Question: Developing a plan can as well aid in making sure that future decisions are good one. There are some instances where if one engages in
Developing a plan can as well aid in making sure that future decisions are good one. There are some instances where if one engages in escalation of commitment it could imply that they are deviating from the set plan, or they do not have a plan at all. Developing a plan and setting up visual aids that would act as red flags to indicate that one is going engaging in escalation of commitment can be very helpful. In the development of a plan one could indicate the amount of sunk cost that they would be willing to incur at each stage of the decision-making. A plan should as well indicate the total future costs of the decision and the desired future benefit. Designing a plan with red flags would ensure that the owner or business manager sticks to the intended plan and not deviate from it
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