Adam WardProgress Check Questions for Chapter 44. Explain the satisficing approach to decision making.Satisficing means to select the first alternative that meets the decision maker’s minimum standard of satisfaction because the decision maker has incomplete knowledge of the alternatives.6. Explain the difference between the maximaxand maximinapproaches to decision making.The maximax (optimistic) approach is selecting the alternative whose best possible outcome is the best of all possible outcomes for all alternatives. The maximin (pessimistic) approach compares the worst possible outcomes for each alternative and selecting the one that is least undesirable.11. Which would be more important – a manager who is creative or a manager who knows how to encourage creativity among his employees? Why?A manager who encourages creativity among his employees is a more successful manager because creativity is a thinking process and involves coming up with a new idea. A manager that
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