Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
14 Cards in this Set
- Front
- Back
Behavioral (administrative) theory of decision making
|
A theory of managerial decision making, based on the work of Herbert A. Simon, that describes how managers actually make decisions in business situations.
|
|
Bounded rationality
|
Managers must make decisions as rationally as possible with only limited information available.
|
|
Classical theory of decision making
|
Theory of managerial decision making representing an ideal model of decision making, with maximizing outcomes as a primary goal.
|
|
Creativity
|
The generation of new ideas.
|
|
Critical thinking
|
An approach to evaluating a claim that requires thorough analysis of assumptions and reasoning followed by evaluation based on the argument rather than on assertions.
|
|
Decision making
|
The process through which a manager identifies and solves problems creatively; a process that involves making appropriate and rational decisions.
|
|
Innovation
|
The translation of a new idea into a new product, service, production method, or organization
|
|
Maximizing
|
The process of making a decision that is aimed at realizing the best possible outcome on one dimension - seeking the best answer.
|
|
Nonprogrammed and programmed decisions
|
Nonprogrammed decisions are decisions that have no precedents and represent situations that have not been dealt with previously, and if so, only on a limited basis within the organization. Programmed decisions are decisions made routinely on a recurring basis and most often do not require huge expenditures and are less complex in nature.
|
|
Optimizing
|
Selecting the best alternative from a range of options that have been evaluated within the existing time and price constraints.
|
|
Problem solving
|
A process of identifying a problem, exploring solutions, and testing a solution.
|
|
Satisficing
|
Adopting the solution that minimally meets the objectives, often found in the first acceptable option that arises within without extensive study.
|
|
Scientific method
|
The steps of logical thinking, which include identifying and defining the problem; gathering information about the problem; developing alternative solutions; evaluating alternatives; and choosing an alternative.
|
|
Vroom model
|
The most common decision-making tree, which was developed by Vroom and Yetton. The model helps determine the optimal amount of subordinate participation desired in the decision-making process.
|