Asked by Claudia Reyes on Apr 24, 2024
Verified
To avoid escalation of commitment, managers should compare actual progress with goals and timetables to conduct reality checks.
Escalation Of Commitment
The phenomenon where individuals or organizations continue to invest in a decision despite new evidence suggesting it may be a poor choice, often to justify previous investments.
Reality Checks
Moments or instances where one is forced to recognize the true nature of a situation, often contradicting prior beliefs or expectations.
- Comprehend strategies to avoid escalation of commitment and enhance managerial decision-making.
Verified Answer
FM
Fouad MoabiApr 30, 2024
Final Answer :
True
Explanation :
This is a widely recommended practice to avoid falling into the trap of escalation of commitment. By conducting reality checks, managers can make informed decisions about whether to continue investing resources or to cut losses and move on.
Learning Objectives
- Comprehend strategies to avoid escalation of commitment and enhance managerial decision-making.