{"id":227582,"date":"2018-09-17T08:51:05","date_gmt":"2018-09-17T08:51:05","guid":{"rendered":"http:\/\/localhost\/wordpress\/index.php\/2018\/09\/17\/mgt-350-final-exam-guide-1\/"},"modified":"2018-10-24T08:44:41","modified_gmt":"2018-10-24T08:44:41","slug":"mgt-350-final-exam-guide-1","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/mgt-350-final-exam-guide-1\/","title":{"rendered":"MGT 350 Final Exam Guide 1"},"content":{"rendered":"<p>1) Critical thinking may be stored for use in future decision making. Examples of mechanisms used to &#8220;store&#8221;\ufffd critical thinking for future programmed decisions include\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a regression analysis\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0a Stakeholder Analysis\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0a Pareto Chart\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0pre-opening checklist\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0a SWOT Analysis\t\u00a0\t\u00a0\t3) When facing a critical decision, a manager should use critical thinking in order to ______ uncertainty\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0eliminate\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0increase\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0reduce\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0randomize\t\u00a0\t\u00a0\t4) Kathy is a manager deciding between two applicants for a position reporting to her. One applicant for the position is a close personal friend of Kathy&#8217;s. Because Kathy is concerned that self serving bias may influence her to incorrectly see her friend as the best candidate, she should\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0allow someone else to make the decision.\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0eliminate her bias by not allowing her friend to apply\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0ignore her bias and be strictly objective\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0any of the above would be an equally valid choice from a critical thinking perspective\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0seek input from others before making the decision.\t\u00a0\t\u00a0\t5) Jane has a term paper due, a sick child who needs her attention, and a major project due at work. To save time, she decides to submit a paper for school that is less than her best, but will earn a passing grade. The best description of Jane&#8217;s approach is\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0creativity\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0analyzing\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0satisficing\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0optimizing\t\u00a0\t\u00a0\t6) Despite all the measures followed, successful decisions are not always guaranteed so it is important to\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0develop contingency plans\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0only allow the most senior leaders to influence decisions\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0use logical thinking to guarantee a correct outcome\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0accept that some decisions will not work and move on to other issues\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0develop appropriate measurements for the impacts of decisions\t\u00a0\t\u00a0\t7) One way for a leader to develop alternative perspectives for decision making is to\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0increase the use of the logical thinking style\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0rely on the intellectual component of stereotyping\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0apply past decision successes to current decision opportunities\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0increase the homogeneity of his or her team\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0consult with internal stakeholders in other departments\t\u00a0\t\u00a0\t8) One way for a leader to develop alternative perspectives for decision making is to\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0assign the role of devil&#8217;s advocate for meetings\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0rely on the intellectual component of stereotyping\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0apply past decision successes to current decision opportunities\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0increase the homogeneity of his or her team\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0increase the use of the logical thinking style\t\u00a0\t\u00a0\t9) Critical thought involves the consideration of diverse perspectives. Disadvantages of group decision making include\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a decision that accounts for the interests of diverse stakeholders\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0all of the above are disadvantages of group decision making\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0a more autocratic environment\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0a process that is more time consuming\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0increased security of confidential information\t\u00a0\t\u00a0\t\u00a0\t\u00a0\t10) During problem formulation, the decision maker must account for the interests of diverse stakeholders. An important step toward this outcome is the establishment of\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0measurements for the decision\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0decision Implementation Processes\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0criteria, goals, and objectives\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0timelines and resource allocations\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0contingency plans\t\u00a0\t\u00a0\t\u00a0\t11) The outcome of the process of framing the problem includes\u00a0\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a timeline for decision implementation\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0an assessment of resources needed to execute a decision\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0a list of criteria, goals, and objectives for a decision\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0a list of potential alternative courses of action\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0the measurements one will use to evaluate the decision\t\u00a0\t12) Conflict is a force of influence upon decision making, and may hamper decision implementation if not accounted for in the problem formulation and identification process. Conflict may stem from such factors as\u00a0\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0inspirational leadership\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0routine programmed decisions\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0groupthink\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0personal attributes\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0a lack of a devil&#8217;s advocate\t\u00a0\t13) What is the most comprehensive definition of a problem?\u00a0\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0A positive situation that requires action in order to fully leverage an opportunity.\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0A declining economy resulting in reduced revenues\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0A negative situation that requires action to mitigate damage\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0Gap between current situation and some future desired state\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0An increase in the cost of doing business.\t\u00a0\t14) This thinking style may be used to frame a problem in general terms through the use of sample data.\u00a0\t\u00a0 \u00a0 \u00a0\t15) A form of critical thinking is fair-minded persuasive thinking. When engaging in problem formulation and identification with a group, the fair minded persuader would\u00a0\t\u00a0 \u00a0 \u00a0\t16) While this decision style offers an opportunity for stakeholder input, it most lessens accountability for decision making.