MGMT 353 Final Exam 2026 Questions
and Answers Graded A+
**Decision making** - Correct answer-Process of choosing among multiple
alternatives by evaluating outcomes and selecting the best option to achieve a goal
**Problem solving** - Correct answer-A focused type of decision making that
identifies a specific issue and determines the best solution
**Goal** - Correct answer-The desired outcome that drives and defines success of
a decision
**Alternatives** - Correct answer-The different possible actions available to
achieve a goal
**Outcome probabilities** - Correct answer-The likelihood that each alternative
will lead to certain results
**Choice** - Correct answer-The final selection of one alternative after evaluation
**Programmed decision** - Correct answer-Routine and repetitive decision
handled through rules or procedures with little judgment
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, **Nonprogrammed decision** - Correct answer-Unique and complex decision
requiring creativity and judgment due to lack of structure
**Certainty** - Correct answer-Condition where all outcomes are known and
predictable
**Risk** - Correct answer-Condition where outcomes are uncertain but
probabilities can be estimated
**Uncertainty** - Correct answer-Condition where outcomes and probabilities are
unknown
**Coalition** - Correct answer-Informal alliance formed to influence decisions
and achieve shared goals
**Intuition** - Correct answer-Instinctive judgment based on experience rather
than conscious reasoning
**Escalation of commitment** - Correct answer-Continuing a failing decision due
to prior investment or unwillingness to admit failure
**Risk propensity** - Correct answer-Individual's tendency to take or avoid risks
**Ethics** - Correct answer-Beliefs about right and wrong guiding decisions
**Prospect theory** - Correct answer-People prefer avoiding losses over achieving
equivalent gains
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and Answers Graded A+
**Decision making** - Correct answer-Process of choosing among multiple
alternatives by evaluating outcomes and selecting the best option to achieve a goal
**Problem solving** - Correct answer-A focused type of decision making that
identifies a specific issue and determines the best solution
**Goal** - Correct answer-The desired outcome that drives and defines success of
a decision
**Alternatives** - Correct answer-The different possible actions available to
achieve a goal
**Outcome probabilities** - Correct answer-The likelihood that each alternative
will lead to certain results
**Choice** - Correct answer-The final selection of one alternative after evaluation
**Programmed decision** - Correct answer-Routine and repetitive decision
handled through rules or procedures with little judgment
©COPYRIGHT 2026, ALL RIGHTS RESERVED 1
, **Nonprogrammed decision** - Correct answer-Unique and complex decision
requiring creativity and judgment due to lack of structure
**Certainty** - Correct answer-Condition where all outcomes are known and
predictable
**Risk** - Correct answer-Condition where outcomes are uncertain but
probabilities can be estimated
**Uncertainty** - Correct answer-Condition where outcomes and probabilities are
unknown
**Coalition** - Correct answer-Informal alliance formed to influence decisions
and achieve shared goals
**Intuition** - Correct answer-Instinctive judgment based on experience rather
than conscious reasoning
**Escalation of commitment** - Correct answer-Continuing a failing decision due
to prior investment or unwillingness to admit failure
**Risk propensity** - Correct answer-Individual's tendency to take or avoid risks
**Ethics** - Correct answer-Beliefs about right and wrong guiding decisions
**Prospect theory** - Correct answer-People prefer avoiding losses over achieving
equivalent gains
©COPYRIGHT 2026, ALL RIGHTS RESERVED 2
