What is escalation of commitment?
What will be an ideal response?
Escalation of commitment refers to staying with a decision even when there is clear evidence it's wrong. Individuals escalate commitment to a failing course of action when they view themselves as responsible for the failure. In fact, people who carefully gather and consider information consistent with the rational decision-making model are more likely to engage in escalation of commitment than those who spend less time thinking about their choices. Perhaps they have invested so much time and energy into making their decisions that they have convinced themselves they're taking the right course of action and don't update their knowledge in the face of new information.
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Which of the following is not a characteristic of Kaizen budgeting?
a. Cost decreases in the budget are the result of performing the activities more efficiently and with higher quality. b. This approach cannot be used externally (e.g., to budget supplier costs). c. These budgets reflect continuous-improvement standards. d. These budgets adjust required resource demands based on targeted efficiency and productivity gains. e. This approach to budgeting can be used in conjunction with both traditional and activity-based budgeting.
A paralegal works for a toy manufacturer and there was a product recall. That recall likely came from:
A) Consumer Product Safety Commission. B) Landrum-Griffin Act. C) Occupational Safety and Health Board. D) Food and Drug Administration.