Answer the following statements true (T) or false (F)

Question

1. In time-critical situations, satisficing may be a good approach to decision making. 
2. One problem with the incremental model is that temporary steps may actually impede a beneficial long-term solution. 
3. When then-president of Chrysler Bob Lutz ordered the development of the Dodge Viper without supporting research but because it "just felt right," he was using the incremental model of decision making. 
4. Intuition based on feelings rather than expertise, or the involuntary emotional response to those feelings, is known as automated experience. 

Answer 1

1. TRUE
While looking for a solution that is merely "satisficing" might seem to be a weakness, it may well outweigh any advantages gained from delaying making a decision until all information is in and all alternatives weighed.
2. TRUE
In the incremental model, managers take small, short-term steps to alleviate a problem, rather than steps that will accomplish a long-term solution. Sometimes the temporary steps lead to a long-term solution but they may also impede a beneficial long-term solution
3. FALSE
Despite the lack of supporting marketing research, Bob Lutz, then-president of Chrysler Corporation, ordered the development of the Dodge Viper, a "muscle car" that became very popular. "It was this subconscious, visceral feeling," he said about his decision later. "And it just felt right." This is an example of the intuition model rather than incremental.
4. TRUE
Intuition based on feelings, or the involuntary emotional response to those same matters, is known as automated experience. Intuition that stems from expertise, or a person's explicit and tacit knowledge about a person, situation, object, or decision opportunity, is known as a holistic hunch.