Heuristics are "rules of thumb" that managers use to simplify decision-making.

Question

Quizplus · Accepted Answer

Heuristics are indeed "rules of thumb" or mental shortcuts that managers use to simplify decision-making. They are based on past experiences, intuition, and common sense, and may not always lead to the best outcome. However, they can be useful in situations where quick decisions are needed and there is a limited amount of information available.

Heuristics Are "Rules of Thumb" That Managers Use to Simplify