Which decision-making approach explicitly recognises that managers may choose a satisfactory alternative rather than an...
Type: MCQ • Marks: 1
Which decision-making approach explicitly recognises that managers may choose a satisfactory alternative rather than an optimal one because of practical constraints?
Options
A. Classical rationality
B. Scientific management
C. Bounded rationality
D. Bureaucratic control
Explanation
Bounded rationality recognises limits on information, time and cognitive capacity, leading often to satisficing rather than optimisation.
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UPSC Principal & Vice PrincipalManagement Finance Administration
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