Access over 20 million homework & study documents
search

Ventures Planned Are Opportunities Missed Essay

Content type

User Generated

Subject

Management

Type

Essay

Rating

Showing Page:
1/4
Ventures Planned, Are Opportunities Missed 1
VENTURES PLANNED, ARE OPPORTUNITIES MISSED
Student’s Name
Class
Name of the professor
Institutional Affiliation
City and State
Date

Sign up to view the full document!

lock_open Sign Up
Showing Page:
2/4
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.

Sign up to view the full document!

lock_open Sign Up
Showing Page:
3/4

Sign up to view the full document!

lock_open Sign Up
End of Preview - Want to read all 4 pages?
Access Now

Unformatted Attachment Preview

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 ...
Purchase document to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Anonymous
Really helped me to better understand my coursework. Super recommended.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4