When Ford Canada limits its search for new suppliers to an existing set of alternatives known to the purchasing manager, they are using which decision making strategy?
A)Incomplete information
B)Satisficing
C)Bounded rationality
D)Groupthink
E)Uncertainty

Question

Quizplus · Accepted Answer

This is an example of satisficing, where the decision maker chooses an option that is satisfactory rather than spending too much time and effort on searching for the optimal solution. In this case, Ford Canada is limiting their supplier search to a set of existing alternatives, which may not be the best possible options but are deemed satisfactory.

When Ford Canada Limits Its Search for New Suppliers to an Existing