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”
Johann Sebastian Bach had many children. To support his large family, Bach established a steady income, with occasional earnings from composing funeral music. This allowed him to secure a basic livelihood and sometimes pursue the music he was passionate about, which primarily resulted in his masterpieces. It is both desirable and important for an artist to earn a living independently. Balancing one’s livelihood as a person and as an artist holds significant religious and philosophical value. - Joseph’s “just my thoughts”