CMAT Critical Thinking and Decision Making 3

Question 1

The 'satisficing' approach to decision making, proposed by Herbert Simon, means:

Accepted Answer

Selecting the first acceptable solution rather than exhaustively seeking the best one

Answer

Satisfying all stakeholders simultaneously before deciding

Answer

Choosing the optimal solution from all available options

Answer

Using satisfaction surveys to guide the decision-making process

Question 2

Which of the following is a key characteristic of 'wicked problems'?

Accepted Answer

They are complex, ill-defined challenges with conflicting stakeholder values

Answer

They have a definitive and universally optimal solution

Answer

They can be solved using standard algorithms and procedures

Answer

They are simple recurring problems that follow predictable patterns

Question 3

A 'SWOT analysis' is primarily used to:

Accepted Answer

Assess an organization's strategic position relative to its environment

Answer

Calculate key financial ratios for investor reporting

Answer

Schedule and sequence project tasks and milestones

Answer

Measure and rank employee performance outcomes

Question 4

Which of the following best represents 'divergent thinking'?

Accepted Answer

Generating multiple possible solutions to an open-ended problem

Answer

Arriving at a single correct answer through sequential logical steps

Answer

Evaluating a list of options based on predetermined scoring criteria

Answer

Selecting the most efficient process from a set of existing options

Question 5

In decision making, 'risk aversion' describes a preference for:

Accepted Answer

A certain outcome over an uncertain one with the same expected value

Answer

Maximizing expected value regardless of the variance of outcomes

Answer

Choosing uncertain options that offer higher potential returns

Answer

Ignoring probability estimates in the decision-making process

Question 6

The 'Five Whys' technique is used in problem solving to:

Accepted Answer

Identify the root cause of a problem by repeatedly asking 'why'

Answer

Evaluate five strategic alternatives simultaneously

Answer

Set five measurable performance targets for a project team

Answer

Rank five decision criteria in order of importance

Question 7

Which of the following represents a 'false dichotomy' fallacy?

Accepted Answer

Stating 'Either we cut costs or the company will fail' with no other options considered

Answer

Presenting two opposing viewpoints for a balanced policy debate

Answer

Using statistical data to support two equally valid conclusions

Answer

Offering customers two product choices that are genuinely the only options available