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Opportunity Costs: How It Impacts Your Business
September 30 @ 1:00 PM - 2:00 PM EDT$99
Gain a solid understanding of opportunity cost and how to incorporate it in your analysis and business decision making.
Decision makers always look at only cash expense as the cost associated with an undertaking but forget the other aspect which does not form a line item in the P&L, the opportunity cost. Opportunity cost lies at the heart of making economic decision making, a concept which is taught in top MBA schools all over the word. This topic will help you to identify and include opportunity cost in decision making as well as look at how to compute economic profits. The topic will help you explore ways to evaluate alternative undertakings and make business decisions based on opportunity costs and economic profits.
- You will be able to identify age old profit equation.
- You will be able to discuss drilling deeper and understanding costs.
- You will be able to recognize why companies outsource as opposed to doing certain tasks themselves.
- You will be able to describe a possible framework for evaluating alternatives and making decisions.
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