GSSC 1045 Chap 2 Practice
Strategic Decision Making Quiz
Test your knowledge on strategic decision making, managerial processes, and the frameworks that drive effective business solutions. This quiz covers various aspects of decision-making theories and practices in organizations.
- 36 insightful questions
- Designed for students and professionals
- Enhance your understanding of key concepts
Which of the following is not part of the six-step decision making process?
Solution test
Solution selection
Information collection
Solution generation
Problem identification
Solution implementation
Data collection
Decision making and problem solving occurs at which level of an organization?
Strategic
Operational
Managerial
All of the above
Which of the following are good examples of a managerial decision?
What new products and new markets does the company need to create competitive advantages?
What was the impact of last month’s marketing campaign on sales?
Who are our best customers by region, by sales representatives, by product?
What are next week’s production requirements?
How many problems occurred when running payroll?
Which of the following is not an example of an activity that happens strictly at the strategic decision making level?
Profit planning
Sales trend forecasting
Securing long term supplier contracts
Yearly sales analysis by region
Operational decision making requires lower management to measure Critical Success factors (CSF's) focused on effectiveness
True
False
Strategic decision making requires senior management to measure Key Performance Indicators (KPI's) focused on effeciency and also CSF's focused on effectiveness
True
False
Managerial decision making requires middle management and directors to measure KPI's focused on effeciency and also CSF's focused on effectiveness
True
False
Project is a temporary activity a company undertakes to create a unique product, service, or result
True
False
Metrics are measurements that evaluate results but are not concerned with whether or not a project is meeting its goals
True
False
Which of the following is a possible example of a critical success factor that may apply to your daily life?
Average time spent in REM sleep
Current student loan debt
Managing healthy eating habits
Number of matches on Tinder
None of the above
Key performance indicators are the quantifiable metrics a company uses to evaluate progress toward critical success factors
True
False
Which of the following is a good example of an external KPI?
Return on investment
Market share
None of the Above
Effectiveness is especially conserned about doing things right and not about doing the right things.
True
False
Measuring system results, comparing them to optimal system performance, and suggesting changes or procedures to improve performance is an example of...
Over clocking
Systems modeling
Benchmarking
The STU-view course sellection web application is an example of a structured operational system also known as a Transactional Processing System
True
False
Create, read, update, and delete (CRUD) are the common processes associated with..
Decision Support System (DSS)
Transaction Processing System (TPS)
Sellect all correct definitions of the four quantitative models used in a Decision Support System
Sensitivity analysis – the study of the impact that changes in one (or more) parts of the model have on other parts of the model
What-if analysis – finds the inputs necessary to achieve a goal such as a desired level of output
Goal-seeking analysis – checks the impact of a change in an assumption on the proposed solution
Optimization analysis - An extension of goal-seeking analysis, finds the optimum value for a target variable by repeatedly changing other variables, subject to specified constraints.
The TPS (Transactional Processing System) supplies transaction-based data to the DSS where it can be summarized and aggregated to be used to make managerial decisions
True
False
Executive information system (EIS) is a specialized DSS that supports senior level executives within the organization
True
False
Which of the following are true statements?
Digital dashboard refers to the level of detail in the model or the decision-making process
Digital dashboard produce graphical displays of patterns and complex relationships in large amounts of data
Digital dashboard Tracks KPIs and CSFs by compiling information from multiple sources and tailoring it to meet user needs
Executive Information Systems have which three capabilities?
Drill-down – enables users to get details, and details of details, of information
Modelling and Projection - looks at benchmarks and system information to create predictions on future results
Slice-and-dice – looks at information from different perspectives
Consolidation – involves the aggregation of information and features simple roll-ups to complex groupings of interrelated information
Intelligent agents are Artificially Intelligent special-purpose knowledge-based information systems that accomplish specific tasks on behalf of its users
True
False
Genetic algorithm is an artificial intelligent system that mimics the evolutionary, survival-of-the-fittest process to generate increasingly better solutions to a problem
True
False
Which of the five AI categories of attempt to emulate the way the human brain works using Fuzzy Logic?
Genetic Algorithms
Virtual Reality
Expert Systems
Neural Networks
Intelligent Agents
All of the above
Expert system are computerized advisory programs that imitate the reasoning processes of experts in solving difficult problems
True
False
Select all examples of customer facing processes
New product or service
Marketting campaign
Employee rewards
Goal setting
Product return policies
As-is process models show the results of applying change improvement opportunities to the current process model
True
False
To-be process model represents the past state of the operation that has been mapped, without any specific improvements or changes to existing processes
True
False
A to-be process model may be helpful in determining the changes in net profit after restructuring a resturants menu
True
False
Reengeering happens at the stragetic decision level, automation at the managerial, and streamlining at the operational.
True
False
Streamlining – Improves business process efficiencies by simplifying or eliminating unnecessary steps
True
False
Bottleneck – Occur when resources reach full capacity and cannot handle any additional demands
True
False
Business process reengineering (BPR) - Analysis and redesign of workflow within and between enterprises
True
False
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