Discussion
The concept that a manager's freedom to make totally rational decisions is restricted by internal and external environmental factors and by the manager's own characteristics and decision-making ability is called:
Answer: A
Correct answer: bounded rationality.
Bounded rationality names the whole set of limits on the decision maker: the information available, the time and resources, the organisation’s constraints, and the individual’s own capacity and values. Total rationality would require all of them to be absent, which is never the case.
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