Decision-Making Models

Description: This quiz is designed to evaluate your understanding of various decision-making models used in executive leadership.
Number of Questions: 15
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Tags: decision-making executive leadership politics
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Which decision-making model emphasizes the importance of gathering and analyzing data before making a decision?

  1. Rational Model

  2. Intuitive Model

  3. Political Model

  4. Incremental Model


Correct Option: A
Explanation:

The rational model is a decision-making model that emphasizes the importance of gathering and analyzing data before making a decision. It is based on the assumption that decision-makers have all the information they need to make a rational choice.

What is the key characteristic of the intuitive decision-making model?

  1. Reliance on data and analysis

  2. Consideration of multiple perspectives

  3. Use of past experiences and gut feelings

  4. Focus on long-term consequences


Correct Option: C
Explanation:

The intuitive decision-making model is characterized by the use of past experiences and gut feelings to make decisions. It is often used when time is limited or when there is a lack of information.

Which decision-making model involves bargaining and negotiation among different stakeholders?

  1. Rational Model

  2. Political Model

  3. Incremental Model

  4. Mixed-Scanning Model


Correct Option: B
Explanation:

The political model is a decision-making model that involves bargaining and negotiation among different stakeholders. It is based on the assumption that decision-makers are motivated by their own interests and that they will try to influence the decision-making process to achieve their goals.

What is the primary focus of the incremental decision-making model?

  1. Long-term planning and strategy

  2. Small, gradual changes to existing policies

  3. Comprehensive analysis of all available options

  4. Rapid decision-making in crisis situations


Correct Option: B
Explanation:

The incremental decision-making model focuses on making small, gradual changes to existing policies. It is based on the assumption that decision-makers are more likely to accept changes that are familiar and that do not disrupt the status quo.

Which decision-making model combines elements of the rational, intuitive, and political models?

  1. Mixed-Scanning Model

  2. Bounded Rationality Model

  3. Satisficing Model

  4. Prospect Theory Model


Correct Option: A
Explanation:

The mixed-scanning model is a decision-making model that combines elements of the rational, intuitive, and political models. It is based on the assumption that decision-makers use different strategies depending on the situation and the amount of information available.

What is the central idea behind the bounded rationality model?

  1. Decision-makers have limited cognitive capacity and information

  2. Decisions are always made in a rational and logical manner

  3. Stakeholders have equal influence in the decision-making process

  4. Past experiences are the sole basis for making decisions


Correct Option: A
Explanation:

The bounded rationality model is based on the idea that decision-makers have limited cognitive capacity and information. This means that they cannot process all the information available to them and must make decisions based on the information they have and the time they have to make the decision.

What is the goal of the satisficing decision-making model?

  1. Finding the optimal solution to a problem

  2. Making a decision that is good enough

  3. Considering all possible alternatives before making a decision

  4. Balancing the interests of all stakeholders equally


Correct Option: B
Explanation:

The satisficing decision-making model aims to make a decision that is good enough, rather than finding the optimal solution. This is because decision-makers often have limited time and resources and cannot afford to consider all possible alternatives.

Which decision-making model incorporates the concept of loss aversion?

  1. Prospect Theory Model

  2. Game Theory Model

  3. Bayesian Decision Theory Model

  4. Heuristic Decision-Making Model


Correct Option: A
Explanation:

The prospect theory model incorporates the concept of loss aversion, which suggests that people are more sensitive to losses than to gains. This means that decision-makers may be more likely to avoid losses than to pursue gains.

What is the primary focus of game theory in decision-making?

  1. Analyzing the interactions between multiple decision-makers

  2. Evaluating the long-term consequences of decisions

  3. Identifying the optimal solution to a problem

  4. Considering the values and preferences of stakeholders


Correct Option: A
Explanation:

Game theory focuses on analyzing the interactions between multiple decision-makers who have conflicting interests. It is used to predict the behavior of other decision-makers and to develop strategies that will lead to the best possible outcome for the decision-maker.

What is the key assumption of Bayesian decision theory?

  1. Decision-makers have perfect information about the world

  2. The world is uncertain and probabilities can be assigned to events

  3. All stakeholders have equal influence in the decision-making process

  4. Decisions should be made based on past experiences and gut feelings


Correct Option: B
Explanation:

Bayesian decision theory assumes that the world is uncertain and that probabilities can be assigned to events. This allows decision-makers to make decisions based on the likelihood of different outcomes and to choose the option that has the highest expected value.

Which decision-making model relies on simple rules and mental shortcuts?

  1. Heuristic Decision-Making Model

  2. Prospect Theory Model

  3. Game Theory Model

  4. Bayesian Decision Theory Model


Correct Option: A
Explanation:

The heuristic decision-making model relies on simple rules and mental shortcuts to make decisions. This is because decision-makers often have limited time and resources and cannot afford to consider all possible alternatives.

What is the primary goal of the garbage can model of decision-making?

  1. Optimizing the allocation of resources

  2. Balancing the interests of all stakeholders

  3. Finding the most efficient solution to a problem

  4. Explaining how decisions are made in chaotic and unpredictable environments


Correct Option: D
Explanation:

The garbage can model of decision-making attempts to explain how decisions are made in chaotic and unpredictable environments. It suggests that decisions are often made based on the availability of resources and opportunities, rather than on a rational analysis of the problem.

Which decision-making model emphasizes the importance of considering the values and preferences of stakeholders?

  1. Stakeholder Theory Model

  2. Rational Model

  3. Political Model

  4. Incremental Model


Correct Option: A
Explanation:

The stakeholder theory model emphasizes the importance of considering the values and preferences of stakeholders when making decisions. It suggests that decision-makers should take into account the interests of all stakeholders, not just those who are directly involved in the decision.

What is the central idea behind the advocacy coalition framework?

  1. Decision-makers are motivated by their own interests and will try to influence the decision-making process

  2. Decisions are made based on the availability of resources and opportunities

  3. Stakeholders have equal influence in the decision-making process

  4. Policy change occurs through the interaction of advocacy coalitions


Correct Option: D
Explanation:

The advocacy coalition framework suggests that policy change occurs through the interaction of advocacy coalitions, which are groups of actors who share common beliefs and values and who work together to influence the decision-making process.

Which decision-making model focuses on the role of institutions and structures in shaping decisions?

  1. Institutional Theory Model

  2. Rational Model

  3. Political Model

  4. Incremental Model


Correct Option: A
Explanation:

The institutional theory model focuses on the role of institutions and structures in shaping decisions. It suggests that decision-makers are constrained by the institutional context in which they operate and that their decisions are influenced by the rules, norms, and values of the institutions they belong to.

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