satisficing

Satisficing is a decision-making strategy which attempts to meet criteria for adequacy, rather than identify an optimal solution. A satisficing strategy may often, in fact, be (near) optimal if the costs of the decision-making process itself, such as the cost of obtaining complete information, are considered in the outcome calculus.
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Verb
1. decide on and pursue a course of action satisfying the minimum requirements to achieve a goal; "optimization requires processes that are more complex than those needed to merely satisfice"
(synonym) staisfise
(hypernym) act, move

A concept due to Herbert Simon which identifies the decision making process whereby one chooses an option that is, while perhaps not the best, good enough.
<Discussion > <References > Chris Eliasmith

a planning philosophy implying a firm's intention to continue to carry on its present operations in much the same way as it has always done . See Adaptivising, Optimising.