Sarine's Dolls With funding from her family, Sarine is currently developing a new line of dolls for her business which she hopes will take her company to the next level.At first, she encountered some minor problems with the construction of the dolls and spent a fair amount of money engineering a way to enable them to be like she envisioned.Unfortunately, she then found out that there was a patent protecting the way the dolls arms were connected, so she spent more money redesigning the dolls.After an unexpectedly uninterested response from the public in the dolls, she decided that they needed to be marketed differently in order to sell.So Sarine allocated more resources to marketing and had the packaging of the dolls redesigned and created new set of advertising materials.The cost of manufacturing these dolls has now exceeded four times the initial proposed cost, but she is determined to make it work.She is embarrassed by how this has gone, but continues to put on a brave front.What could Sarine have done differently in order to avoid this escalation of commitment with her decisions?

Question

Quizplus · Accepted Answer

One of the most effective ways to minimize escalation of commitment and confirmation bias is to ensure that the people who made the original decision are not the same people who later evaluate that decision.A second strategy is to publicly establish a preset level at which the decision is abandoned or reevaluated.A third strategy is to find a source of systematic and clear feedback.A fourth strategy to improve the decision evaluation process is to involve several people in the evaluation.

Sarine's Dolls with Funding from Her Family, Sarine Is Currently