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

Culture - organizational culture, Culture - Organizational Culture Som...

Culture - Organizational Culture Some people think of culture as the character or personality of an organization. How an organization looks and "feels" when you enter it is a

Define stage for their six sigma initiative, North Shore University hospita...

North Shore University hospital in Manhasset NY is part of the North Shore Long Island Jewish health system. The third largest non-sectarian health system in the US. The management

What is a theory, QUESTION 1 i) What is a theory? ii) Identify and d...

QUESTION 1 i) What is a theory? ii) Identify and describe the functions of theories. QUESTION 2 i) How do communication theories help us? ii) What is communicatio

Finance, What are three short-term financing and their examples?

What are three short-term financing and their examples?

Vertical and horizontal communication channels, QUESTION (a) Communicat...

QUESTION (a) Communication flows up, down and across the chain of command. Explain the major differences between vertical and horizontal communication channels. (b) Identify

What do you understand by internal controls, QUESTION 3 One of the respo...

QUESTION 3 One of the responsibilities of management is to ensure the organisation has an effective system of internal control. Required (a) What do you understand by inte

Explain the process of merger, Question 1 Write the types of mergers and a...

Question 1 Write the types of mergers and acquisitions. Describe the steps to a successful merger Question 2 Explain the process of merger. Write down the goals of a merger

Total operations orientation, Attend to machines predominantly only when t...

Attend to machines predominantly only when the machines breakdown ( breakdown maintenance or BM) Breakdown maintenance = BM

Effective oral communication, QUESTION 1 (a) Explain the term "Team". ...

QUESTION 1 (a) Explain the term "Team". (b) Elaborate on the characteristics of effective teams. (c) Discuss the benefits of effective teams to an organisation. QUEST

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