A sunk cost is a cost that has already been incurred and cannot be recovered.
Value created by a company for a product or service for a customer and that customer perceives enough value to purchase the product.
Vertical Integration is often referred to as a strategic move made by a company wanting to move from the production end to sales end.
Innovation Index measures a firm's or country's capacity for and success in innovation.
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.
The Sunk Cost Fallacy is a toxic mindset that keeps people and companies investing in failed projects even when they should be stopped.