You recently attended a board meeting of Bay Technologies at which the CEO told the board, "We need to hire two people to expand our top-management team. The team that we have in place now is good, but we're competing in too many industries. Our present staff simply doesn't have the time, information, resources, or mental capacities to effectively do what we are asking them to do. They need help. From this statement, you can tell that the CEO understands the limitation imposed on decision-makers by
A) satisficing.
B) escalation of commitment.
C) bounded rationality.
D) cognitive constraints.
E) reverse vigilance.

Question

Quizplus · Accepted Answer

The CEO's statement reflects an understanding of bounded rationality, which acknowledges that decision-makers are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make decisions.

You Recently Attended a Board Meeting of Bay Technologies at Which