Question: What is meant by satisficing and bounded rationality? Why do managers not strive to find the economically best solution for many organizational decisions? What

What is meant by satisficing and bounded rationality? Why do managers not strive to find the economically best solution for many organizational decisions?

What techniques could you use to improve your own creativity and effectiveness in decision making?

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1 Satisficing and Bounded Rationality Satisficing Satisficing is a decisionmaking strategy coined by Nobel laureate Herbert Simon It involves settling for a solution that is good enough rather than st... View full answer

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