by alex
Effective decision making is a crucial skill that impacts both personal and professional success. This quiz will challenge your understanding of various decision-making models, biases, and strategies. Sharpen your decision-making skills and gain valuable insights as you navigate through these questions. Good luck!
Decision Making Quiz Questions Overview
1. What is the first step in the decision-making process?
Identifying the problem
Generating alternatives
Evaluating alternatives
Implementing the decision
2. Which decision-making model involves listing all possible options and their outcomes?
Rational model
Intuitive model
Garbage can model
Incremental model
3. What is a common cognitive bias that affects decision making?
Confirmation bias
Randomness bias
Symmetry bias
Equality bias
4. Which tool is commonly used for analyzing the pros and cons of different options?
SWOT analysis
Decision tree
Pareto analysis
Fishbone diagram
5. What is the purpose of a SWOT analysis in decision making?
To identify strengths, weaknesses, opportunities, and threats
To evaluate financial performance
To determine project timelines
To allocate resources
6. Which of the following is NOT a step in the Rational Decision-Making Model?
Defining the problem
Generating alternatives
Implementing the decision
Ignoring feedback
7. What is the Delphi technique used for in decision making?
To reach a consensus among experts
To prioritize tasks
To allocate resources
To analyze financial data
8. Which of the following describes ‘bounded rationality’?
Making decisions within the limits of available information and cognitive capacity
Making decisions based on intuition
Making decisions by considering all possible alternatives
Making decisions through group consensus
9. What is the main goal of using a cost-benefit analysis?
To compare the costs and benefits of different options
To identify potential risks
To evaluate team performance
To allocate resources
10. Which of the following is an example of a heuristic in decision making?
Using a rule of thumb
Conducting a detailed analysis
Consulting with experts
Developing a comprehensive plan
