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Analyzing Business Decisions Using Cost-Effective Perspective - Literature review Example

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The purpose of the review "Analyzing Business Decisions Using Cost-Effective Perspective" is to discuss the application of financial resources analysis program named a cost-effective perspective. Furthermore, the writer will discuss the aspects of its implementation among organizations…
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Analyzing Business Decisions Using Cost-Effective Perspective
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A cost-benefit perspective is an economic situation that involves analyzing business decisions. The benefits of the activity related action are collected and the cost that is involved with it is subtracted. Mostly this analysis puts great emphasis on monetary value unlike cost-effective analysis (Brent, 2003).
The outcomes of this program are based on both a cost-effective perspective and a cost-benefit perspective. Under the cost-effective perspective ,the aim of the program is to sensitize those that are trying to battle with alcohol or drug abuse and those who are fearing or do not want to deal with this problem in their lives, under this program the organization does not intend to benefit from the program either directly or indirectly but rather it aims to change the lives of those who are affected by this problem, by investing its financial resources in various programs that are geared towards assisting the affected people. The outcomes of the financial investments in the programs are usually measured against the responses and the effectiveness of the programs i.e. the ratio of change against its effects in the programs. Also, the aim of this organization is to evaluate the impact of the awareness against what they have invested in the awareness and the result that is obtained may be used to help or benefit other organizations or communities(Brent, 2003 ) at the button on their website (get help now) assists them to measure the response against the investment in the program hence though this ,the organization is able to tell how people are responding to their campaigns and the statistics may be used for future reference (Levin, & McEwan, 2000). This program has been able to help most military men and women who are coming out of their work to be able to adjust to the outside life and not to turn to drug and alcohol abuse as their consolation. Some of the services offered to the military by the organization include; guidance and counseling where the programs aim is to advice those living the military on how to accept the outside world away from the military duties, and educate them on the challenges they may face in connection with turning to drug and alcohol abuse ,they also offer them financial advice so as to be able to understand how to utilize their savings and benefits and not direct them into alcohol and drug abuse(Levin, & McEwan, 2000). The program has also been able to reach many students and the community and educate them on the risks involved with drug and alcohol abuse. In general, the program has used a cost-effective perspective to measure the ratio of change against the expected result but no emphasis on financial gains
Under the cost-benefit perspective, the program aims to change the community and help those who are abusing drugs and alcohol to manage their finances in other effective economic activities rather than drugs and alcohol. Under this perspective, the organization is looking at the financial; resources that are being wasted by many drug and alcohol addicts as resources that could help their families and end their family's financial sufferings (Levin & McEwan, 2000). The organization is looking at the activities and profits that the money could have earned the individual and their families if it was never diverted to drug and drug abuse (Brent, 2003). In general, under a cost-benefit perspective, the organization is placing more emphasis on monetary matters of the addicts and the benefits to their families
A cost-effective perspective has been used to gauge the difference in change and response against the expected result.while cost-benefit analysis has been used to gauge the impact of change against the proper use of resources by the addict i.e. the financial gains that come with changing from drug and alcohol abuse. Read More
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