Intangible costs play a significant part in considering the implementation of new technologies and methods of controlling any organization. The examples of tangible costs do not exact manifest numbers and statistical information, and it usually shows approximate changes which might arise in the future.
Any website’s development requires increased investments that can generate better outcomes and performances by the end of the quarter or year. It is important for managers to calculate possible costs and be prepared for critical situations accurately. There could be defined four main types of expenses. Firstly, there might be growth in spending for IT managers who support the stable work of the website. People who work with internet pages spend a lot of time and resources to create a high level of performance, and they need to increase their salaries (Zawadzki, 2016). Secondly, owners have to pay monthly for the website’s positioning on the internet to make sure that every customer can access it. Thirdly, technologies should always be checked for possible issues to prevent breaking. Consequently, managers should take into consideration this type of cost. Lastly, workers should be trained to work with the latest technologies, and a significant part of the budget should be invested in training programs.
Cooperation between the owner and workers should be intensive to understand what benefits might bring changes in the performance. One of the major benefits can be an increased interest in the business and constant visiting to the website and physical store. Also, this can cause increases in the general revenue. When owners pay a lot of attention to the construction of their business, the workers feel safer and more relaxed in their working space. These benefits are the bias for stable and increasing development in the future.
Zawadzki, K. M. (2016). Public perception of intangible benefits and costs in the valuation of Mega sports events: the case of Euro 2012 in Poland. Easter European Economies, 54(5), 437-458. Web.