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Chapter 10
Final Exam Study Guide
17
Management
Undergraduate 2
04/29/2010

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Term
Rational Model
Definition

Logical four-step approach to decision making

1. identifying the problem

2. generating alternative solutions

3. selecting a solution

4. implementing and evaluating the solution

Term
Nonrational models
Definition
decision models that explain how decisions actually are made
Term
Bounded rationality
Definition
Constraints that restrict rational decision making
Term
Satisficing
Definition
Choosing a solution that meets a minimum standard of acceptance ("good enough")
Term
Garbage Can Model
Definition
holds that decision making is sloppy and haphazard
Term
Judgmental Heuristics
Definition
Rules of thumb or shortcuts that people use to reduce information-processing demands
Term
Knowledge Management
Definition
implementing systems and practices that increase the sharing of knowledge and information throughout an organization
Term
Tacit Knowledge
Definition
information gained through experience that is difficult to express and formalize
Term
Explicit knowledge
Definition
Information that can easily be put into words and shared with others
Term
Value Orientation
Definition
reflects the extent to which an individual focuses on wither task and technical concerns or people and social concerns when making decisions
Term
Tolerance for Ambiguity
Definition
extent to which a person has a high need for structure or control in his life
Term
Intuition
Definition
capacity for attaining knowledge or understanding without rational thought or logic
Term
Holistic hunch
Definition
a judgment that is based on subconscious integration of information stored in memory
Term
Automated experiences
Definition
a choice that is based on a familiar situation and a partially subconscious application of previously learned information related to that situation
Term
Minority dissent
Definition
extent to which group members feel comfortable disagreeing
Term
Nominal Group Technique (NGT)
Definition
process to generate ideas and evaluate solutions (silently think of ideas)
Term
Delphi Technique
Definition
process to generate ideas from physically dispersed experts
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