A sunk cost is a cost that has already been incurred and cannot be recovered.
Innovation Roles are key positions in an organization dedicated to driving and managing the innovation process.
Recycling is a process to convert waste into new materials and objects.
Innovation Jobs: Roles focused on creating and implementing novel solutions within organizations to drive growth and competitive advantage.
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.
