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111.Marie-Helene de Taillac is a well-known European designer of understated, very delicate jewelry.  Once she determined that further growth was impossible without changing how she distributed her product, she decided to open her own retail outlet to sell her product rather than letting department stores sell it.  Since she made the decision without really examining the costs involved in implementing her decision, she has engaged in _____ behavior.

a.benchmarking

b.laddering

c.satisficing

d.maximizing

e.leapfrogging

112.Rational decision making:

a.has five steps that must be performed in order to identify solution that will be satisficing

b.ends with the selection of an optimal solution that provides maximum benefits to the organization

c.is conflict-free

d.is not concerned about costs

e.begins with the establishment of a budget

113.As mangers try to take a rational approach to decision making, they must contend with bounded rationality, which means they are restricted by:

a.real-world constraints

b.benchmarking

c.methodology validity

d.information overload

e.all of these

114.Japanese-based Bandai, the world’s third-biggest toymaker, plans to acquire several smaller companies in an effort to knock Mattel out of its first place in the industry.  Due to _____, it will not have access to all of the information it would need to make a 100% satisfactory selection of the toy manufacturers it needs to acquire to reach its goal.

a.bounded rationality

b.satisficing standards

c.resource maximization barriers

d.rational munificence

e.synergistic issues

115.In the 1960s, Coca-Cola executives in Atlanta learned there was a bottler in the Colombian jungle that was bottling pirated Coke in dumped bottles.  Since the soft drink company was at that time expanding globally and building its reputation on exacting production standards, Coca-Cola decided it had to either bring some sort of legal action against the unauthorized bottler, ignore it, or buy it.  Legal action was not feasible due to the differences in ethical and legal environments between the United States and Colombia.  In this case, bounded rationality was created by:

a.real-world constraints

b.incomplete and imperfect information

c.Coca-Cola’s own limited decision-making capabilities

d.information overload

e.all of these

116.__________ occurs when managers choose an alternative that is good enough, rather than the best possible alternative.

a.Maximizing

b.Optimizing

c.Availability bias

d.Negative frame

e.Satisficing

117.In making rational decision, most managers __________ rather than __________.

a.maximize; satisfice

b.optimize; maximize

c.satisfice; maximize

d.optimize; idealize

e.maximize; optimize

118.In the 1960s, Coca-Cola executives in Atlanta learned there was a bottler in the Colombian jungle that was bottling pirated Coke in dumped bottles.  Since the soft drink company was at that time expanding globally and building its reputation on exacting production standards, Coca-Cola decided it had to either bring some sort of legal action against the unauthorized bottler, ignore it, or buy it.  Legal action was not feasible due to unfamiliarity with the ethical and legal environments in Colombia.  Coca-Cola’s desire to build a global brand prevented it from ignoring the Colombian bottler.  Because of __________, legal action was not a viable solution to the problem.

a.bounded rationality

b.satisficing standards

c.resource maximization barriers

d.rational munificence

e.synergistic issues

119.In the 1960s, Coca-Cola executives in Atlanta learned there was a bottler in the Colombian jungle that was bottling pirated Coke in dumped bottles.  Since the soft drink company was at that time expanding globally and building its reputation on exacting production standards, Coca-Cola decided it had to either bring some sort of legal action against the unauthorized bottler, ignore it, or buy it.  Legal action was not feasible due to unfamiliarity with the ethical and legal environments in Colombia.  Coca-Cola’s desire to build a global brand prevented it from ignoring the Colombian bottler.  Coca-Cola had to engage in __________ and buy the bottler.

a.satisficing behavior

b.making an optimal decision

c.positive framing

d.maximizing the solution

e.eliminating uncertainty

120.In theory, fully rational decision makers ______ decisions by choosing the optimal decision.

a.satisfice

b.maximize

c.evaluate

d.identify

e.apply

 

 

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