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Free CMA Exam Braindumps (page: 167)

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Rational decision making is a multistep process. In which stage of this process will effective communication to persons affected by the decision be most important?

  1. Evaluating possible solutions.
  2. Defining the problem.
  3. Following up.
  4. Gathering relevant information.

Answer(s): C

Explanation:

A decision cannot be communicated to affected parties until it has been made. Effective communication is vital to successful implementation of the change resulting from the decision. Follow-up to evaluate the decision will determine whether the decision was correct. One reason desired results may not be obtained is lack of effective commune captions.



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When making a decision to increase the robotic automation equipment in an existing face lily, a firm takes all of the following into consideration except

  1. Economies of scale.
  2. Opportunity cost.
  3. Technological efficiency.
  4. The initial cost of the current facility.

Answer(s): D

Explanation:

A firm considers such factors as price, relationships with suppliers, product demand, avoidable future costs, and economies of scale, opportunity costs, technological efficiency, and the capital-labor ratio when evaluating the purchase of new equipment. The cost of the current facility would not be relevant because it is a sunk cost.



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Rational decision making involves all of the following steps except

  1. Defining the problem.
  2. Taking sunk costs into account.
  3. Choosing an alternative.
  4. Implementing the decision.

Answer(s): B

Explanation:

The consideration of choices and the selection of the choice expected to give the best results are key parts of the planner's job. Rational decision making involves the following steps: defining the problem. Obtaining information, identifying alternative courses of action, making predictions about future costs, choosing and justifying an alternative, implementing the decision, and evaluating performance to provide feedback. One of the most common errors in decision making is taking sunk costs into account. Because sunk costs have already been incurred, they can play no role in rational decision making.



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The most common difficulty in problem solving is

  1. Obtaining information.
  2. identifying alternative courses of action.
  3. Defining the problem.
  4. Being aware of the existence of a problem.

Answer(s): C

Explanation:

Defining the problem is the most common difficulty in problem solving. Pitfalls in defining problems include defining the problem according to a solution, concentrating on no pertinent areas, and defining problems by their symptoms.






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