MG352-Week 2

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MG352-Week 2
2014-09-20 17:17:49

Principals of Management Week #2
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  1. Describe the optimizing approach to decision making.
    Recognize the need for a decision; establish, rank, and weigh the decision criteria; gather available information and data; identify possible alternatives; evaluate each alternative with respect to all criteria; select the best alternative.
  2. Describe the four barriers to effective decision making?
    • (1) Complacency:  the decision maker either does not see danger signs or opportunity or ignores data from the environment that would affect decision making.
    • (2) Defensive avoidance: the decision maker denies the importance of danger, the opportunity or the responsibility for taking action.
    • (3) Panic: frantic attempts to solve a problem rarely product the best results.
    • (4)  Deciding to decide:  accepting the responsibility and challenge of decision making is critical to over all effectiveness
  3. A _____ is a conception defining what an individual or group regards as desirable.
  4. Describe the five actions necessary to implement social responsibility:
    • a.  Examine values, short-run profits to ensure that these concepts are in tune with the values held by society.
    • b. Reevaluate their long-range planning and decision making processes to
    • ensure that they fully understand the potential social consequences.           
    • c.  Seek to aid both governmental agencies and voluntary agencies in their social efforts.
    • d.  Look at ways to help solve social problems through their own businesses.
    • e.  Participate in philanthropy.
  5. Describe the satisfying approach to decision making?
    One seeks the first alternative that meets the decisions maker's minimum standards of satisfaction.
  6. To satisfy the _____ Code, written contracts must contain certain information.
    Uniform Commercial
  7. All of these  tools foster creativity except:

    -nominal group technique
    -micro-managing (Micro-managing tends to stifle creativity and innovation) 
    micro-managing (Micro-managing tends to stifle creativity and innovation)
  8. A(n) _____ is a document that outlines the principles of conduct to be used in making decisions within an organization.
    Code of ethics
  9. Group decisions are generally better when avoiding mistakes is more important than
  10. _____ involves presenting a problem to a group of people and allowing them to present ideas for a solution to the problem.
  11. All managers are decision makers, but not all decision makers are managers.
  12. What is a global economy?
    A global economy is an economy in which companies compete actively with businesses from around the world.
  13. Synectics is a simple thinking tool that aids people in extracting ideas from their brains and creating relations between all the bits and pieces
  14. Business ethics are similar across the world.