Definition of satisfice in English:

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satisfice

Pronunciation: /ˈsatɪsfʌɪs/

verb

[no object] formal
Decide on and pursue a course of action that will satisfy the minimum requirements necessary to achieve a particular goal.
Example sentences
  • As Simon pointed out, we usually ‘satisfice’ instead of optimizing difficult problems due to limited time and insight, settling for a solution that is good enough.

Origin

Mid 16th century (in the sense 'satisfy'): alteration of satisfy, influenced by Latin satisfacere. The formal use dates from the 1950s.

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