MBA5121Examine the Escalation of Commitment in Decision-Making
Prepare a paper that summarizes the Steinkuhler et. al. (2014) study and its findings. Include an explanation of the following phenomena described in the article: self-justification, selective perception, sunk cost effect, and over-optimism. Then, select one of these four phenomena and describe its applicability to a real management decision that you have encountered or that you find through additional research. The management decision selected must have an international dimension. In what ways does this decision affect the overall health of the organization, both locally and globally? If the decision led to poor results, what would you recommend for future decisions and why?
Support your paper with a minimum of three scholarly resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.
Length: 5-7 pages, not including title and reference pages
Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course by providing new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.
Include an conclusion page.
Here’s are some references you can use.
Beshears, J., & Gino, F. (2015). Leaders as decision architects. (cover story).
Lashgari, M. (2015). Decision making under uncertainty the impacts of emotional intelligence and behavior patterns.
Steinkuhler, D., Mahlendorf, M., & Brettel, M. (2014). How self-justification indirectly drives escalation of commitment – a motivational perspective.
Razzi, K. (2012). Escalation of commitment and organizational commitment.