Which of the below leads managers to engage in satisficing?
A)escalation of commitment
B)decision making via algorithms
C)decision making via heuristics
D)bounded rationality
E)equifinality

Question

Quizplus · Accepted Answer

Bounded rationality is the concept that managers have limited information, time, and cognitive abilities to make decisions. As a result, they tend to engage in satisficing, which means they choose the first option that meets their criteria instead of evaluating all possible options. This is more likely to happen when managers are faced with complex or ambiguous situations. Escalation of commitment refers to the tendency to persist with a failing course of action, decision making via algorithms refers to the use of mathematical formulas or computer programs to make decisions, decision making via heuristics refers to using mental shortcuts or rules of thumb to make decisions, and equifinality refers to the ability to reach the same outcome through different paths or approaches. While these concepts may influence decision making, they do not necessarily lead to satisficing.

Which of the Below Leads Managers to Engage in Satisficing