What businesses don’t count could cost them profits
Cost-benefit analysis can reveal value that never appears on an invoice
WHAT is clean air worth to a restaurant? Diners do not pay for it separately. Yet, when smoke fills the air, the answer becomes painfully clear.
At one Collyer Quay restaurant, business reportedly fell by 70 per cent amid the haze that affected Singapore in October. Between Oct 5 and 11, poor visibility forced 16 flights to divert from Seletar Airport.
Businesses that had not produced the smoke nevertheless suffered the consequences.
