Opportunity engineering is a business strategy that embraces risk to leverage positive gains. It seeks to identify and harness opportunities that arise in uncertain environments, using a dynamic approach to minimize negative impacts. Managers may need training to overcome risk aversion, but the focus is on managing, not avoiding, risk. Opportunity engineering is a business […]
Opportunistic infections are caused by normally harmless microorganisms that become pathogenic in people with compromised immune systems. HIV/AIDS patients, cancer patients, and those taking immunosuppressive drugs are at risk. Prophylactic drugs and regular medical checkups can help prevent and identify infections, but treatment can be complicated by existing medical conditions. An opportunistic infection is an […]
A dental PPO is a dental insurance plan that requires patients to use dentists within the provider network for the best price, but also offers reduced coverage for out-of-network dentists. It differs from a dental HMO in terms of safety, referrals, and coverage. Plans can range from basic to comprehensive, with benefits including lower deductibles […]
Opportunity costs involve the resources given up to take advantage of an opportunity. Low opportunity costs involve giving up little resources, while high opportunity costs involve giving up more. Evaluating opportunity costs is important in all kinds of decisions. Opportunity costs in general have to do with the amount of costs involved in making some […]
Marginal opportunity cost combines opportunity cost and marginal cost to measure the cost of producing extra units of goods. It can be applied to business decisions, such as increasing production, or personal decisions, such as buying multiple ice cream cones. Marginal opportunity cost is an expression used to describe the amalgamation of two economic terms: […]
Constant opportunity cost is when the cost of pursuing an opportunity remains the same even as benefits change. It can be used in manufacturing or other economic situations, and can help businesses determine if an opportunity is worth pursuing. Constant opportunity cost is a situation in which the costs of pursuing a given opportunity do […]
