21 Lecture
MGT111
Midterm & Final Term Short Notes
Decision Making
Decision making is the process of choosing between alternatives to make a choice. It involves analyzing and evaluating available options based on a set of criteria, considering potential outcomes and consequences, and selecting the most appropri
Important Mcq's
Midterm & Finalterm Prepration
Past papers included
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- What is decision making? a) The process of making informed choices b) The process of following orders c) The process of delegating tasks d) The process of ignoring problems
Answer: a) The process of making informed choices
- Which of the following is not a step in the decision-making process? a) Identifying the problem b) Gathering information c) Avoiding risks d) Evaluating alternatives
Answer: c) Avoiding risks
- What is the role of intuition in decision making? a) It is the only factor that should be considered b) It should be used as the primary factor in decision making c) It should be balanced with logic and analysis d) It is not important in decision making
Answer: c) It should be balanced with logic and analysis
- Which of the following is an example of a programmed decision? a) Deciding which university to attend b) Deciding what to have for dinner c) Deciding how to respond to a customer complaint d) Deciding whether to invest in a new product line
Answer: c) Deciding how to respond to a customer complaint
- What is the difference between a non-programmed and programmed decision? a) A non-programmed decision is a routine decision while a programmed decision is a unique decision b) A non-programmed decision is a unique decision while a programmed decision is a routine decision c) A non-programmed decision involves a lot of analysis while a programmed decision is made without analysis d) There is no difference between the two
Answer: b) A non-programmed decision is a unique decision while a programmed decision is a routine decision
- What is the purpose of brainstorming in the decision-making process? a) To identify and generate multiple alternatives b) To evaluate and select the best alternative c) To avoid making decisions d) To follow a predetermined decision-making process
Answer: a) To identify and generate multiple alternatives
- What is the difference between an individual and group decision-making process? a) Individual decision making is more effective than group decision making b) Group decision making is more effective than individual decision making c) Individual decision making is faster than group decision making d) There is no difference between the two
Answer: b) Group decision making is more effective than individual decision making
- What is the purpose of a decision-making model? a) To provide a framework for decision making b) To ensure that decisions are always made by the same person c) To avoid making decisions d) To eliminate risks and uncertainties
Answer: a) To provide a framework for decision making
- What is the role of ethics in decision making? a) Ethics should never be considered in decision making b) Ethics should always be the primary factor in decision making c) Ethics should be balanced with other factors in decision making d) Ethics are only important in personal decisions, not in business decisions
Answer: c) Ethics should be balanced with other factors in decision making
- Which of the following is an example of a decision-making bias? a) Groupthink b) Brainstorming c) Cost-benefit analysis d) SWOT analysis
Answer: a) Groupthink
Subjective Short Notes
Midterm & Finalterm Prepration
Past papers included
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What is the difference between rational and intuitive decision making? Answer: Rational decision making involves a systematic approach to problem-solving, whereas intuitive decision making involves using past experiences and instincts to make decisions.
How does risk play a role in decision making? Answer: Decision making involves evaluating risks and considering potential consequences in order to make an informed choice.
What is the purpose of a decision-making matrix? Answer: A decision-making matrix is used to evaluate and prioritize options based on a set of criteria in order to make an informed choice.
How can group decision making be more effective than individual decision making? Answer: Group decision making allows for diverse perspectives and expertise, which can lead to more creative and well-informed choices.
How can decision-making biases impact the decision-making process? Answer: Biases can lead to irrational decision making and prevent consideration of important factors or alternatives.
How can creativity and innovation be incorporated into the decision-making process? Answer: Brainstorming and exploring unconventional options can lead to creative and innovative solutions in the decision-making process.
What is the role of emotions in decision making? Answer: Emotions can influence decision making, but it's important to balance them with rational analysis in order to make an informed and objective choice.
What is the difference between a programmed and non-programmed decision? Answer: A programmed decision is a routine decision that is made according to predetermined policies or procedures, while a non-programmed decision is unique and requires more analysis and evaluation.
How can decision making be improved through reflection and feedback? Answer: Reflection and feedback can help identify strengths and weaknesses in decision making and provide insights for future choices.
How can decision making be affected by cultural differences? Answer: Cultural differences can impact decision making by influencing values, beliefs, and attitudes towards risk-taking and decision making styles. It's important to be aware of and consider cultural differences in the decision-making process.