\u00a0\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0Democratic\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0Consensus\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0Autocratic\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0Collaborative\/participative\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0Leader decides\t\u00a0\t17) An appropriate profit relative to funds invested would be a primary consideration of this stakeholder group.\u00a0\t\u00a0 \u00a0 \u00a0\t\u00a0\t18) Problems may become apparent to stakeholders through the use of tools which compare actual results to expected results. An example of such a tool is a\u00a0\t\u00a0 \u00a0 \u00a0he store&#8217;s commission structure for sales personnel. She has decided to exclude the sales personnel affected from the decision making process. Jan is probably seeking to minimize this force of influence on the decision making process.\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t20) Identifying programmed decision opportunities&#8221;\ufffdproblems with objectively correct answers, solvable through the use of simple rules, policies, or numerical computations&#8221;\ufffdpromises this benefit in terms of decision making.\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t21) Identifying programmed decision opportunities&#8221;\ufffdproblems with objectively correct answers, solvable through the use of simple rules, policies, or numerical computations&#8221;\ufffdpromises this benefit in terms of decision making.\t\u00a0 \u00a0 \u00a0\t\u00a0\t22) For urgent decisions, this approach may be the most efficient and effective use of the manager&#8217;s time when there are other critical competing priorities.\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0Experimenting\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0Optimizing\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0Satisficing\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0Brainstorming and multi-voting with a team\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0Creation of a task force\t\u00a0\t\u00a0\t23) A decision tool that can be helpful in identifying risks to contemplated decisions is\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a Force Field Analysis\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0a histogram\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0a Pareto chart\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0a periodic table\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0a Fishbone diagram\t\u00a0\t\u00a0\t24) When a manager is attempting to identify root causes, the following tool may be helpful:\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0SWOT analysis\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0Fishbone diagram\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0Force field analysis\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0profit and loss statements\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0Financial Balance sheet\t\u00a0\t\u00a0\t25) The manager of the Gallery Restaurant noted that the restaurant had experienced a decrease in the number of evening customers. The manager promptly ordered the chef to rewrite the evening menu. Customer feedback later indicated that the problem had not been the menu but poor service from the wait staff. The manager&#8217;s decision to have the menu revised suggests that she failed to\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0properly diagnose the cause of the problem\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0identify the problem\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0evaluate the decision and its consequences\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0evaluate the alternatives and consequences\t\u00a0\t\u00a0\t26) In the course of developing a SWOT analysis, Bob determines that a large competitor is moving into one of his company&#8217;s key service areas. Bob has uncovered\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a weakness\t\u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 \u00a0a positive trigger point\t\u00a0 \u00a0 \u00a0C. \u00a0 \u00a0 \u00a0 \u00a0a strength\t\u00a0 \u00a0 \u00a0D. \u00a0 \u00a0 \u00a0 \u00a0a threat\t\u00a0 \u00a0 \u00a0E. \u00a0 \u00a0 \u00a0 \u00a0an opportunity\t\u00a0\t\u00a0\t27) When deciding between decision alternatives, this tool helps the manager to focus scarce resources on the most common causes of a problem.\t\u00a0\t\u00a0\t28) The best way to mitigate employee resistance to a decision is to\t\u00a0\t\u00a0\t29) Freda is in the process of implementing a significant decision. Which of the following considerations should she ignore?\t\u00a0 \u00a0 \u00a0\t\u00a0\t31) Freda is analyzing the prospects for a new gambling casino that her company is considering. In the course of her analysis, Freda has identified potential stakeholder resistance to this venture, in that she has discovered that the areas is very densely populated with houses of worship. She has also discovered a potential source of support for this venture, in that the local government has established tax credits for new businesses in an effort to stimulate employment. Freda is, in all likelihood, developing a\t\u00a0 \u00a0 \u00a0\t32) The assignment of different tasks to different people or groups is an important part of a(n)\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t33) Since unforeseen circumstances will arise during implementation, a company should invest resources in teaching employees to\t\u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0be consistent in their actions\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t34) The moral principles and standards that guide behavior in the world of business are called\t\u00a0\t\u00a0\t\u00a0\t35) A system of rules that governs the ordering of values is referred to as\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t36) Markus worked last summer as a receptionist in a lawyer&#8217;s office. During a discussion prompted by the ethics chapter in your text, he commented that he was asked to tell callers that the lawyer was in court when in fact the lawyer was playing golf! He eventually quit the job because he believes that under no circumstance is it permissible to tell a lie. Markus appears to be following the ethical system referred to as a\t\u00a0 \u00a0 \u00a0\t\u00a0\t\u00a0\t37) Bob&#8217;s company regularly surveys employees concerning satisfaction with various attributes of their jobs, and their working conditions. This allows Bob to watch for positive or negative changes in measured satisfaction levels when decisions are made to change the nature of work or compensation in order to increase retention. Bob is applying this thinking style to evaluate his decisions.\t\u00a0 \u00a0 \u00a0\t38) The objective to &#8220;reduce rework significantly within 6 months&#8221;\ufffd is not sufficiently meaningful nor measurable because it is not sufficiently\t\u00a039) A measurement that evaluates the amount of inputs used to achieve outputs is a measure of\t\u00a0 \u00a0 \u00a0\t\u00a0\t40) When evaluating the decision processes in an organization, leaders will bear in mind that\t\u00a0 \u00a0 \u00a0\t\u00a0 \u00a0 \u00a0\t41) When evaluating the decision processes in an organization, leaders should consider doing which of the following?\t\u00a0 \u00a0 \u00a0\t\u00a0 \u00a0 \u00a0\t\u00a0\t42) As noted in our texts, a key measurement of our decisions is: &#8220;are they ethical.&#8221;\ufffd In order to achieve a superior level of ethical behavior in its decision making processes, leaders should instill a(n) ______ in those charged with making decisions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1) Critical thinking may be stored for use in future decision making. Examples of mechanisms used to &#8220;store&#8221;\ufffd critical thinking for future programmed decisions include \u00a0 \u00a0 \u00a0A. \u00a0 \u00a0 \u00a0 \u00a0a regression analysis \u00a0 \u00a0 \u00a0B. \u00a0 \u00a0 \u00a0 <a href=\"https:\/\/www.benedictsol.com\/blogs\/mgt-350-final-exam-guide-1\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-227582","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/227582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=227582"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/227582\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=227582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=227582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=227582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}