To build or to buy? Exploring Sunk Cost Fallacy

https://is1-ssl.mzstatic.com/image/thumb/Podcasts112/v4/2c/7b/12/2c7b12e7-1a8a-b18b-85e0-de7d338b13a1/mza_8992145992724058812.jpg/600x600bb.jpg

The Intel by Auror: Retail Crime Intelligence Podcast

The Intel by Auror

33 episodes

5 days ago

Let's talk about the future of Retail Crime Intelligence and how leaders around the world are addressing ORC (Organized Retail Crime). From industry trends to peer-to-peer insights, this podcast covers the hottest topics of today with the biggest implications for our future. These talks are hosted by Auror, the platform for retailers focused on preventing crime, reducing loss, and making stores safer. Learn more at auror.co

Technology

RSS

All content for The Intel by Auror: Retail Crime Intelligence Podcast is the property of The Intel by Auror and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Technology

https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded_nologo/26987377/26987377-1658781534738-de44181f868d5.jpg

To build or to buy? Exploring Sunk Cost Fallacy

The Intel by Auror: Retail Crime Intelligence Podcast

31 minutes 19 seconds

1 year ago

To build or to buy? Exploring Sunk Cost Fallacy

In this episode of the Retail Crime Intelligence Podcast, host Bobby Haskins and Rhod Thomas, Auror’s Chief Customer and Commercial Officer, discuss whether companies should develop their own software or buy existing solutions.

Aside from the financial cost, Rhod gives insights into what organizations must consider before deciding. Bobby and Rhod share industry examples and ways to overcome the sunk cost fallacy that leaders tend to face.

This episode explores the best time to develop in-house solutions and when it’s more advantageous to collaborate or purchase from external providers.

Jump into the conversation:

(00:00) An introduction to the episode with guest Rhod Thomas

(05:05) Auror's impact on crime prevention and safety

(08:08) A decision-making process for building or buying software

(16:21) How the sunk cost fallacy affects all businesses

(18:42) Why you should fail fast and learn from your mistakes

(23:24) The cost of building an in-house solution

(25:54) Why you should consider the pace of technological advancement

Resources:

Rhod’s LinkedIn: https://www.linkedin.com/in/rhodrithomasnz
Bobby’s LinkedIn: https://www.linkedin.com/in/bobbyhaskins/
Auror’s website: https://www.auror.co/