Question

In which of the following situations is satisficing evident?

A. A manager trying to develop an optimal solution
B. A manager choosing the best possible alternative after considerable research rather than settling for the first solution he comes across
C. A manager trying to achieve an ideal solution rather than seeking an acceptability threshold
D. A manager choosing a particular alternative because it fits the budgeted amount for a project

Answer 1

Satisficing occurs when a decision-maker settles for a solution that is 'good enough' rather than the best possible. This is illustrated in option D, where a manager chooses an option that fits the project's budget, instead of seeking the optimal solution.

Step-by-step explanation:

In which of the following situations is satisficing evident? Satisficing is a decision-making process that seeks a satisfactory solution rather than an optimal one. Of the options provided, satisficing is evident in situation D, where a manager chooses a particular alternative because it fits the budgeted amount for a project. In options A, B, and C, the manager is either developing or seeking an optimal or ideal solution, which is contrary to the concept of satisficing.

The term satisficing itself originates from a blend of 'satisfy' and 'suffice,' reflecting the approach of aiming for a solution that is good enough to meet the acceptance criteria or constraints, like budget limitations, rather than being the best possible solution.