The Maximin Approach to Decision Making Refers To

question 177

Multiple Choice

The maximin approach to decision making refers to:

• A)minimizing the maximum return.
• B)maximizing the minimum return.
• C)maximizing the minimum expected value.
• D)choosing the alternative with the highest payoff.
• E)choosing the alternative with the minimum payoff.

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Definitions:

Satisfier Factors

Elements of a job or environment that increase employee satisfaction and motivation, based on Herzberg's Motivation-Hygiene Theory.

Frustration-Regression Principle

The principle that an already satisfied need can become reactivated when a higher-level need is blocked.

ERG Theory

A theory of human motivation proposed by Clayton Alderfer that categorizes human needs into three primary groups: Existence, Relatedness, and Growth.

Reactivated Need

A previously satisfied need that becomes active or relevant again due to changing circumstances or stimuli.