Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.
A cost-benefit analysis is a tool used by businesses in their decision-making. It typically involves evaluating the potential rewards from specific actions and situations when compared to the total costs of taking said action (Mishan & Quah, 2020). It typically involves assigning monetary values to certain actions and intangible services, such as employee morale or customer satisfaction. A positive cost-benefit analysis is typically a prerequisite to pursuing a specific action.
A feasibility study is a much broader tool that considers an entire project or a business and provides a viewpoint of different considerations that may work for or against the success of the proposed venture. Some of the factors considered in feasibility studies include the return on investment, the possibility of generating revenue and projected consumer sales (Mishan & Quah, 2020). In addition, a feasibility study estimates whether the end goal of the venture is achievable at all, which may go beyond mere monetary gains (Mishan & Quah, 2020). Overall, feasibility studies are similar to cost-benefit analyses as they allow project managers to estimate the risks and returns of pursuing specific ventures, as well as determine best practices to be considered before advancing forward.
These preliminary evaluations have to tie to the organizational strategic plan. Without the overarching view of the matters, even if estimations of success are positive, they may amount to nothing because they went against the general direction the company is going towards. In a hypothetical e-commerce company, the cost-benefit analysis would focus on whether the shop will be able to acquire a positive return on investments in one year versus the costs of running the site as well as acquiring and transporting goods to customers (Mishan & Quah, 2020). Advertising will also be considered part of the total costs to estimate in this evaluation.
Reference
Mishan, E. J., & Quah, E. (2020). Cost-benefit analysis. Routledge.
Do you need this or any other assignment done for you from scratch?
We have qualified writers to help you.
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)
NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.
NB: All your data is kept safe from the public.