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Gut instincts can only take you so far in life, and anyone who operates outside of a sound decisioning framework will eventually fall prey to an act of oversight, misinformation, misunderstanding, manipulation, impulsivity or some other negative influencing factor. They make bad decisions. What would your family think of your decision?
Assess : Put the idea through a risk/reward and cost/benefitanalysis. Disruptive innovation is rarely raw genius that bubbles-up, but rather the culmination of several things: a sound idea, vetted through great process, refined by innovative application and brought to market by outstanding leadership. Thanks David.
Cutting costs is the oft-repeated phrase that companies are using to meet the downturn in the economy and the declining revenues and sales. For most, cost-cutting translates to job cuts in the organization. But there are other ways to tighten the belt and do operational budgeting. Retain Talent. Outsourcing and Freelance.
This is part of the HBR Insight Center Marketing That Works. While the outcome of a cost-benefitanalysis on offering lower cash (vs. credit) prices varies by company, there are two distinct cases when doing so may be particularly attractive: Low Dollar Purchases/Small Operation/Discount-related Brand.
Its primary social metric is the number of lives reached in base-of-pyramid markets. With a mission to fight poverty in New York City, the foundation puts each of its 200-plus grants through a cost-benefitanalysis every year. The MCC's approach is even more complex as it operates on a 20-year time horizon.
Conducting an accurate cost-benefitanalysis requires a holistic approach, one that incorporates costs and job placement and also accounts for how participants are doing after they leave the program. We need to adopt something similar to a “total cost of ownership” (TCO) analysis.
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