Question

Decision Point: Considering Alternatives Because of your inexperience, you don't know how many alternatives should be considered in your search for a replacement product. Should you search for as many alternatives as you can, research a limited number, or simply choose one?

Answer 1

Answer:

The answer is stated below:

Explanation:

Select a limited number of alternatives to consider: For example, considering the top 3 alternative suppliers.

Then generate or create a list of as many as possible of alternative suppliers.

Rely on the gut in order to make a decision regarding the right number of alternatives when you feel the time is right.

Deciding or choosing the limited number of alternatives , this concept is known as the bounded rationality. For most of the businesses, this is the most realistic approach for dealing with alternatives.