Madetra makes low-priced leather handbags and wallets.They keep their costs down,but have to cut some corners.Now,their rate of return is 25 percent.Madetra considers this a(n)________ or "good enough" solution.

Question

Quizplus · Accepted Answer

The term "satisficing" refers to a decision-making strategy in which an organization aims to find a solution that is good enough to meet its needs and objectives, rather than trying to optimize its performance. In this scenario, Madetra's decision to keep costs low and achieve a 25 percent rate of return suggests that they are utilizing a satisficing strategy, rather than attempting to optimize their profits or minimize their costs.

Madetra Makes Low-Priced Leather Handbags and Wallets