A sunk cost is a cost that has already been incurred and cannot be recovered.
Protection against unauthorized access, misuse, or hacking of information housed in digital systems, via software or physical means.
Design Thinking Process is an iterative methodology for creative problem solving that involves empathizing with the user, defining the problem, ideating solutions, prototyping, and testing.
First-Mover Advantage refers to the benefits companies gain by being the first to enter a new market or develop a new product.
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.
