The ‘sunk cost’ fallacy is widely recognized and accepted as exactly that, and yet businesses continue to burn their tech investment budgets on solutions that aren’t working for them because the cost of switching can seem too daunting to overcome.
In this whitepaper, we’ll explore:
- What the sunk cost fallacy is
- How it shows up in the business world
- The economics of the sunk cost fallacy for both SMB and enterprise businesses
- How businesses can overcome their fear of change management to deploy solutions that better serve their business objectives