Asked by Maryam Ahsan on Jun 16, 2024
Verified
Absenteeism has become a problem at the Smelly Cheese Company, so the human resource manager has decided to do something about it.He has decided to choose the first solution he comes across that will get the level of absenteeism to what it was in the previous year.What is this an example of?
A) Anchoring effect
B) Satisficing
C) Sunk costs
D) Framing
E) Confirmation bias
Satisficing
A decision-making strategy that aims for a satisfactory or adequate result, rather than the optimal solution, due to limitations in time, information, or resources.
Absenteeism
Absenteeism refers to the habitual non-presence of an employee at their job without a valid reason, often affecting productivity and morale.
Anchoring Effect
The inadequate adjustment of subsequent estimates from an initial estimate that serves as an anchor.
- Gain an understanding of the satisficing theory and its importance in making decisions.
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Learning Objectives
- Gain an understanding of the satisficing theory and its importance in making decisions.
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