You may have heard it said that, in life, you only get out what you put in. It is a nice thought but, if this were strictly true, it would be completely impossible for businesses to operate! After all, businesses only exist in order to make profit, and profit depends on getting out more than [...]

Game theory is used to by mathematicians to calculate the best course of action to take in various strategic situations. At its most complex game theory can be used, not only by businesses and economists, but also social scientists, psychologists, philosophers and biologists. At its simplest, it’s something we can all make use of in [...]

Opportunity costs apply to every single financial decision we ever make, yet very few of us understand the concept well enough to make the most of our cash. However, as always, some valuable lessons can be gleaned from a look at the way big businesses operate. What is an ‘Opportunity Cost’ Very simply, an ‘opportunity [...]