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Know the 6 Steps in Cost/Benefit Analysis

First Friday Book Synopsis

To sign up for a free subscription to any/all HBR newsletters, please click here. We all know we should make an investment when the benefits outweigh the costs, but few people understand what really goes into the analysis. Here is another valuable Management Tip of the Day from Harvard Business Review.

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Trust is a common factor in the cost-benefits analysis, compliance with authority, or loyalty to leaders hypotheses. Although most people do not have the personal magnetism of an Oussama Bin-Laden or a Martin Luther King, there is a subset of people who can engender a strong sense of loyalty in others.