A sunk cost is a cost that has already been incurred and cannot be recovered.
Self-disruption is the process of a company recalibrating its strengths through the identification and capitalization of emergent opportunities, thus disrupting its own operational paradigms and product portfolios.
At the core, Relationship Management enables companies to have a better overview of their relationship with clients or customers
Innovation Cycles: Iterative phases of ideation, development, and implementation leading to continuous improvement of products/services.
The Sunk Cost Fallacy is a toxic mindset that keeps people and companies investing in failed projects even when they should be stopped.
Sunk-cost bias affects decision-making in innovation projects, leading to zombie projects. Daily reflection and mindfulness meditation can help reduce sunk-cost bias and the anticipation of regret in the future if a project is abandoned.
