Alternative Selection – Total Benefit of Ownership

Description

When considering various operations to continue or new initiatives to pursue, there tends to be a singular focus on cost, revenue generation potential, or regulatory compliance necessity of the activity. However, many initiatives offer highly qualitative but no less beneficial contributions to the organization that should be considered beyond the simple financial return. In today’s marketplace, some of these qualitative benefits significantly contribute to sales such as the advancement of diversity and inclusion within the organization and green initiatives in both the organization’s production processes and products. Such qualitative benefits serve to enhance the organization’s reputation and in doing so attract superior talent and additional customers that would otherwise be lost to competing organizations. Thus, it becomes increasingly important to consider the total benefit of ownership of a give business operation or initiative; one that includes the ongoing quantitative and qualitative benefits these activities.

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