In Chapter 2 of the Maital reading, Executive Economics: Ten essential tools for managersafforded a tangible perception of two concepts that can damage a business in terms of time and money.Time and money being a huge aspect in the business community which oftentimes is overlookedplaguing maximized profits and being the most costly if wise and expedient decisions are not made forso many “smart individuals” who have been tasked with responsibilities of handling capital of theinvestor’s in these key roles. These binary notions revolve around properly usage of tools concentratedaround economic planning for opportunity costs and sunk costs.And the fact that businesses do nothave their accounting teams tracking these costs on their balance sheets, they do not show up asinsufficiencies or minor details which go unnoticed until a significant shortfall glares shareholders andbusiness owners in the face demanding explanations.
