MGT 301 CORE EXAM 2026 TEST QUESTIONS AND
SOLUTIONS RATED A+
✔✔Four General Decision Making Styles - ✔✔analytical- high tolerance for task and
technical concerns
conceptual- high tolerance for people and social concerns
directive- low tolerance for task and technical concerns
behavioral- low tolerance for people and social concerns
✔✔Relaxed Avoidance - ✔✔taking no action in the belief that there will be no great
negative consequences
✔✔Relaxed Change - ✔✔realizing complete inaction will have negative consequences
but opts for the first available alternative
✔✔Defensive Avoidance - ✔✔can't find a good solution and follows by (a)
procrastinating, (b) passing the buck or (c) denying the risk
✔✔Nine Common Decision-Making Biases - ✔✔1. the availability bias
2. the representativeness bias
3. the confirmation bias
4. the sunk-cost bias
5. the anchoring and adjustment bias
6. the overconfidence bias
7. the hindsight bias
8. the framing bias
9. the escalation of commitment bias
✔✔Group Decision Making: How to work with others - ✔✔advantages:
- greater pool of knowledge
- different perspectives
- intellectual stimulation
- better understanding of decision rationale
- deeper commitment to the decision
✔✔Disadvantages of group decision making - ✔✔- few people dominant or intimidate
- satisfying the "good enough" decision
- goal displacement- other issues may arise
- groupthink- agreeing for the sake of unanimity and thus avoid accurately assessing the
decision situation
✔✔Symptoms of Groupthink - ✔✔1. Sense of invulnerability
2. Rationalization
3. Illusion of unanimity and peer pressure
4. "The wisdom of crowds"
, ✔✔What managers need to know about groups and decision making? - ✔✔- groups
take longer to make decisions
- their size effects decision quality
- optimal group size is 5-7 people
- odd group numbers are best
- they may be too confident
- knowledge counts
✔✔When a group can help in decision making - ✔✔1. when it can increase inequality
2. when it can increase acceptance
3. when it can increase development
✔✔Consensus - ✔✔occurs when members are able to express their opinions and reach
agreement to support the final decision
✔✔Brainstorming - ✔✔technique used to help groups generate multiple ideas and
alternatives fro solving problems
✔✔Rules for Brainstorming - ✔✔1. defer judgment
2. build on the ideas of others
3. encourage wild ideas
4. go for quantity over quality
5. be visual
6. one conversation at a time
✔✔The Delphi Technique - ✔✔- a group process that uses physically disperse experts
who fill out questionnaires to anonymously generate ideas
- the judgements are combine and in effect averaged to achieve a consensus of expert
opinion
- originally designed for technological forecasting but now is used as multipurpose
planning tool
✔✔Decision Support System - ✔✔- a computer-based information system that provides
a flexible tool for analysis and helps managers focus on the future
- produces collected information known as business intelligence
✔✔How to stand out in a new job - ✔✔- be aware of the power of first impressions
- see how people behave by arriving early and staying late
- network with people and find out how the organization works
- ask for advice
- overdeliver
SOLUTIONS RATED A+
✔✔Four General Decision Making Styles - ✔✔analytical- high tolerance for task and
technical concerns
conceptual- high tolerance for people and social concerns
directive- low tolerance for task and technical concerns
behavioral- low tolerance for people and social concerns
✔✔Relaxed Avoidance - ✔✔taking no action in the belief that there will be no great
negative consequences
✔✔Relaxed Change - ✔✔realizing complete inaction will have negative consequences
but opts for the first available alternative
✔✔Defensive Avoidance - ✔✔can't find a good solution and follows by (a)
procrastinating, (b) passing the buck or (c) denying the risk
✔✔Nine Common Decision-Making Biases - ✔✔1. the availability bias
2. the representativeness bias
3. the confirmation bias
4. the sunk-cost bias
5. the anchoring and adjustment bias
6. the overconfidence bias
7. the hindsight bias
8. the framing bias
9. the escalation of commitment bias
✔✔Group Decision Making: How to work with others - ✔✔advantages:
- greater pool of knowledge
- different perspectives
- intellectual stimulation
- better understanding of decision rationale
- deeper commitment to the decision
✔✔Disadvantages of group decision making - ✔✔- few people dominant or intimidate
- satisfying the "good enough" decision
- goal displacement- other issues may arise
- groupthink- agreeing for the sake of unanimity and thus avoid accurately assessing the
decision situation
✔✔Symptoms of Groupthink - ✔✔1. Sense of invulnerability
2. Rationalization
3. Illusion of unanimity and peer pressure
4. "The wisdom of crowds"
, ✔✔What managers need to know about groups and decision making? - ✔✔- groups
take longer to make decisions
- their size effects decision quality
- optimal group size is 5-7 people
- odd group numbers are best
- they may be too confident
- knowledge counts
✔✔When a group can help in decision making - ✔✔1. when it can increase inequality
2. when it can increase acceptance
3. when it can increase development
✔✔Consensus - ✔✔occurs when members are able to express their opinions and reach
agreement to support the final decision
✔✔Brainstorming - ✔✔technique used to help groups generate multiple ideas and
alternatives fro solving problems
✔✔Rules for Brainstorming - ✔✔1. defer judgment
2. build on the ideas of others
3. encourage wild ideas
4. go for quantity over quality
5. be visual
6. one conversation at a time
✔✔The Delphi Technique - ✔✔- a group process that uses physically disperse experts
who fill out questionnaires to anonymously generate ideas
- the judgements are combine and in effect averaged to achieve a consensus of expert
opinion
- originally designed for technological forecasting but now is used as multipurpose
planning tool
✔✔Decision Support System - ✔✔- a computer-based information system that provides
a flexible tool for analysis and helps managers focus on the future
- produces collected information known as business intelligence
✔✔How to stand out in a new job - ✔✔- be aware of the power of first impressions
- see how people behave by arriving early and staying late
- network with people and find out how the organization works
- ask for advice
- overdeliver
