Explain the Term bounded Rationality

question 6

Essay

Explain the term bounded rationality.

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Definitions:

Outsourced

Refers to delegating a business process or task to an external service provider rather than handling it internally within the organization.

Resistance

Opposition or pushback encountered when trying to implement change, often due to discomfort or disagreement with new policies or practices.

Old System

An outdated or legacy method, technology, or framework that has been superseded by more modern solutions but may still be in use.

New System

A recently implemented set of procedures, technologies, or methods designed to replace or improve upon an existing setup.