Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen.

Managing and reducing cost continues to be one of the primary focal points of business and governments today. In many organizations, more than half of the total revenue is spent on goods and services ...

One reason that safety initiatives can struggle to achieve sufficient support is that those of us responsible for safety in our organizations haven’t consistently conveyed the total injury costs to ...