Making a choice among alternative is known as ……………………….

1. Identifying alternate among choices
2. Analysis of choices
3. Decision Making
4. None of these
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Answer: C
Explanation:
• Making Choice among alternates is the last step and it is decision making
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The consistent, value maximizing decision made by managers within specific constraints is known as ……………………

1. Bounded rationality
2. escalation of commitment
3. Rational Decision Making
4. None of these
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Answer: C
Explanation:
• Rationality defines how valid are the decisions within specific constraints…
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Rational managerial decision making assumes that decisions are made in the best ……….. Interest of the organization.

1. internsic
2. extrinsic
3. economic
4. None of these
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Answer: C
Explanation:
• Economic interest covers both internsic and extrinsic benefits for organization and it is the most suitable answer.
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while define the rationality, not only we assume that …………….. Is clear and unambiguous but also assume the alternate and consequences are known.

1. decision
2. solution
3. problem
4. None of these
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Answer: C
Explanation:
• in rationality we assume the problem is define and umabiguous, all alternates and consequences are known.
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we can define …………….. As a behavior of the manager that is rational within the parameters of a simplified decision-making process, which is limited by an individual's ability to process information.

1. Rationality
2. Bounded Rationality
3. Satisfice
4. None of these
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Answer: B
Explanation:
• bounded rationality is limited within specific parameters, the satisfice the managers for their decision but not maximize.
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An increased commitment to a previous decision despite evidence that it may have been wrong is known as ………………………..

1. Bounded rationality
2. escalation of commitment
3. Rational Decision Making
4. None of these
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Answer: B
Explanation:
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…………………………. Is a subconcious process of making decisions on the bsis of experience and accumulated judgement.

1. Bounded rationality
2. Intuitive Decision Making
3. Rational Decision Making
4. None of these
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Answer: B
Explanation:
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Straight forward, familiar and easily defined problems are known as……………..

1. structured problems
2. well structured problems
3. poorly structured problems
4. None of these
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Answer: B
Explanation:
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…………………. Is repetitive dicision that can by handled by a routine approach.

1. structured problems
2. well structured problems
3. poorly structured problems
4. Programmed decision
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Answer: D
Explanation:
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…………………….. Is defined as a series of interrelated sequential steps that can be used to respond to a well-structured problem

1. Rule
2. Policy
3. Procedure
4. None of these
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Answer: C
Explanation:
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