Early in your career, saying ‘yes’ feels like the obvious path to success. A manager asks if you can take on another project. ‘Yes’. A colleague needs help preparing for an important presentation. ‘Yes’. A cross-functional team is looking for volunteers. ‘Yes’. For a period of time, this strategy works. Saying yes allows you to […]
Tag: opportunity cost
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Mankiw’s 10 Principles of Economics
Economics is about decision making in situations of scarcity ECONOMICS is the study of how individuals, firms and government make decisions to manage scarce resources. What does this mean exactly? Professor Greg Mankiw teaches economics at Harvard University and is the author of a popular economics text book called Principles of Economics which is used at many Ivy League […]
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NPV: Net Present Value
The NPV of an investment is the present value of the series of cash flows generated by the investment minus the cost of the initial investment 1. Net Present Value (NPV) explained THE net present value (NPV) of an investment is the present value of the series of cash flows generated by the investment minus the […]
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Cost Benefit Analysis
The cost benefit analysis is a basic analysis framework that involves weighing up the costs and benefits of one course of action against another IN YOUR consulting case interview you will most likely be required to make a recommendation on a hypothetical business problem. Understanding how to […]