Big questions in business tend to focus on decision making and strategy. When answering them well, a key concept is opportunity cost. Many exam answers mention this, but few analyse the implications.
On 8 June 2015 Apple launched a new digital music service — Apple Music. It was the logical consequence of the $3 billion the company spent in 2014 to buy Beats Music — the streaming service founded by Dr Dre and Jimmy Iovine. The business logic was that services such as Spotify were starting to make a dent in the revenues generated by Apple’s hugely successful iTunes Store. Apple Music was intended to stop people defecting to other streaming services.
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