A Decision Strategy That Seeks to Deliver an Adequate Solution

question 53

Multiple Choice

A decision strategy that seeks to deliver an adequate solution rather than the best possible solution is referred to as ________.

• A) inertia
• B) rationalizing
• C) satisficing
• D) anchoring

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Definitions:

Target Market

A specific group of consumers at which a product or service is aimed, characterized by particular demographics, interests, or needs.

Nonpersonal Communication

involves disseminating information to a wide audience through channels not involving personal contact, such as broadcasting or print media.

Firm's Stakeholders

Individuals or groups who have an interest or stake in the outcomes of a company's decisions, actions, and overall performance.

Unaided Recall Test

A measure of memory where individuals are asked to remember information without any prompts or cues.