b'A streamlined tablet-based maintenance system COMPARISON OF DISCOUNTED CASH will give you peace of mind and prevent that big ticket equipment failure. Business boils down FLOW ASSUMPTIONS OVER 40 YEARS tomakingmanyincrementalimprovements that compound richly: make technology work 1980s2020sfor you.WHAT ABOUT Debt interest rates12%4% CLIMATE CHANGE?Thenumbersbanteredaboutbythenew Equity target return 25% 12% administrationarestaggering.Butsome consider a trillion dollars to be one tenth of Debt/equity ratio2:14:1 the necessary down payment. Clearly, aspects of our economy are transforming in response Weighted averagetoclimatechange,asseenbylegacyauto cost of capital (WACC)16.3%5.6% manufacturersmigratingtoelectricvehicles. The California Air Resources Board mandates (The discount rate is the WACC, or the mix between debt and equitynancing) eye-poppingenginerepowersnotrequired elsewhere.Californiawasoftenabellwether for other trends and the changes required by regulators, or the public, will loom large in our expense of eroding your business as customersyourself,whatcangetanimmediatereturn,future. There might be subsidies or incentives, explore other alternatives. While the economistswithoutbettingthefarm?Oneuniversalbut we could collectively be in a big squeeze. rst universally acknowledge that they cant predictstrugglefordinnerboatsisgettingthatfiinfl ation, this specter is present for the fi rst timedrinkquicklyouttoguestswhenboarding.Ofcourse,thefutureisunknown.To inageneration.Withthisshadowlooming,Shouldyoufallbehind,theentirecruiseparaphrase Darwin: the survival of the species atleastwehaveatraditionaldefenseagainstsequence can be thrown offand impact guestis not the strongest or most intelligent, but the infl ation: owning assets. satisfaction.TabletorQRcodeorderingatmost adaptable. Weve proven that adaptability the table can increase service speed, customerin2020-2021.Nowletsliftourheadsand WHAT ABOUT TECHNOLOGY? satisfaction, average check, lessen crew required,pondersomebigtrends,butmostofall,be For years, new technology seemed so expensiveand yield bigger tips. Talk about a win, win, win.thankful that we are cruising again.anddauntingthatmymottowas,Illbe fi inline.Iwouldconvertonlywhenfth backedintoacorner.Butnowdatastorage andcommunicationpipelinebandwidthsare almostfreeandweseegreatproliferationof opportunitiestobetterservethecustomer and streamline our workfl ows. You might ask About the Author: BOB SHAWINDUSTRY CONSULTANTBob Shaw is a veteran industry executive, having led nearly 200 vessels responsible for more than 18 million passengers a year. He is a frequent speaker at PVA meetings. He can be reached at shawrw@gmail.com.AUGUST 2021 27 BUSINESS MATTERS'