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The Escalation of Business Commitments

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             In our life we have many situations where we perceive, that the best course of action is to commit further resources to a failing investment, the term "escalation of commitment" focuses only on those situations where objective evidence indicates that continuing with an investment is unwise, and yet an individual chooses to invest more in spite of this. .
             3. Explanations for the Escalation of Commitment.
             Scientific Research has revealed several possible explanations for the escalation of commitment phenomena. This abstract will examine several concepts and studies referring to the explanations of the phenomena in business management. The first concept is "the theory of self-justification" and has been defined by Staw and Ross as a possible explanation for the phenomena (Staw and Ross, 1980). Study findings revealed that managers with a "high personal responsibility for the project" are more likely to "escalate" after receiving negative reviews about the projects. The reason for this higher risk of escalation of managers derives from the need to "justify the original decision" so that they still will be viewed as capable and competent to complete the project" (Staw, 1976). .
             In general, the higher the responsibility is for an investment by managers, the higher is the threat of failure for them, as they feel personally responsible for the course of action. The consequence is an increase in a manager's motivation to justify the previous course of action to him. Many managers eliminate this personal conflict by persuading themselves that their failing course of action will be saved if they simply invest more resources. If the project will turn out successful through the continued investment, this will prove their validity of the original decision. Moreover, the success will remove the "cognitive dissonance created by the initial negative feedback" (Sleesman et al.


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