Theme 2.3 Flashcards
Making operational decisions (25 cards)
What is the definition of operational decisions?
Operational decisions are day-to-day decisions that help run a business efficiently.
True or False: Operational decisions are typically made by lower-level management.
True
Fill in the blank: The process of determining the best course of action in a business is known as __________.
decision-making
What are the three types of operational decisions?
Structured, semi-structured, and unstructured decisions.
What is a structured decision?
A structured decision is one that is routine and has a clear procedure for making the decision.
Which decision-making model involves identifying the problem, generating alternatives, and evaluating choices?
Rational decision-making model.
What is the importance of data analysis in operational decisions?
Data analysis helps businesses make informed decisions based on evidence rather than intuition.
True or False: Operational decisions can affect long-term strategic goals.
True
What is the role of technology in making operational decisions?
Technology can streamline processes, provide data analytics, and enhance communication.
Name one advantage of using a decentralized decision-making approach.
It allows for quicker decisions and more local responsiveness.
What is the difference between tactical and operational decisions?
Tactical decisions are short-term actions that support strategic decisions, while operational decisions are daily actions taken to run the business.
Fill in the blank: The __________ approach to decision-making involves using a systematic process to evaluate options.
rational
What is the purpose of a decision matrix?
A decision matrix helps evaluate and prioritize different options based on specific criteria.
True or False: In operational decisions, ethical considerations are not important.
False
What is one common tool used for decision-making in operations?
SWOT analysis.
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats.
Name one factor that can influence operational decisions.
Market trends.
What is the role of feedback in the decision-making process?
Feedback helps assess the effectiveness of decisions and make necessary adjustments.
Fill in the blank: __________ decisions are often made in response to unexpected events.
Crisis
True or False: Group decision-making can lead to better outcomes than individual decision-making.
True
What is a key disadvantage of group decision-making?
It can be time-consuming.
What is the primary focus of operational decisions?
To ensure the efficient functioning of daily business activities.
What does the term ‘B2B’ stand for?
Business to Business.
What is one method businesses use to gather data for operational decisions?
Surveys.
