Ventures Planned Are Opportunities Missed Essay

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Ventures Planned, Are Opportunities Missed 1

VENTURES PLANNED, ARE OPPORTUNITIES MISSED

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Ventures Planned, Are Opportunities Missed 2

Ventures Planned, Are Opportunities Missed

In virtually all business endeavors, every decision made has both the positive and

negative effects. How best to capture the positive effects and diminish the negative ones is

usually a concern for many people and organizations. Such a scenario makes our focus to shift to

the concept of opportunity cost, which is a measure of a price in reference to the next best

alternative forgone (Jackson, Sawyers, & Jenkins 2007). Thus, opportunity cost is the benefits

realizable in missed opportunity. In essence, business decisions must aim at capturing most

benefits gained by settling on a decision (Jackson, Sawyers, & Jenkins 2007). Applied in

business studies, this cost may denote the benefits businesses realize from making an informed

choice out of two or many others. As a concept, ventures planned might be opportunities missed,

especially in light of the fact that a given choice might lead us to miss out on certain

opportunities that other choices present.

In business discussions, opportunities are defined in monetary terms, but may also be

applicable in terms of ventures, mechanical output, and man-hours, or some other measurable

resource factors. While opportunities are always a preoccupation of every business owner,

ventures must always consider the explicit cost benefits while avoiding the underlying

weaknesses and threats attached to it. It is, thus, necessary to factor in opportunities and strengths

attached to an endeavor when considering a business undertaking (Lal 2009: 38). For instance, a

building and construction corporation might bid on two contracts where each will commit half of

its employees and equipment when the work commences. The opportunity presenting itself to the

firm would make it forgo other ventures because all its resources are committed to the processes.

Consequently, the firm might lose out on other contracts with larger and potentially rewarding

benefits than the ongoing endeavor.

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Ventures Planned, Are Opportunities Missed VENTURES PLANNED, ARE OPPORTUNITIES MISSED Student’s Name Class Name of the professor Institutional Affiliation City and State Date 1 Ventures Planned, Are Opportunities Missed 2 Ventures Planned, Are Opportunities Missed In virtually all business endeavors, every decision made has both the positive and negative effects. How best to capture the positive effects and diminish the negative ones is usually a concern for many people and organizations. Such a scenario makes our focus to shift to the concept of opportunity cost, which is a measure of a price in reference to the next best alternative forgone (Jackson, Sawyers, & Jenkins 2007). Thus, opportunity cost is the benefits realizable in missed opportunity. In essence, business decisions must aim at capturing most benefits gained by settling on a decision (Jackson, Sawyers, & Jenkins 2007). Applied in business studies, this cost may denote the benefits businesses realize from making an informed choice out of two or many others. As a concept, ventures planned might be opportunities missed, especially in light of the fact that a given choice might lead us to miss out on certain opp ...
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Tags: Ventures business endeavors Venture Planning management decision making