Judgment in Managerial Decision Making Essay

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Some of that came from the sunk costs, but much of it also came from the escalation of commitment between the countries, as well (Beniada, 2006). In other words, if there are two entities working on a project and one of them says it will not back down and will finish the project, the other entity will often do the same to save face and to keep its commitment. That is an important way that companies and individuals continue with the commitments they have made to one another, but it can also be problematic when it leads to an overzealous belief that a project must be completed no matter what, and that both entities working on the project have to focus their entire beings on the project at hand. The Concorde was very expensive, took longer to build than expected, and cost both Britain and France much more than the countries would have assumed it would, in financial and other ways (Beniada, 2006).

While the end result was a supersonic transport like nothing that had been seen before, one has to consider the cost to create that and whether there was a true level of value in doing so. That is the real issue, and one that France and Britain could not adequately focus on because they had too much money sunk into the project by the time they realized how much more it was going to require to complete it (Beniada, 2006).

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Additionally, neither country wanted to back out of the deal and be seen as the reason the Concorde failed (Beniada, 2006). With that in mind, both France and Britain escalated their commitments to one another for all the wrong reasons, when it would have been much more logical to mutually agree to scrap the project or make changes to it that would have helped them save a great deal of money on the cost of building and flying the plane. Maintenance and flight costs were not properly taken into account, which greatly affected the total cost of the….....

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