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Just my thoughts #0571

A ‘transaction’ is an act of debt between parties. The seller owes goods to the buyer (performance debt), and the buyer owes money to the seller (monetary debt). A transaction is considered complete when the debt is settled and the promise to owe each other is called a ‘contract.’ Thus, a good trader or businessman excels at making and repaying debts. When it comes to debt, the type of debt matters. Anyone who misjudges this should not engage in business. - Joseph’s “just my thoughts”
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Just my thoughts #0377

The ‘halo effect’ refers to the error of evaluating a person based solely on one strength. This mistake arises from our human tendency to see only what we want to see and to know only what we wish to know. People often regret choosing a smart but uncommitted individual once they realize they were attracted to that person’s intelligence after bringing them onto the team, ultimately leading to the wrong choice. This is an easy mistake to make, especially when the chosen person’s ability is particularly remarkable. When erroneous human resource decisions occur, businesses can fail.


- Joseph’s “just my thoughts”




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