 |
The hiring success rate of managers has long been estimated at just 50%, which completely squares with the uncertainty involved.
|
31 |
 |
When we embark on an endeavor, we also accumulate debris – the time, money, and effort we have spent. As we accumulate costs, the mass grows, escalating our commitment and making it more an more difficult to quit.
|
96 |
 |
…past history with a decision can influence you to escalate commitment when someone fresh to the decision might quit.
|
100 |
 |
When you are doing something that you already know you can accomplish, you’re not learning anything important about whether the endeavor is worth pursuing.
|
114 |
 |
Whether is comes to following through with diet plans or work plans or study plans… precommitment contracts get people to act more rationally.
|
117 |
 |
…when you set out clear kill criteria in advance and make a precommitment to walk away when you see those signals, you are just more likely to follow through, even when you are losing.
|
127 |
 |
When we commit to a course of action, it means that, in some sense, we now own that decision.
|
144 |
 |
We are all trying to defend ourselves against how we imagine other people are going to judge us. We get it in our heads that if we don’t stick to our original choice, that will reflect negatively on us.
|
172 |
 |
If extreme positions become more integral to who we are, we ought to see less escalation of commitment from those with consensus positions.
|
174 |
 |
There is no longer honor in spending every last bit of investor money pursuing an endeavor that’s failing. Returning capital to investors is the responsible choice under those circumstances and demonstrates the ability to make the hard decision when it’s the right thing to do.
|
184 |
