Match each term with the correct statement below.
-the tendency to increase commitment to a previously selected course of action beyond the level that would be expected if the manager followed an effective decision-making process
A) rational-economic model
B) ethical dilemma
C) behavioral decision model
D) bounded rationality
E) intuition
F) satisficing
G) escalation of commitment
H) vigilance
I) VJagond Yetton model

Question

Quizplus · Accepted Answer

Escalation of commitment refers to the phenomenon where individuals or organizations continue to invest time, money, or resources into a decision or action even when it becomes clear that it was a poor or wrong choice, rather than altering or abandoning the initial course of action. This behavior often occurs to justify previous investments or decisions, despite new evidence suggesting a different approach would be more beneficial.

Match Each Term with the Correct Statement Below