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Free CMA Exam Braindumps (page: 163)

Page 163 of 336
PDF with 1336 Questions
View Related Case Study

A company has recently introduced total quality management (TQM). The company's top management wants to determine a new and innovative approach to foster total participation throughout the company. Management should

  1. Seek isolation from all distractions in order to think the problem through.
  2. Bring the employees together for a brainstorming session.
  3. Rely on them selves to develop a new approach.
  4. Use a disciplined problem-solving approach.

Answer(s): B

Explanation:

Group decisions tend to be more creative than individual decisions. One creative approach is brain- storming, which breaks down broadly based problems into their essentials. It is an unstructured approach that relies on the spontaneous contribution of ideas from all members of a group.



View Related Case Study

which of the following is not an assumption that is made when assuming rationality on the part of the company?

  1. The company chooses the decision that results in the maximum economic payoff.
  2. The criteria and alternatives can be ranked according to their importance.
  3. Specific decision criteria are constant and the weights assigned to them are stable over time.
  4. The company seeks solutions that minimize conflict.

Answer(s): D

Explanation:

According to Robbins, Organizational Behavior (6th ed. Prentice-Hall, 1993), rationally has the same assumptions as the optimizing (outcome maximizing) model for decision making. Rational decision making is fully objective and logical. The model assumes that a single, well-defined goal is to be maximized; that all relevant criteria and feasible options are known; that the criteria and options can be assigned numerical values and ranked; that preferences are constant (criteria and their assigned weights do not change); and that the decision maker will choose the option with the highest rank (the maximum benefits). However, rationality does not require an assumption about the vacancy of conflict.



View Related Case Study

A highly risk-averse decision maker will often react to bounded rationality by

  1. Satisfying.
  2. Ignoring the limiting factor.
  3. Attempting to find the optimum solution.
  4. Increasing the number of solutions considered.

Answer(s): A

Explanation:

Rational decision making is almost always subject to limitations that make the certain determination of the optimal decision impossible. Avery risk-averse decision maker may reactor such uncertainly by satisfying, that is, choosing an adequate course of action that is perceived to be safe. Satisfying thus leads to decisions that are not only less than optimal but also less than the best available.



View Related Case Study

A chief executive officer (CEO) believes that a major competitor may be planning a new campaign. The CEO sends a questionnaire to key personnel asking for original thinking concerning what the new campaign may be. The CEO selects the best possibilities then sends another questionnaire asking for the most likely option. The process employed by the CEO is called the

  1. Least squares technique.
  2. Delphi technique.
  3. Maximum likelihood technique.
  4. Optimizing of expected payoffs.

Answer(s): B

Explanation:

The Delphi Technique is a forecasting or decision making approach that attempts to avoid groupthink (the tendency of individuals to conform to what they perceive to be the consensus). The technique allows only written, anonymous communication among group members. Each member takes a position on the problem at hand. A summary of these positions is communicated to each member. The process is repeated for several iterations as the 1members move toward a consensus. Thus, the Delphi technique is a qualitative, not quantitative, technique.



Page 163 of 336



Post your Comments and Discuss Financial CMA exam with other Community members:

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INDIA
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Anonymous
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Georgodino commented on April 29, 2021
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Amer Alnajjar commented on March 11, 2019
Still the test is under process
Anonymous
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