Apply the Principles of Escalating Commitment to the Following Situation

question 43

Essay

Apply the principles of escalating commitment to the following situation to carry it forward in time, imagining what would happen next: You are a marketing manager at PrintCards, where you have for ten years had the most successful software for creation of all types of cards in the home or office environment. However, PrintCards is finally faced with competition from a more powerful software package, new to the marketplace, that came in at a price that is half the price of PrintCards. PrintCards quickly began to lose market share, but initially made no adaptation. New product could not be delivered for months into the future because of the timing of the product development cycle. You made a decision not to change the pricing structure of PrintCards because of your department's analysis that the old, higher pricing structure was fitting for a product with such high name recognition. Market share continued to decline.

---

Definitions:

Social Entrepreneurs

Entrepreneurs who focus on developing businesses and initiatives that aim to address and solve societal and environmental issues.

Socialistic Economies

Economic systems where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

Free Market Economies

Economic systems where prices for goods and services are determined by the open market and consumers, with minimal government intervention.

Global Governments

Collective term for the official governing bodies of countries and nations around the world, each with its own system of management and regulation.