Ryan,the marketing manager at a company,decides to invest more money to promote a technology that has earlier failed at the market due to its technical incompetency.Ryan is unwilling to accept that the product lacks the competitive edge to survive in the market.This tendency of managers to not admit their mistakes and apply more resources to pursue a course of action that is not working is known as ________.

Question

Quizplus · Accepted Answer

Escalating commitment refers to the tendency of managers to invest more resources into a failing course of action, rather than admitting a mistake and changing direction. This is exactly what Ryan is doing by investing more money into promoting a technology that has previously failed at the market. The other answer choices (confirmation error, framing error, strategic opportunism, and lack-of-participation error) do not accurately describe the behavior exhibited by Ryan.

Ryan,the Marketing Manager at a Company,decides to Invest More Money