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Just my thoughts #0806

Opportunity Cost: Making a choice means sacrificing something else at the same time because we can’t have everything. If the value of what is given up is significant, then the choice incurs a relative loss, and it is up to the CEO to recognize this as a cost. In reality, whether I am aware of the opportunity cost or not, it still impacts my current financial situation. However, to calculate profit or loss as an opportunity cost, there must be a future opportunity to forgo the current choice and select an alternative. No one should keep repeating the cycle of giving up and choosing without knowing whether the next decision will be beneficial or not. Giving up is worthwhile only when the next option is good. - Joseph’s “just my thoughts”
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Just my thoughts #0117

Management is all about maximizing productivity in a limited amount of time. There are limits to what can be achieved regarding time and productivity gains. Let me be clear: increasing efficiency to improve productivity is not a significant factor in building wealth. The best way to build wealth is to choose and implement a higher value-added job. In other words, management is a matter of choice before effort.


- Joseph’s “just my thoughts”




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Just my thoughts #0039

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