1. Perform a cost-benefit analysis. Many people who perform a cost-benefit ana- lysis on a regular basis tend to call it “shopping around.” Think of an acquisition you have been considering. For example, you may be thinking about acquiring a digital camera, a mobile device such as a tablet, or a fairly expensive gift for a friend or family member. Complete the following steps:
a. Document the goal you are trying to achieve.
b. Produceatablethatshowsallofthecosts(purchaseprice,monthlyservicefee, time to set up, and so forth) and benefits of two or more of the products you want to purchase.
c. Analyze the costs and benefits (tangible and intangible), and select a product.
d. Document the reason for your decision.