Satisficing is a decision-making process that strives for adequate rather than perfect results. Satisficing aims to be pragmatic and saves on costs or expenditures. The term "satisfice" was coined by American scientist and Noble-laureate Herbert Simon in 1956.

When satisficing the decision maker selects the best solution?

In the satisficing approach, the decision maker selects the first alternative that meets his or her minimum standard of satisfaction. A managers values define his or her ethics and affect the selection of performances measures, alternatives, and choice criteria in the decision process.

When you Satisfice That means you quizlet?

When you satisfice, that means you: the decision-making process is more efficient.