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.
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