The Manager As Decision Maker (cont. Bounded Rationality behave rationally within the parameters of a simplified decision-making process that is limited by an individual's ability to process information syfice-accept solutions that are "good enough" escalation ofcommitment-increased commitment to a previous decision despite evidence that it may have been wrong refusal to admit that the initial decision may have been flawed ©Prentice Hall,2002 6-13 The Manager As Decision Maker (cont.) Bounded Rationality – behave rationally within the parameters of a simplified decision-making process that is limited by an individual’s ability to process information – satisfice - accept solutions that are “good enough” – escalation of commitment - increased commitment to a previous decision despite evidence that it may have been wrong • refusal to admit that the initial decision may have been flawed © Prentice Hall, 2002 6-13