You Own a Firm That Possesses Some Special Factor That

question 39

Essay

You own a firm that possesses some special factor that gives you a cost advantage. Why would you incur an opportunity cost for holding this special factor?

---

Definitions:

Attainable

Something that can be achieved with effort, within the bounds of possibility.

Realistic

Pertaining to the accurate representation of the real world.

Timebound

Characterized by a specific duration or deadline within which a task or project must be completed.

Management by Objectives

A management strategy focusing on defining specific objectives that employees need to achieve within a set timeframe, followed by feedback on their performance.