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Opportunity Loss: Unnoticed and Uncounted Sources of Value |
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Carl Spetzler Hannah Winter |
What size of missed opportunity would be considered as bad as losing $10 million in your company? $50 million? $100 million? In some organizations, the opportunity loss has to be more than 10:1 to have the same negative consequences as real losses in business. Missed opportunities frequently go completely unnoticed and uncounted -- yet they represent a loss in potential value that is a real as the out-of-pocket loss on a failed venture.
In this webinar, our speakers examine "errors of omission." The road you could have taken, but didn't. The investment you could have made, but dismissed without consideration. Contrast these with "errors of commission," the choices we made that turned out wrong, and resulted in real, out-of-pocket loss (often with consequences for advancement). Purely rational thinking -- what you would associate with the fictional "Star Trek" character Mr. Spock -- should lead us to consider a real loss and an opportunity loss as equal. In practice, they rarely are.