Satisficing Theory

Sarah W. Nelson

Classical decision-making theory presumes decision makers to be rational actors who seek optimal or maximum solutions. This model, also known as rational choice, suggests that decision makers follow a linear sequence to arrive at a solution: 1. Identify desired outcome(s) in light of the organization's goals and objectives. 2. Consider all possible alternatives. 3. Consider the consequences of each alternative. 4. Select the alternative that will most likely result in the desired outcome. Inherent in this model is the assumption that a decision maker is capable of knowing all possible solutions ...

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