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”
For a business to succeed, kairos, situations, and relationships are all essential. Kairos is an aspect beyond human control, often described as ‘luck.’ It exists within a realm ruled by coincidence and timing. Situation pertains to the interests of the land, encompassing all resources except human resources. Relationships represent human resources that I can cultivate through human unity. Among these three elements, there is a saying that kairos accounts for 70% of success, leaving 30% to other factors. This underscores why we should avoid boasting about our abilities, even in the face of our achievements. - Joseph’s “just my thoughts”