{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Progress Check Questions for Chapter 4

Progress Check Questions for Chapter 4 - Adam Ward Progress...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Adam Ward Progress Check Questions for Chapter 4 4. Explain the satisficing approach to decision making. Satisficing means to select the first alternative that meets the decision maker’s minimum standard of satisfaction because the decision maker has incomplete knowledge of the alternatives. 6. Explain the difference between the maximax and maximin approaches to decision making. The maximax (optimistic) approach is selecting the alternative whose best possible outcome is the best of all possible outcomes for all alternatives. The maximin (pessimistic) approach compares the worst possible outcomes for each alternative and selecting the one that is least undesirable. 11. Which would be more important – a manager who is creative or a manager who knows how to encourage creativity among his employees? Why? A manager who encourages creativity among his employees is a more successful manager because creativity is a thinking process and involves coming up with a new idea. A manager that
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Ask a homework question - tutors are online