The data-driven, systematic use of the best available facts and information to improve management practice is referred to as ________.

• A. Intuition
• B. Evidence-based management
• C. Satisficing
• D. Bounded rationality

Answer: (B)

Evidence-based management is the data-driven, systematic use of the best available facts and information to improve management practice. It emphasizes making decisions grounded in solid evidence—research findings, organizational data, professional expertise, and stakeholder values—rather than relying on guesswork or habit. This approach helps reduce bias and unintended consequences by evaluating how well a practice works in real settings and adjusting based on results.

Intuition relies on gut feelings, which can be biased and inconsistent. Satisficing means choosing a satisfactory option because information is limited or time is tight, not necessarily the best option. Bounded rationality recognizes limits in information and cognitive capacity but doesn’t require a systematic use of evidence to guide decisions. Evidence-based management uniquely centers on leveraging credible evidence to inform choices and improve outcomes.