How to Avoid Escalation of Commitment refers to strategies and techniques used to prevent or mitigate the tendency to continue investing in a failing course of action, despite evidence that it is not working. This phenomenon, known as escalation of commitment, can occur in various settings, including business, relationships, and personal decision-making.
Escalation of commitment can have significant negative consequences, leading to wasted resources, missed opportunities, and damaged reputations. Recognizing and avoiding this trap is crucial for individuals and organizations seeking to make sound decisions and achieve success.
