Managers Often Seek Solutions That Are Satisfactory and Sufficient

question 140

Multiple Choice

Managers often seek solutions that are satisfactory and sufficient. This is known as which of the following?

• A)optimal decision making
• B)satisfactory decision making
• C)risk
• D)satisficing

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Definitions:

Service Products

Intangible goods provided to consumers, such as healthcare, education, and financial advising, which cannot be physically possessed.

External Product Development

The process where a company outsources product development activities to external partners.

Development Strategies

Comprehensive plans or methodologies aimed at achieving long-term goals, such as economic growth, product innovation, or market expansion.

Service Design

The activity of planning and organizing a company's resources, infrastructure, communication, and materials to improve its service quality.