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MGMT 303 FINAL EXAM Questions and
Answers (100% Correct Answers)
Already Graded A+
Rational model of decision making (classical
model) Ans: -explains how managers should
make decisions
© 2025 Assignment
-assumes managers will make logical decisions
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that will be optimum in furthering the
organizations best interests
Expert
Non-rational model of decision making Ans:
assume that decision making is nearly always
certain and risky, making it difficult for
managers to make optimal decisions
Two non rational models:
1. Satisficing: managers seek alternatives until
they find one that is satisfactory, NOT optimal
2. Intuition: making a choice without the use of
conscious thought or logical inference. Stems
from both:
-expertise: a persons explicit and tacit
knowledge about a person, a situation, an object,
, 2
or a decision opportunity - is known as holistic
hunch
-automated: the involuntary emotional response
to those same matters
Bounded rationality Ans: suggests that the
ability of decision makers to be rational is
limited by numerous constraints such as
© 2025 Assignment
complexity, time, money, and their cognitive
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capacity, values, skills, habits, and unconscious
reflexes
Expert
Stages in rational decision making styles Ans: 1.
identify the problem or opportunity
2. think up alternative solutions
3. evaluate alternatives and select a solution
4. implement & evaluate the solution chosen
What are the 4 decision making styles? Ans: 1.
directive: people are efficient logical, practical,
and systematic in their approach to solving
problems
-action oriented, decisive, like to focus on facts
, 3
2. analytical: considers more information and
alternatives
3. conceptual: takes a broad perspective to
problem solving
-likes to consider many options and future
opportunities
© 2025 Assignment
4. behavioral: supportive, receptive to
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suggestions, show warmth
Expert
-prefers VERBAL to written
Organizational (corporate) culture Ans: the set
of shared, taken-for-granted implicit
assumptions that a group holds and that
determines how it perceives, thinks about, and
reacts to its various environments
organizational culture - what are the norms,
values, assumptions? Ans: Norms: organized and
shared ideas regarding what members should do
and feel, how this behavior should be regulated,
and what sanctions should be applied when
behavior does not coincide with social
expectations
, 4
Values: ideas & beliefs regarded as important to
a person or group
-espoused values: explicitly stated values and
norms preferred by an organization
-enacted values: represent the values and norms
actually exhibited in the organization
© 2025 Assignment
Basic assumptions: represent the core values of
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the organizations culture
Expert
-those taken for granted and highly resistant to
change
What is the competing values framework? Ans: A
framework for categorizing organizational
culture that shows how its core values affect its
culture
Types of cultures (competing values framework)
Ans: clan culture:
-internal focused
-values FLEXIBILITY rather than stability
-encourages collaboration among employees
MGMT 303 FINAL EXAM Questions and
Answers (100% Correct Answers)
Already Graded A+
Rational model of decision making (classical
model) Ans: -explains how managers should
make decisions
© 2025 Assignment
-assumes managers will make logical decisions
Guru01 - Stuvia
that will be optimum in furthering the
organizations best interests
Expert
Non-rational model of decision making Ans:
assume that decision making is nearly always
certain and risky, making it difficult for
managers to make optimal decisions
Two non rational models:
1. Satisficing: managers seek alternatives until
they find one that is satisfactory, NOT optimal
2. Intuition: making a choice without the use of
conscious thought or logical inference. Stems
from both:
-expertise: a persons explicit and tacit
knowledge about a person, a situation, an object,
, 2
or a decision opportunity - is known as holistic
hunch
-automated: the involuntary emotional response
to those same matters
Bounded rationality Ans: suggests that the
ability of decision makers to be rational is
limited by numerous constraints such as
© 2025 Assignment
complexity, time, money, and their cognitive
Guru01 - Stuvia
capacity, values, skills, habits, and unconscious
reflexes
Expert
Stages in rational decision making styles Ans: 1.
identify the problem or opportunity
2. think up alternative solutions
3. evaluate alternatives and select a solution
4. implement & evaluate the solution chosen
What are the 4 decision making styles? Ans: 1.
directive: people are efficient logical, practical,
and systematic in their approach to solving
problems
-action oriented, decisive, like to focus on facts
, 3
2. analytical: considers more information and
alternatives
3. conceptual: takes a broad perspective to
problem solving
-likes to consider many options and future
opportunities
© 2025 Assignment
4. behavioral: supportive, receptive to
Guru01 - Stuvia
suggestions, show warmth
Expert
-prefers VERBAL to written
Organizational (corporate) culture Ans: the set
of shared, taken-for-granted implicit
assumptions that a group holds and that
determines how it perceives, thinks about, and
reacts to its various environments
organizational culture - what are the norms,
values, assumptions? Ans: Norms: organized and
shared ideas regarding what members should do
and feel, how this behavior should be regulated,
and what sanctions should be applied when
behavior does not coincide with social
expectations
, 4
Values: ideas & beliefs regarded as important to
a person or group
-espoused values: explicitly stated values and
norms preferred by an organization
-enacted values: represent the values and norms
actually exhibited in the organization
© 2025 Assignment
Basic assumptions: represent the core values of
Guru01 - Stuvia
the organizations culture
Expert
-those taken for granted and highly resistant to
change
What is the competing values framework? Ans: A
framework for categorizing organizational
culture that shows how its core values affect its
culture
Types of cultures (competing values framework)
Ans: clan culture:
-internal focused
-values FLEXIBILITY rather than stability
-encourages collaboration among employees
