Firms are satisficing organizations because of uncertainty and a lack of adequate data.

Name: Firms are satisficing organizations because of uncertainty and a lack of adequate data.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Firms often aim for satisficing—a strategy of seeking satisfactory rather than optimal outcomes—due to the presence of uncertainty and the limitations in obtaining complete data, which makes it challenging to always make the best possible decision.

Firms Are Satisficing Organizations Because of Uncertainty and a Lack