According to Simon (1977), most human decision making, whether organizational or individual, involves a willingness to settle for a satisfactory solution, "something less than the best." This is called satisficing
How does a decision maker go about satisficing?
When satisficing, the decision maker sets up an aspiration, a goal, or a desired level of performance and then searches the alternatives until one is found that achieves this level.
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While preparing the marketing plan for a new product line called Nature & Nurture, Jonas wrote the following: "Recent news about toxic materials in children's toys and repeated recalls of children's products due to safety concerns creates a
substantial market opportunity for Nature & Nurture products. As parents become more and more alarmed about the safety of their children's toys, they can be expected to place a greater premium on the nontoxic, environmentally friendly materials used for all Nature & Nurture products." This statement belongs in the ________ section of the marketing plan. A) company description, purpose, and goals B) marketing situation C) executive summary D) measurement and controls E) forecasting
What is the purpose of a corporate university?
What will be an ideal response?