A company's senior management team was discussing moving its operations to a new location; however, the number of variables that would affect the move were so great that they could not begin to evaluate them all. This situation illustrates the concept of
A)programmed decision making.
B)bounded rationality.
C)dialectical inquiry.
D)illusion of control.
E)representativeness bias.

Question

Quizplus · Accepted Answer

Bounded rationality refers to the limitations on decision-making caused by the complexity of the situation and the inability to process all information or consider all variables, which is what the senior management team is experiencing.

A Company's Senior Management Team Was Discussing Moving Its Operations