BBA 3602 Management 10 questions and 1 essay
Question 1 - In the Five Forces Model, when the barriers to enter into the industry are __________, the more likely it is that industry profits will be __________.
a. low; high
b. low; low
c. high; low
d. high; high
Question 2 - GE Financial Services is an example of which level of management operations for General Electric Company?
Question 3 - When managers cannot assign probabilities of future occurrence to possible alternatives to a decision, this is known as __________.
c. bounded rationality
e. dialectical inquiry
Question 4 - When an organization enters a new type of industry that is not similar in any way to the current businesses of the organization, this is known as a(n) ____________ strategy.
a. concentration on a single business
b. unrelated diversification
c. international expansion
d. related diversification
e. vertical integration
Question 5 - When a manager makes a decision based on a generalization from a very small sample of information, this is known as:
a. Dialectical inquiry.
b. Systematic errors.
c. Devil’s advocacy.
d. Representative bias.
e. The illusion of control.
Question 6 - According to the administrative model of decision making, if managers cannot possibly specify all of the possible alternatives to a decision, this is the result of:
a. Incomplete information.
b. Bounded rationality.
c. An optimum decision.
Question 7 - The explosion of the space shuttle Challenger is an example of poor managerial decision-making wherein managers neglected the criterion of __________.
d. economic feasibility
e. devil's advocacy
Question 8 - In the classical model of decision-making, the most appropriate decision given the likely future consequences to the organization is known as the ______________ decision.
Question 9 - When the information available to a manager is incomplete because the manager must make a decision quickly, this is known as:
a. Bounded rationality.
b. Devil’s advocacy.
c. Dialectical inquiry.
d. A time constraint.
e. An information cost.
Question 10 - In the Five Forces Model, the type of competitive activity that exists between organizations is known as the:
a. Potential for entry into the industry.
b. Threat of substitute products.
c. Power of customers.
d. Level of rivalry.
e. Power of suppliers.
Question 11 - Discuss the assumptions that underlie the classical and administrative decision making models. Which model more closely aligns with your work and/or management style? 300 word minimum