Big bang for the buck
Refers to the high value or return on investment (ROI) that can be achieved relative to the cost or effort expended. It is a measure of efficiency and effectiveness that businesses use to prioritize their resources and investments. Organizations that achieve big bang for the buck are able to maximize their outcomes while minimizing their costs, resulting in better financial performance and a competitive advantage. This concept is applicable in various areas of business, such as marketing, product development, and operations.
A big bang for the buck in business coaching is focusing on the development of high-potential employees who are likely to make significant contributions to the organization in the future. Coaching these individuals can lead to increased retention, improved performance, and greater organizational success. This approach requires fewer resources and can have a greater impact than coaching large numbers of employees who may not have as much potential or impact on the business. By investing in high-potential employees, businesses can achieve a big bang for the buck in terms of talent development and business results.
Big bang for the buck DEFINITION:
Big bang for the buck QUOTE:
1."Finding big bang for the buck is like a game of hide and seek, except the prize is money instead of a friend." 2."Big bang for the buck is like hitting a bullseye with a penny - small cost, huge reward!"