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Describe the concept of escalating commitment. Explain why escalating commitment can occur.
Firm's Competitive Advantage
The unique attributes or capabilities that enable a business to outperform its competitors and achieve superior margins.
Organizational Goals
The objectives or targets that an organization aims to achieve, which guide its strategic planning and operations.
Strategic Framework
An overarching plan or structure that outlines an organization's strategy, including its goals, principles, and approaches to achieving its objectives.
Structural Variables
Factors that define the organizational structure, such as departmentalization, chain of command, span of control, and centralization or decentralization.
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