Which statement best summarizes the bounded rationality model of problem solving and decision making?
A) Managers critically view the world as complex and multivariate.
B) Managers generate a wide array of decision options and select the one that meets all decision criteria.
C) Managers are comfortable making decisions without identifying all options.
D) Managers follow statistical rules for decision making.

Question

Quizplus · Accepted Answer

Bounded rationality suggests that managers make decisions with limited information and resources, often settling for a satisfactory solution rather than an optimal one.

Which Statement Best Summarizes the Bounded Rationality Model of Problem