One of the key principles of money is ‘opportunity cost.’ It means that when I buy something, I have to give up something else in return. We think we buy because we need something, but we often forget that we could buy something else instead. We rarely consider ‘opportunity cost’ when making a purchase. We do not compare other values against our needs. Buying something means giving up something else, but we often don’t realize it. When we spend money, we should also consider the ‘opportunity cost’; yet, in reality, we aren’t trained to do so. By making a purchase, we bypass the value comparison that may not offer any additional benefits. Maybe it’s because we lack knowledge, or perhaps the idea isn’t appealing. - Joseph’s “just my thoughts”
Power is often granted rather than generated. In other words, it derives from the consensual approval of others . The dilemma lies in whether to use the power conferred to the organization. If power is not utilized when it should be, it leads to neglect and a breach of trust . Conversely, if it is used when it should not be, it constitutes interference and violence. So, how do we distinguish between these situations? It should be exercised decisively when disagreements need resolution, when injustice or crime is anticipated or has occurred, or when harm is expected to be, or has been, inflicted on someone. In these instances, the use of power must be accompanied by accountability . Power should be deployed only if no one else is accountable for the choices and decisions made. Otherwise, it is better left to the organization’s discretion. Consequently, power, leadership , and benefits are healthy only when proportional to the level of responsibility . - Joseph’s “just my thoughts”