Asked by bentley romanski on Jun 19, 2024
Verified
The tendency to increase effort and perhaps apply more resources to pursue a course of action that is not working is known as:
A) heuristics.
B) cost-benefit impact.
C) satisficing.
D) escalating cost impact.
E) escalating commitment.
Escalating Commitment
The continuation of a course of action even though it is not working.
Cost-Benefit Impact
The analysis or effect of comparing the costs and benefits of a decision, project, or investment.
- Recognize the influence of risk, certainty, and uncertainty on decision making.
Verified Answer
CC
Colton CashawJun 25, 2024
Final Answer :
E
Explanation :
Escalating commitment refers to the phenomenon where individuals or organizations continue to invest time, money, or effort into a failing course of action due to the significant resources already committed, rather than cutting their losses.
Learning Objectives
- Recognize the influence of risk, certainty, and uncertainty on decision making.
Related questions
Explain How Risk, Certainty and Uncertainty Influence the Decisions That ...
When Managers Are Unable to Even Assign Probabilities to the ...
The ___ Is Particularly Useful in Describing How People Make ...
The Ideal, but Seldom Achieved, Condition for Managerial Problem Solving ...
Nikolai and His Team Have Been Asked to Make a ...