the administrative model of decision making, which of these assumptions would he reject? decision makers settle for a satisficing rather than maximizing solution the search for alternatives is limited because of information, human and resource constraints rational procedures will normally lead to the best solution in a complex organization decision objectives are often vague, conflicting, and lack consensus among managers all of these are accepted Question 42 Skip to question text. Vaughn Bately manages a group of eight electrical engineers at Defiance Designs. His team is highly trained and well respected by experts both inside and outside the company. Recently one of Vaughn’s engineers suggested a new technique for the development and use of an argon laser. There appeared to be rich potential for this technology, but Vaughn wasn’t certain that developing this technology was the best use of his limited resources. Vaughn was facing a significant decision. If Vaughn uses the classical model of decision making, which of these assumptions would he reject? the decision maker is rational and uses logic in assigning values and evaluating alternatives the desired decision will maximize attainment of organizational objectives the decision maker strives for complete certainty, gathering complete information problems are precisely formulated and defined the decision maker is limited and unable to make economically rational decisions in difficult situations Question 43 Jessica works for a small company in Wisconsin that manufactures kits for creating gingerbread houses. She has been assigned ______________ for making sure that all of the components are in the kits before they are sent out. This is the task she was assigned by the company’s owner. Autonomy Synergistic power Task reciprocity Task assurance Responsibility Question 44 Ligstrom, Inc. manufactures altars, pews, and other types of church furniture. Which of the following Ligstrom departments is a line department? finance department human resources department research and development department manufacturing department legal department Question 45 Skip to question text. Bobby, a product manager, wants to increase the market share of his product. He is unsure about how to go about it, not knowing for sure how costs, price, the competition, and the quality of his product will interact to influence market share. Bobby is operating under a condition of: risk ambiguity certainty uncertainty brainstorming Question 46 When Harley-Davidson wants to develop a new product, it uses a _______________. It maximizes the involvement of various functional areas by gathering employees from each area to integrate the new product development process throughout the company. Defacto group Contemporary team Virtual network Cross-functional team Multi-functional team Question 47 Skip to question text. Emily Deschamps works as a retail sales clerk at Nordstrom department store. She has the authority to decide how to handle customers’ requests for services not usually offered by the store, to deal with dissatisfied customers, and to make sure that customers receive value for their money. Nordstrom can be said to have: A high degree of decentralization A wide span of management A high degree of centralization A narrow span of management Violated the unity of command principle Question 48 Skip to question text. The Gulf Coast of the United States bristles with oil refineries that churn out a combined 2.5 billion barrels of gasoline, kerosene, jet fuel and other petroleum products each year. That’s ten percent of the world’s annual supply. But getting those resources to distribution centers around the country is a tricky logistics problem. A new website called Transport4 is a centralized order processing system that collects customer shipping requests though the Web and then translates that order information back to each pipeline company’s own internal system. Transport4 simplifies a process that can be as complex as the tangle of pipelines criss-crossing the country. Traditionally, scheduling petroleum shipments to various locations around the country required separate phone calls, faxes, or even snail mail requests to the different pipeline operators serving those regions. Even worse, each carrier had its own product code and scheduling protocol, which made the ordering process different for each company. Now, an oil company shipping to three regions can simply log on to Transport4’s password-protected website and place the orders using a new set of standardized company codes. The Transport4 system automatically routes the orders to the appropriate carriers, who then send scheduling information back to the Trnapsor4 Website. The whole process takes only minutes. The decision to abandon traditional logistics strategies and hire Transport4 to manage distribution was a simple and rational one for most companies. The efficiencies offered by Transport4 were clear. Most likely, a(n) __________ style of decision making would have been used to make the decision. behavioral conceptual directive analytical classical Question 49 “No food or drinks in the classroom” is an example of a: procedure rule policy single-use plan project Question 50 Finance managers at Big Bend, Inc. made a financial blunder when they solely looked at the previous year’s sales to estimate sales for the coming year. Of which management bias is this an example? being influenced by emotions You Answered perpetuating the status quo seeing what you want to see justifying past actions being influenced by initial impressions