Illustration based on business opening hours, Business Management

Assignment Help:

Business opening hours

a) Opportunity cost refers to the cost of the next best alternative that is foregone in a decision. In this case, it refers to the loss income by not opening supermarkets on Weekends.

b) Illustration of opportunity cost mentioned include

  • Loss of supermarket sales by not operating on Sundays or weekends or by not operating "24-hour stores".
  • Banks potentially losing clients on Weekends.
  • Fines for refusal.

These factors will obviously affect commerce decision making, e.g. whether to do business on Sundays or 24-hour a day.

 


Related Discussions:- Illustration based on business opening hours

Business model and designing a web strategy, Creating a New Internet Busine...

Creating a New Internet Business Here is a list of new businesses that could benefit from using the Web, listed. Select one of the businesses from this list and develop an Inte

Function of maintenance, The important functions of maintenance can be ...

The important functions of maintenance can be stated as follows: 1. To develop maintenance policies procedures and standards for the organization. 2. To schedule planne

Capstone project, Industry Analysis and Organizational Strategic Plan Th...

Industry Analysis and Organizational Strategic Plan This project is an individually-prepared strategic analysis with recommendations for a publicly-held corporation selected fro

Explain how a manager can motivate employees, Question 1: (a) Explain t...

Question 1: (a) Explain the control process. (b) Discuss the importance of control for managers to improve business performance. Question 2: Using Herzberg's theory

Benefits of tqm, 1. Advantages Unique to TQM a. It makes company a lea...

1. Advantages Unique to TQM a. It makes company a leader not follower. b. TQM creates goal directed connection between customers management and workers. Every on

What is new public management, QUESTION 1 (i) What is New Public Manage...

QUESTION 1 (i) What is New Public Management? (ii) Describe the New Public Management principles which help to transform public sector organisations into entrepreneurial age

Case study, Where do you stand on the issue

Where do you stand on the issue

Corporate communication and culture, Corporate Communication and Culture: ...

Corporate Communication and Culture: Corporate Communication An emerging area that has been increasingly found as a critical functional area within business companies

Written messages must be as readable as possible, Question 1 Communication...

Question 1 Communication skills are of utmost importance in managing information and technology in any organization. List the characteristics of communication and discuss the seve

MTMG320 Business Information Systems, Hi I am Nelson Daniels I am checking ...

Hi I am Nelson Daniels I am checking up on my Ticket ID EM13830601 I see my payment has been authorized I need help on my 5.5 - Research Exercise: Microsoft Dynamics Research Rep

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd