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”
The most difficult clients to consult are those who are simultaneously greedy and fearful. They don't take action because they strongly believe in their ideas, but on the other hand, they are overwhelmed by fear and don't trust the consultant's advice. It's a very exhausting life. - Joseph’s “just my thoughts”