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?

a.     Functional

b.     Corporate

c.     Divisional

d.     Departmental

e.      Unit

Question 3 – When managers cannot assign probabilities of future occurrence to possible alternatives to a decision, this is known as __________.

a.     Certainty

b.     Risk

c.     bounded rationality

d.     uncertainty

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.

d.     Brainstorming.

Question 7 – The explosion of the space shuttle Challenger is an example of poor managerial decision-making wherein managers neglected the criterion of __________.

a.     ethicalness

b.     practicality

c.     legality

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.

a.     intuitive

b.     creative

c.     heuristic

d.     obvious

e.     optimum

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