1. A past outlay or loss that cannot be altered by current or future actions. 2. A cost that has already been incurred and cannot be recovered. Differs from future costs, such as decisions about inventory purchase costs or product pricing. they are excluded from future decisions because the cost will be the same regardless of the outcome of a decision.
Leadership Advocate and Co-Founder of the Goldzone Group. I help leaders to master the new rules of leadership for the new economy. Over the past 30 years, I have visited over 500 cities in 54 countries to explore, learn from, and help many of the world’s leading companies, leaders, and luminaries in the fields of science, technology, health, finance, entrepreneurship, and leadership.