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”
Action and behavior are distinct. Action is an immediate response to a situation’s demands, while behavior is a voluntary response driven by will and intention . So, which one is more important? Both are essential. There is a time to act and a time to behave. The best approach is for your behavior to follow what you started with action. Immediate action is necessary to achieve results, and behavior is needed to put your will into action with a specific purpose or goal . A person who acts easily is practical, while a person who prefers behavior is strategic. But if you don’t act, nothing happens. The world we live in gains meaning after its occurrence and its consequences. - Joseph’s “just my thoughts”