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Why Is It So Hard for Managers to Internalize the Sunk-Cost

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Why is it so hard for managers to internalize the sunk-cost concept when making decisions?


Definitions:

Style Of Life

Style of Life, a concept introduced by Alfred Adler, refers to an individual's unique way of achieving superiority, coping with life's challenges, and striving towards personal goals.

Adler

Alfred Adler, an Austrian medical doctor, psychotherapist, and founder of the school of individual psychology.

Childhood Inferiorities

Feelings of inadequacy believed to begin in childhood, which can influence adult behavior and personality, as per theories in psychology, notably by Alfred Adler.

Extraversion-Introversion

A personality dimension that describes the extent to which an individual is outgoing and enjoys social interaction versus being more reserved and solitary.

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