Episode 40 – Economics 101 – The Cost of Missed Opportunity
Welcome back to our Elevate Weekly Video Series. This week we’re up to Episode 40 of our series. Last week, we took a closer look at sustainable competitive advantage. If you missed the episode, I’ve included the link for you here.
A fundamental principle of economics is the concept of opportunity cost. It’s not a difficult concept to grasp, it’s simply the value of the best alternative or option that wasn’t chosen.
In this episode, we explore where you might come across opportunity cost in your business.
Have you weighed up the opportunity cost of not making a change?
Check out this week’s video to find out more. As always, if you have any questions please don’t hesitate to reach out to me.
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