Opportunity Cost Neglect
A cognitive bias where individuals overlook or underestimate the cost of opportunities they forego when making decisions.
11 topics found for
“opportunity costs”
Operational Efficiency
The ability to deliver products or services in the most cost-effective manner without sacrificing quality.
Value Innovation
The simultaneous pursuit of differentiation and low cost, creating a leap in value for both the company and its customers, often associated with Blue Ocean Strategy.
ROI
Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of different investments.
Red Ocean
A market space that is already crowded with competition, where companies fight for market share, leading to intense rivalry and lower profitability.
White Label
A product or service produced by one company that other companies rebrand to make it appear as if they had made it.
KYC
Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients and assess potential risks of illegal intentions for the business relationship.
JAD
Joint Application Development (JAD) is a collaborative approach to gathering requirements and designing solutions in software development projects.
IoT
Internet of Things (IoT) refers to a network of interconnected physical devices embedded with electronics, software, sensors, and network connectivity, enabling them to collect and exchange data.