Satisficing - Definition
If you still have questions or prefer to get help directly from an agent, please submit a request.
We’ll get back to you as soon as possible.
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
What is Satisficing?
Satisficing is a strategy used in decision making that seeks a result that is good enough to tackle a situation but is understood to not be the optimal solution.
The strategy narrows down the scope of available options that have the possibility of achieving the desired outcomes. It then sets aside those options that will require intensive efforts to achieve the results.
Satisficing helps management to make the best decision that will save on the resources, time, and energy.
Back to: Management & Organizational Behavior