escalation of commitment.
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Question 1 of 4:
Research cases of escalation of commitment in which more and more money was spent on losing propositions. Critically analyze the factors that might have led to the escalation of commitment.
Question 2 of 4:
Critically analyze a meeting that you have recently attended. Was the meeting effective? What factors contributed to the effectiveness of the meeting? What were some of the dysfunctional behaviors of meeting attendees that you noticed? What preventive steps would you take if you were to lead the meeting?
Question 3 of 4:
Give an example of a time when your group/team (or a group/team you know of) fell prey to the Abilene Paradox. Using the key causes of self-limiting behavior in groups, explain why you think this happened. What are some of the preventive measures the group could have taken to avoid the Abilene Paradox?
Question 4 of 4:
Use the Internet to research real-world unethical decision-making of companies and make sure to provide the reference in the reference page to tell where you found the information. Identify conditions that allowed this type of decision-making to flourish. What are some of the remedies that could have been employed in order to prevent unethical decision making?
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This answer offers cogent arguments relating to escalation of commitment.
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Assignments Week Four
Question 1 of 4:
Research cases of escalation of commitment in which more and more money was spent on losing propositions. Critically analyze the factors that might have led to the escalation of commitment.
One of the examples of escalation of commitment in which more and more money is spend on a losing proposition is the auction of art and buildings where there is an emotional attachment. Decisions that pay too much for the purchase can lead to financial ruin. Consider the example of the auction of Bloomingdale's for 600 million dollars. The factors responsible for it were emotional attachment and ego leading to the bankruptcy of Robert Campeau. From the world of business the example is that of the development of the premium phone Kin. The company had little experience in making phones and so continued to spend more time and money on development. When the phone was launched the development cost had crossed $1 billion. Needless to say that phone failed.
Question 2 of 4:
Critically analyze a meeting that you have recently attended. Was the meeting effective? What factors contributed to the effectiveness of the meeting? What were some of the dysfunctional behaviors of meeting attendees that you noticed? What preventive steps would you take if you were to lead the meeting? ...
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