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.
Data Dynamics, Inc.
- Founder of Data Dynamics, Inc., a technology consulting firm that uses a vendor-agnostic and technology-neutral approach to providing maximum value to its clients
- 30 years of consulting experience in the areas of business performance improvement (through the application of technology, business process re-engineering, or both), business and IT strategies, and project/program management
- Worked with numerous clients in different industries such as automotive, warehousing, pharmaceuticals, telecommunications, health care, and utilities
- M.B.A. degree, Olin School of Business at Washington University; master’s degree in electrical engineering, University of Michigan; and bachelor’s degree in electrical engineering, Washington University
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