Suppose you are the CEO of a large firm. In the middle of a busy day, an interior decorator arrives at your office to show you some wallpaper samples for the conference room in your building. Rather than spending a lot of time going through the samples, you simply pick one that is acceptable and politely ask the interior decorator to leave. This form of decision-making is an example of
A) intuition.
B) satisficing.
C) escalation of commitment.
D) vigilance.
E) bounded rationality.

Question

Quizplus · Accepted Answer

Satisficing is a decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, often due to time constraints or limited information. In this scenario, the CEO chooses an acceptable wallpaper sample quickly without seeking the best possible option.

Suppose You Are the CEO of a Large Firm