Manufacturers are increasingly participating in EHSQ programs. They realize that worker well-being, operational excellence, and compliance aren’t only ethically important, they’re also good business: Organizations with excellent safety, health, and environmental programs outperformed the S&P 500 by 3-5 percent.

Even in today’s constantly evolving world, there remains a truism. Those who are more successful produce better results than many of their peers. They do it better and faster than their counterparts. This is not intuitive for everyone. It has to be developed or redefined. 

Sunk costs are defined as costs that have already been incurred and cannot be recovered. Proponents of the sunk cost fallacy argue that since it is a cost paid in the past and unrecoverable, it should be removed from any future decision making. 

Navin Dedhia has been a pillar of the quality community since the 1960s, speaking and working on five different continents about the importance of quality.