Rejection Cost. From the perspective that my profit is someone else’s loss, and someone else’s profit is my loss, the fact that I have to reject an opportunity to make money for my circumstances is a loss for me and an act of giving someone else a profit. In other words, my added value is not determined solely by productivity but also by the marginal utility generated by the law of supply and demand. Therefore, my labor price should reflect the value that I have given up—the profit I could have gained. If the rejection cost is not included in my profit, I will be at a loss to that extent. Failing to account for rejection costs in production expenses is not wise, but foolish, because it risks my survival. There is no absolute value in this world. All economic values are relative. - Joseph’s “just my thoughts”
Tom Sawyer was punished by Aunt Polly. As part of his punishment, Tom is painting the fence of his house when his local friends come by to ask if it’s fun. When Tom tells them that it is, they ask for a chance to try it. Tom refuses, saying it’s not free, but his friends offer him toys and food, begging for permission. Tom ends up profiting while fulfilling Aunt Polly’s punishment without doing the work himself. There is a dynamic relationship in everything, and management provides a little strength wherever things can go well. If you work hard without question, you need to bring toys and food to others, but if you work wisely, you’ll achieve your goals with the help of others, gaining both toys and food along with praise. All Tom did was hold a paintbrush in front of the fence and smile. - Joseph’s “just my thoughts”