Deciding Fast: Examining the Relationship between Strategic Decision Speed and Decision Quality across Multiple Environmental Contexts

1. "Fast decision-making undermines consensus building, and if viewpoints are sidelined, there is a heightened risk of dysfunctional intra-team behavior that might disrupt the decision (Kellermanns and Floyd, 2005)." (Refer p.4)

What potential consequence of fast decision-making is highlighted in the quote above?

Increased risk of cognitive biases.

Enhanced decision quality.

Disruption of the decision-making process.

Improved implementation strategies.

2. According to the paper, what is the relationship between strategic decision speed and decision quality?

A. There is a linear relationship between strategic decision speed and decision quality.

B. There is a curvilinear relationship between strategic decision speed and decision quality.

C. There is no relationship between strategic decision speed and decision quality.

D. It depends on the environmental context.

3. What is the optimal decision speed for maximizing decision quality?

Very fast.

Moderate.

Slow.

It depends on the environmental context.

4. What are some of the negative consequences of making decisions too quickly?

Incomplete information gathering.

Rushed decision-making.

Lack of consensus.

All of the above.

5. The paper discusses some of the decision-making tools and techniques that managers can use to help them make high-quality decisions in a timely manner. Which of the following tool is NOT suggested by the authors

Brainstorming.

SWOT analysis.

Decision trees.

Decision by consensus.

6. The paper's findings suggest that managers should:

A. Strive to make strategic decisions as quickly as possible.

B. Make strategic decisions in a timely manner, but they should also be mindful of the potential negative consequences of making decisions too quickly.

C. Not make strategic decisions at all.

7. The paper's findings are based on a sample of:

A. 100 strategic decisions made by organizations in a variety of industries.

B. 126 strategic decisions made by organizations in a variety of industries.

C. 200 strategic decisions made by organizations in a variety of industries.

8. Which of the following is NOT a key factor contributing to a strategic decision's success?

A. The quality of the information gathered.

B. The involvement of key stakeholders.

C. The speed with which the decision is made.

D. The ability to implement the decision.

9. Which of the following is NOT an ethical consideration involved in strategic decision-making?

A. The impact on the environment.

B. The impact on employees.

C. The impact on shareholders.

D. The impact on the company's image.