Satisficing
A decision-making strategy that involves choosing an option that meets the minimum requirements rather than seeking the optimal solution, balancing effort and outcome.
224 topics found for
“decision-making strategy”
OODA Loop
Observe, Orient, Decide, and Act (OODA) is a decision-making framework often used in strategic planning and rapid response situations.
Take the Best Heuristic
A decision-making rule where individuals choose the option with the highest perceived value based on the first good reason that comes to mind, ignoring other information.
Decision Staging
The process of breaking down decisions into smaller, manageable stages to simplify the decision-making process.
Groupthink
A psychological phenomenon where the desire for harmony and conformity in a group results in irrational or dysfunctional decision-making.
Behavioral Strategy
The use of behavioral science insights to inform and guide strategic decision-making in organizations.
Behavioral Economics
The study of psychology as it relates to the economic decision-making processes of individuals and institutions.
Shared Information Bias
A cognitive bias where group members tend to discuss information that everyone already knows rather than sharing unique information, leading to less effective decision-making.
Fast and Frugal Heuristics
Decision-making strategies that use simple heuristics to make quick, efficient, and satisfactory choices with limited information.