When managers circumvent the rational decision-making model and find ways to satisfice, they are following the concept of ________.
A) jurisprudence
B) least-squared exemptions
C) bounded rationality
D) self-motivated decisions

Question

Quizplus · Accepted Answer

Bounded rationality refers to the idea that in decision-making, the cognitive limitations of the mind and the finite amount of time available to make a decision lead managers to seek a satisfactory solution rather than an optimal one, which is known as satisficing.

When Managers Circumvent the Rational Decision-Making Model and Find Ways