Do You Maximize Or Satisfice?

Let Me Speak To A Manager

People tend to fall into two categories as decision-makers. The first group is maximizers, those who strive to make choices that will return the maximum benefit. Then there are the satisficers (made-up word blending satisfy and suffice), those whose choices are determined by more modest criteria and nothing more. In this episode, we look at both approaches' ramifications and reflect on critical decisions we've made in our own careers.

In this episode:

• “The Paradox of Choice”
• Why maximizers struggle to enjoy the journey
• Paralysis by analysis
• What type of questions do you ask yourself when making a big decision?
• The concept of “mental accounting”
• Do the results of our decisions correlate with satisfaction?
• Where do famous CEOs fall on this spectrum?