Satisficing is a decision making strategy that picks the first option that meets a minimum requirement. This is often contrasted with perfectionism that seeks to maximize benefits but may require a longer and more expensive decision making process. In any decision making process, there's no guarantee that an optimal solution can be found. In some cases, a long decision making process achieves similar results to a short one. Satisficing can be more efficient than perfectionism when considering the cost of the decision making process itself.
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Picking the first option you find that meets a minimum requirement.
Satisficing is designed to make fast decisions in situations in which a more complex decision making process is unlikely to improve results.
This is the complete list of articles we have written about decision making.
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A list of decision making techniques.
The observation that groups may make collective decisions that are viewed as wrong or irrational by each individual member of the group.
A complete guide to the decision making process.
The difference between rational thought and logic.
The common types of uncertainty in decision making and strategy.
A definition of information costs with examples.
A definition of reverse brainstorming with examples.
The definition of decision fatigue with examples.
Taking a position that you do not necessarily agree with for the purposes of argument.
The definition of paradox of choice with examples.
An overview of problem solving with examples.
A list of thinking approaches and types.
A definition of workaround with examples.
A list of common creative thinking techniques.
A list of common types of problems.
The definition of analysis paralysis with examples.
The definition of the arrow of time with examples.
An overview of common business problems.
The definition of decision framing with examples.
The common types of research.
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