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Ch.4
Ch.4
38
Management
Undergraduate 3
01/24/2012

Additional Management Flashcards

 


 

Cards

Term
Computer Competency
Definition
ability to understand computers and us them to their best advantage
Term
Information Competency
Definition
ability to gather, analyze, and use information for decision making and problem solving
Term
Managment with Analytics
Definition
involves systematic gathering and processing of data to make it useful as information
Term
Information Systems
Definition
IT to collect, organize, and distribute data for us in decision making
Term
Information Systems
Definition
IT to collect, organize, and distribute data for us in decision making
Term
Management Information Systems
Definition
meet the information needs of managers in making daily decisions
Term
Problem Solving
Definition
identifying and taking action to resolve problems
Term
Performance Threat
Definition
situation in which something is obviously wrong or has the potential to go wrong
Term
Performance Opportunity
Definition
situation that offers the chance for a better future if the right steps are taken
Term
Systematic Thinking
Definition
approaches problems in a rational and analytical fashion
Term
Intuitive Thinking
Definition
approaches problems in a flexible and spontaneous fashion
Term
Mulitdimensional Thinking
Definition
ability to address many problems at once
Term
Strategic Opportunism
Definition
focuses on long-term objectives while being flexible in dealing with short-term problems
Term
Cognitive Styles
Definition
ways individuals deal with information while making decisions
Term
Structured Problems
Definition
straightforward and clear with respect to information needs
Term
Programmed Decision
Definition
applies a solution from past experience to a routine problem
Term
Unstructured Problems
Definition
ambiguities and information defiencies
Term
Crisis Decision
Definition
occurs when an unexpected problem that can lead to disaster if not resolved quickly and appropriately
Term
Certain Environment
Definition
complete info on possible action alteratives and their consequences
Term
Risk Environment
Definition
lacks complete info but offers "probabilities" of the likely outcomes for possible action alternatives
Term
Uncertain Environment
Definition
lacks so much info that it is difficult to assign probabilities to outcomes of alternatives
Term
Decision-Making Process
Definition
begins with identification of a problem and ends with evaluation of implemented solutions
Term
Cost-Benefit Analysis
Definition
comparing the costs and benefits of each potential course of action
Term
Classical Decision Model
Definition
describes decision making with complete info
Term
Optimizing Decision
Definition
chooses alternative giving absolute best solution to problem
Term
Bounded Rationality
Definition
making decisions w/in constraints of limited info and alternatives
Term
Behavioral Decision Model
Definition
decisions making w/ limited and bounded rationality
Term
Satisficing Decision
Definition
chooses first satisfactory alternative that comes to one's attention
Term
Lack-of-Participation
Definition
failure to involve in a decision persons whoe support is needed to implement it
Term
Spotlight Questions
Definition
test the ethics of a decision by exposing it to scrutiny through eyes of family, community members, and ethical role models
Term
Heuristics
Definition
strategies for simplifying decision making
Term
Availability Bias
Definition
bases a decision on recent info or events
Term
Representativeness Bias
Definition
bases a decision on similarity to other situations
Term
Anchoring and Adjustment Bias
Definition
bases a decision on incremental adjustments from a prior decision point
Term
Framing Error
Definition
trying to solve a problem in the context in which it is perceived
Term
Confirmation Error
Definition
occurs when focusing only on info that confirms a decision already made
Term
Escalating Error
Definition
continuation of a course of action even though it is not working
Term
Creativity
Definition
generation of a novel idea or unique approach that solves a problem or crafts an opportunity
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