Every time we choose to do something (consume it or produce it), we give up doing or gaining something else that could give us a certain level of benefit or satisfaction. Choices exist because of our limited (scarce) resources. Even if you were the richest person in the United States, you still cannot do more than one thing at a time. For example, you cannot watch a movie and sleep at the same time, and you cannot fish and bike at the same time.
When we make choices, we usually weigh several factors against each other to narrow down our options. These factors could be tangible, such as money, gifts, work, distance, personal ability, and so forth, and they could also be intangible (or immaterial), such as feelings, comfort, sleep, love, and so forth. We always go through a rational (or purposeful) thinking process when we make choices, although not all choices are rational!
We are going to examine how an entity made a decision and the impact of that decision.
Select a company, a supplier, a producer, a not-for-profit organization, a government agency, a community, or a social movement of your choice to analyze the process, costs, benefits, and the outcome of a major choice that the organization has made. A decision could be to expand production, relocate, eliminate a product or service line, hire more people, layoff workers, shut down operation, change their marketing approach, target a new market, or change the structure of the organization.
To start the selection process of your organization, select an organization or a company and then perform a quick online search for a major change in that company that impacted its labor force, market share, revenue, and costs. Or you could select the organization you work for or belong to and do similar search about them.