Question: Write your opinion on this discussion about whether the small mistakes can lead to bigger issues. Does this explain? Relating small mistakes that lead to
Write your opinion on this discussion about whether the small mistakes can lead to bigger issues. Does this explain?
Relating small mistakes that lead to large issues to our lesson this week refers to marginal analysis. Marginal analysis is a tool that is often utilized to support profit maximization for businesses (APUS, n.d.). It is often utilized whenever there are new activities that can affect the cost or the revenue of a product that is being produced and sold. This analysis method can show how many products should be produced before costs of producing said product are higher than the revenue of selling it. Some of the changing events can be additional competition in the market, market price changes, customer taste changes, social influence, and supply costs adjustments. This analysis should be an ongoing referential tool that is used quite often to ensure that profits are continuing, and production is not the cause of profit loss (APUS, n.d.). A real-world example of a small issue that led to a much larger issue is when the Mars Climate Orbiter was destroyed by Mars atmosphere due to miscalculations (NASA, n.d.). I refer to this example because it shows how important it is to ensure that your calculations are correct as this can create a massive chain of effects. A contractor used imperial measurements while the Nasa team used metric units. This caused for miscalculations leading to the loss of a $125 million dollar probe (NASA, n.d.). Had these calculations been checked, verified, and tested. They perhaps would have caught the translation issue that had led to the crash that occurred. While this was most likely simulated, the small error would have led to showing a false simulation due to the miscalculations.
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