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Managerial Decision Making - Escalation of Commitment

Discuss a time when you were involved, either as an individual or as part of a group, in a decision in which escalation of commitment took place. How did you feel about the decision and the escalation? 200-250 words.

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//Before writing about the 'Escalation of Commitment' by describing a real situation or incident, it is essential to have knowledge about the main aspect of the concept. One should know about the key concept of Escalation of Commitment, which further will assist in analyzing the situation in an effective manner//

Escalation of Commitment

It is an irrational involvement of a person into making a decision, of continuing a project that has previously failed due to lack of money or time. It is the form of throwing good money into a particular project after the bad. Due to emotions and ego, people do not pull out their ...

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The response addresses the queries posted in 392 words with references. It first discusses escalation of commitment in general before mentioning a more specific example of this.