Stop doubling down on your failing strategy: how to spot (and escape one before it's too late)

Published: Nov 1, 2017
Abstract
People have a tendency to stick to an existing course of action, no matter how irrational. In the management literature, this is known as an escalation of commitment, and in nearly every academic case study on the demise of a former industry leader, it played a major role. The story of the British music company HMV—whose managing director dismissed downloadable music as “just a fad”—is a classic example. Escalation of commitment is explained...
Paper Details
Title
Stop doubling down on your failing strategy: how to spot (and escape one before it's too late)
Published Date
Nov 1, 2017
Journal
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