During the fallout of the global financial crisis of the late 2000s, finance companies had to make important decisions in a highly ambiguous environment. The decision to buy out failed banks could best be described as what type of decision?
A) Bounded
B) Programmed
C) Conventional
D) Wicked
E) Irrational

Question

Quizplus · Accepted Answer

The decision to buy out failed banks during the fallout of the global financial crisis of the late 2000s had a highly ambiguous environment, making it a wicked decision. Wicked decisions are those that are complex, uncertain, and have multiple stakeholders with conflicting interests. They often involve incomplete information, unclear cause-and-effect relationships, and significant uncertainty about outcomes. Bounded decisions involve limited choices based on available information, programmed decisions rely on established rules and procedures, and conventional decisions follow established norms and conventions. Irrational decisions are those that are not based on logic or reason. None of these descriptions fit the decision to buy out failed banks during the financial crisis.

During the Fallout of the Global Financial Crisis of the Late