Which of the Following Illustrates the Phenomenon of "Escalating Commitment

question 62

Multiple Choice

Which of the following illustrates the phenomenon of "escalating commitment"?

• A) an increase in the commitment to a decision only when it begins to prove itself as correct or profitable
• B) continuing to invest time and money in a solution despite evidence of failure
• C) the need for top management to accept decisions made by lower levels and commit to their implementation
• D) incremental decision-making

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Definitions:

Living Standards

A measure of the wealth, comfort, material goods, and necessities available to a person, group, or society.

Opportunity Cost

The financial impact of rejecting the subsequent preferable alternative while opting for one choice over another.

Produce Watches

The process of manufacturing timepieces, typically involving assembly of various components to create functional wristwatches.

Produce Cheese

The process of making cheese from milk through coagulation, curdling, and pressing the solids.