I’m working on a Management question and need guidance to help me study.
1. Hello All
After watching the video Problem Solving Techniques #7: Cost-Benefit Analysis, I came up with the following concepts that I learned from the presentation:
From past experience, even though the cost benefit ratio shows that
the most expensive solution may not provide the best yield, it could be
the wiser choice. A simple example: Would you go to a pizza parlor and
order Chinese food? The cost benefit ratio may be better when buying the
product from the pizza shop but it is not something that they
specialize in. In the long run, it could prove to be disastrous. In
addition to the completion of a cost benefit analysis, there are several
other factors that need to be taken into consideration before a final
decision is made. Long term support, which source has a longer shelf
life, warranties, issue response time, and other items that may justify
the more expensive option.
2 .I was introduced to the Cost Benefit Analysis (CBA) roughly 2 years ago
and although I never know of this term before then I always approached
different tasks this way. The things I took away form the short video
were that you need to know what is expected to
complete/use a CBA properly. Additionally, how the author pointed out
that there are 4 items that go into make a CBA and what option you
choose. I like that he says its “greatest return for the cost of
implementation, decision making, cost data rationale, and verify the
cost effectiveness”. These are key items that truly have to be reviewed
while completing a CBA. Just because one proposed item is cheaper up
front does not mean it is cheaper in the long run or cause harm in other
departments or areas of the business. Implementing a new software can
be cheap, but training end users how to use it, maintaining the new
software, the lack of features and ability could cost you more in the
long run. Lastly, I liked that If you do not have all of the data you
cannot make a CBA that is valid due to not knowing what could go wrong
or impact the results. This was the most important take away that i had.
Why Work with Us
Top Quality and Well-Researched Papers
We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.
Professional and Experienced Academic Writers
We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.
Free Unlimited Revisions
If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.
Prompt Delivery and 100% Money-Back-Guarantee
All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.
Original & Confidential
We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.
24/7 Customer Support
Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.
Try it now!
How it works?
Follow these simple steps to get your paper done
Place your order
Fill in the order form and provide all details of your assignment.
Proceed with the payment
Choose the payment system that suits you most.
Receive the final file
Once your paper is ready, we will email it to you.
No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.
No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.
Admission Essays & Business Writing Help
An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.
Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.
If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.