satisficing


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satisficing

the behaviour of an individual or firm in which, partly as the result of inadequate information, rather than seeking to maximize profits. etc. as in orthodox theories of economic rationality, a 'satisfactory’ level of return is sought. Thus within the firm, organizational objectives such as increased size, prestige, or security, may have a greater priority than the maximization of profit. see also ORGANIZATIONAL CULTURE. ORGANIZATION THEORY.
References in periodicals archive ?
Rather, we find that the choice of coordination mode only in the case of stable tasks (i.e., the method of equal weighting and the satisficing approach), at best, has a marginal influence on the achieved performance and the speed of performance improvement.
Each "satisficing" solution set includes design attributes and components (i.e., values of independent variables) which satisfy the equality and inequality constraints specified by the fixed inputs and the performance criteria (Addison, 1988).
One obvious response is: "Okay, maybe satisficing on consumer
Taken en masse, these findings suggest that not only should research on performance evaluation and person perception utilize multiple dependent variables in order to tease apart differential effects such as these, but that in the field, providing more information seems to have a beneficial effect in that it is considered rather than simplified in a manner of satisficing. Some researchers have suggested that oftentimes more information leads to poorer outcomes and even a poorer emotional state for the decision maker (Schwartz et al., 2002).
Simon's notion of an agent having bounded resources (limited memory, processing ability, time) and using a strategy of satisficing instead of maximising personal gain was, for four decades, drowned out by the Wall Street hymn to greed, although recent times have seen a revival of Simon's ideas in the research of Gerd Gigerenzer and others.
Human nature, driven by the 'einstellung effect' (the tendency to rely on proven solutions, even in the face of knowing about better or more appropriate options; Bilalic et al., 2008), also tends to settle for, or have subsequent questing pursuit for innovative solutions mediated by, the first satisficing solution.
(2) See for instance: Vanessa Gash, "Sacrificing Their Careers for Their Families: An Analysis of the Penalty to Motherhood in Europe," Science + Business Media, Cathie March Centre for Census and Research; University of Manchester 93 (2009, January 17): 583; Susan Corby and Celia Stanworth, "A Price Worth Paying: Women and work - choice, constraint or satisficing,"
For example, managers can take the decision making shortcut of satisficing, defined as settling on some alternative that meets the minimum requirements (Moyer 2007).
Com o Satisficing, nao consideramos todas as opcoes possiveis e, entao, calculamos de maneira cuidadosa quais do universo inteiro de opcoes maximizarao nossos ganhos e minimizarao nossas perdas.
The functions of slack in organizations include: maintaining the coalition, easing conflicts, buffering against uncertainty, enabling innovation, allowing satisficing decision-making, and fueling organizational political fights (Bourgeois, 1981; Bowen, 2002).
In addition, as tagging is based on relativism, it will always produce less accurate results than traditional classification [8], and while tagging can be useful on a personal level or for a small group, in general it produces irrelevant, incomplete results that can lead to "satisficing" [7].