Reference no: EM132156937

What important trade-offs have you made recently? What was the opportunity cost associated with the trade-off? To what extent did you integrate the concept of cost-benefit analysis in the decision-making process to arrive at the most cost effective and efficient choice? In other words, based on the information at your disposal at the time of making the decision, what steps did you take to ensure that you were making the absolute best decision?

Assuming that you are a business owner faced with questions of What to Produce? How to Produce? and For Whom to Produce? what factors would you consider in answering these questions?