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if answer is in handwriting please make it visible Explain a situation you have observed (or...

if answer is in handwriting please make it visible




Explain a situation you have observed (or read about) in which a firm made a decision considering irrelevant costs or did not consider relevant costs. What was the outcome of the decision, and what could have been done differently?

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Answer #1

Situation have arisen where the firm after taking into account irrelevant cost and decided to let go of contract this includes one of the infrastructural company which has lost a major contract since the pricing it calculated was including irrelevant sunk cost and the company took part in the bidding process basis that only resulting the company to loose the contract. Company shoul not have taken into account the irrelevant cost including the premises charge it was already paying regardless of the contract win or lose and should have lowered the prices to win the contract as this would have been cash flow positive for the company.

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