Planning - MCQs with answers - Part 1

Planning - MCQs with answers - Part 1

1. Rearrange the steps in the decision- making process logically.

A. Identification of a problem
B. Identification of decision criteria
C. Allocation of weights to criteria
D. Development of alternatives
E. Analysis of alternatives
F. Selection of an alternative
G. Implementation of the alternative

a. GFEDCBA
b. CDBAFEG
c. ABCDEFG
d. GCDABEF

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2. State true or false.

i. Managers when plan, organise, lead and control are called decision makers.

a. True
b. False

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3. Which of the following is an assumption of rationality to rationale decision making?

a. Preferences are clear
b. Final choice will maximise payoff
c. The problem is clear and unambiguous
d. All of the above

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4. ___________ is accepting solutions that are "good enough".

a. Bounded rationality
b. Satisficing
c. Escalation of commitment
d. None of the above

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5. Making decisions on the basis of experience, feelings and accumulated judgement is called as __________.

a. Decision making
b. Structured problems
c. Intuitive decision making
d. None of the above

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6. Who is the CEO of Nike?

a. D. Perez's
b. John. T. Chambers
c. Phil Knight
d. None of the above

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7. Which of this is not mentioned in decision-making matrix?

a. Analytic
b. Behavioural
c. Directive
d. Performance management

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8. Which software provides key performance indicators to help managers monitor efficiency of projects and employees?

a. Management Information System
b. Business Performance Management
c. Enterprise Application Software
d. Online analytical Processing

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9. ___________ is a rule of thumb that managers use to simplify decision making.

a. Sunk - costs
b. Framing
c. Heuristics
d. None of the above

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10. State true or false.

i. Availability bias is when decisions makers tend to remember events that are most recent.

a. True
b. False

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