Let’s say you have two options. If you press the blue button, you will receive 1 million USD, and if you press the red button, you will receive 10 million USD, but the probability of winning is 50%. Which button would you press? If pressing the blue button is business, pressing the red button is gambling. In other words, depending on your attitude toward the relationship between risk and reward, we can determine whether we are suitable as managers. But if you press the red button with a 50% chance of winning and you don’t win, and you have to pay a fine of 1 million USD, would you still press the red button? The relationship between risk and reward influences people’s behavior. Business is about creating a structure that is advantageous to me, and building a system in which the structure continues to benefit me is called management. - Joseph’s “just my thoughts”
It also means that if I have been fortunate in the way I have lived up to now, misfortune may come one day. Management involves looking at both sides of this coin. When business conditions are good, we need to prepare for tough times, and when business conditions are bad, we need to prepare for better times. If you have experienced misfortunes so far, you should hope that the opposite can also occur. Nothing lasts forever. The universe also changes from time to time, and we must abandon the notion that the society we live in will remain the same. Management is the act of converting uncertainty into certainty. - Joseph’s “just my thoughts”