Choice Costs: Every decision has a cost. Giving up is also a choice, and therefore, it carries a cost as well. The purpose of spending money is to gain the efficiency or benefit of a chosen option. Organizations can be at risk if leaders fail to correlate costs and benefits when making decisions or relinquishing opportunities. For example, if a CEO decides to hire an employee, there is a cost associated with wages, and if the employee cannot perform their role corresponding to the wage, the organization suffers a loss. Ultimately, if the CEO fires that employee, the organization must find a replacement, incurring additional costs in the process. A CEO who spends excessively on emotional indulgences is a harmful leader. - Joseph’s “just my thoughts”
Technology Advancement and Ethics: One reason humans differ from other animals is because of ‘ethics.’ Due to this difference, we believe that human beings are unique and that ethics are relatively stable. However, the factor that alters human ethics is the development of science and technology. In 2006, Japanese scientist Shinya Yamanaka discovered that mixing four chemicals with human skin cells could create undifferentiated stem cells. These cells are pluripotent, meaning they can develop into any type of body organ. Before this discovery, it was thought that such cells could only be produced through the combination of sperm and egg, but it was later found that they could also be synthesized artificially. Human philosophies, values, and ethics are trapped within technological advances. As science and technology advance, existing ethical frameworks are increasingly challenged. Now, traditional values that have been defended by gender distinction will experience severe conflict. - Jos...