Cost-Effective and Cheap: Not the Same Thing

Okay, class… do we all know the difference between cost-effective and inexpensive? Because they are not necessarily synonymous.

Often, a cheap alternative can be far more costly in the long run than making a cost-effective, but more expensive, investment.

Alternatively, it’s often a seemingly “costly” investment that ends up being vastly more cost-effective (read “cheaper”) because it instills greater value and ROI.

Remember that–it’s a very important distinction.

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This entry was written by Danielle Keister, posted on January 22, 2007 at 10:20 am, filed under Business Savvy. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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I'm a straight-shooter, but I don't mince words. Don't be afraid to do likewise, but don't bother if you are thin-skinned. I only play with grown-ups and those who want to talk smart business. (If you want a pic to show with your comments, get a gravatar.)

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