Choice Costs: Every decision has a cost. Giving up is also a choice, and therefore, it carries a cost as well. The purpose of spending money is to gain the efficiency or benefit of a chosen option. Organizations can be at risk if leaders fail to correlate costs and benefits when making decisions or relinquishing opportunities. For example, if a CEO decides to hire an employee, there is a cost associated with wages, and if the employee cannot perform their role corresponding to the wage, the organization suffers a loss. Ultimately, if the CEO fires that employee, the organization must find a replacement, incurring additional costs in the process. A CEO who spends excessively on emotional indulgences is a harmful leader. - Joseph’s “just my thoughts”
In the Old Testament, the book of Exodus, verse 8:9, depicts a scene where God promises Moses that Israel will escape from Egypt and be led to Canaan, the Promised Land. This is described as “a land where the rocks are iron and you can dig copper out of the hills.” This event took place during the Bronze Age civilization, but God mentions the resources that exist in the Promised Land, highlighting the transition from the Bronze Age to the Iron Age. Indeed, after migrating to Canaan, Israel established a copper mine to extract copper. The advancements in civilization and technology during this period hold significant historical importance for humanity. We are currently living in one of those transformative times. - Joseph’s “just my thoughts”