Cost benefit analysis- critical aspect

The Cost benefit analysis is done to analyze the benefits which will be derived after making an investment.The benefits of a given situation or business-related action are summed and then the costs associated with taking that action are subtracted.
It remains a debatable issue whether this technique is effective in all the situations.
Primarily, CBA takes into consideration the tangible benefits but over looks the intangible benefits the business might get in the long run like feedback.
CBA indicates the repayment or the benefit an investment may fetch to the business and it does not consider the invisible loss or profits which might change the whole analysis.
For example: At the time of a festival, bonus is given to the workers and this expense is registered in analysis but the joy and the satisfaction of the workers after receiving the bonus is not analysed and therefore it is not calculated whether the workers worked more effectively after getting bonus or vice-versa.
If connected with advertising, in my opinion CBA is not effective as there is a lot of risk involved in advertising and organization invests a lot of money in advertising themselves and their products. This also is a debatable issue whether advertising is an expense or an investment as the returns are not cent percent sure, so analysing the Cost benefit would be a little difficult in case of advertising and media.

- ALOK PAL