59- Hidden costs behind every decision
The opportunity costs are a super important concept for our decision-making process. They describe potential benefits that we miss out on because we decided to do something else. For example, focusing the company’s resources on rebranding instead of produ
An episode of the d.MBA podcast, hosted by Alen Faljic, titled "59- Hidden costs behind every decision" was published on September 1, 2021 and runs 11 minutes.
September 1, 2021 ·11m · d.MBA
Summary
The opportunity costs are a super important concept for our decision-making process. They describe potential benefits that we miss out on because we decided to do something else. For example, focusing the company’s resources on rebranding instead of product development. In this episode, we will cover: how opportunity costs affect decisions taken within companies, what are sunk costs and how to avoid sunk cost trap, and how we can present design solutions better to get more buy-in from senior stakeholders.
Episode Description
The opportunity costs are a super important concept for our decision-making process. They describe potential benefits that we miss out on because we decided to do something else. For example, focusing the company’s resources on rebranding instead of product development. In this episode, we will cover:
-
how opportunity costs affect decisions taken within companies,
-
what are sunk costs and how to avoid sunk cost trap,
-
and how we can present design solutions better to get more buy-in from senior stakeholders.
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