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”
Capability belongs to the individual, while ability extends beyond the individual level, as it is essential for setting goals and achieving performance. This implies that one cannot accomplish results alone. To achieve results, there are factors that transcend the individual and are significantly influenced by kairos, situations, and relationships. No single person can control all of these elements. Kairos refers to divine timing, while situations arise from abilities and relationships, which persist as an authority. The effectiveness of a position is termed power, and Max Weber defined it as “the power to carry out one’s will regardless of the will of others.” - Joseph’s “just my thoughts”