w2wlink Self-Quiz: The "Opportunity Cost" Factor of Managerial Decision-Making -- How thoroughly do you weigh costs? Do you consider all of the pertinent costs when you make important business decisions? Find out how thorough you are with w2wlink.com's Opportunity Cost Managerial Decisions Self-Quiz.
Refer to the opportunity costs listed below and circle the number factors from zero through 5 as appropriate for each question.
- Up front monetary costs
- Adminstrative costs
- Peace of mind costs
- Organizational costs
- Results costs
I usually consider (x) number of factors when I make an important business decision. 0,1, 2, 3, 4 or 5
I feel that I understand (x) number of factors. 0,1, 2, 3, 4 or 5
I feel comfortable talking about to a peer in my office about (x) number of factors. 0,1, 2, 3, 4 or 5
I feel comfortable talking about in a business meeting about (x) number of factors. 0,1, 2, 3, 4 or 5
I find (x) number of factors useful in making an important business decision. 0,1, 2, 3, 4 or 5
Add up your scores___________________________________________________
If you scored:
0-10: You are in the majority, and can learn about opportunity costs more. For a better understanding of opportunity costs w2wlink.com has created a tool to help you assess them to make better decisions as well as help your team to talk about them. See Opportunity Costs and Professional Women. The tool in the article, w2wlink.com's concise 5-Point Opportunity Cost Talk-Points Guide was developed from general management and leadership principles.
11-19 You are fairly comfortable with the concept of opportunity costs, yet could improve by reviewing it. w2wlink.com developed a 5-Point Opportunity Cost Talk-Points Guide from general management and leadership principles to help organize thoughts and ideas around this topic.
20-25 You are confident on the topic of opportunity costs. The guide created by w2wlink.com may be of help to you in maximizing your strength in this area. See w2wlink.com's concise 5-Point Opportunity Cost Talk-Points Guide developed from general management and leadership principles.
Jean Lewis,
has edited and written for consumer Web sites and publications reaching nearly 50 million people. Her credits include writing and editing online and print articles, sales and training materials, marketing collateral, and advertising and PR for conusmer companies including BeautiControl, a Tupperware subsidiary's publications to women ages 20s through 50s, the WHO Foundation, Women Helping Others, MCG Magazine, Los Angeles and Seasonal Living Guide for Sam’s Club, a retailing subsidiary of Wal-Mart. Her career also includes working and living in Canada and Japan. Jean is well regarded for her market-research based approach to managing story development enabling consistently original, relevant and timely content.
