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Just my thoughts #0809

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”
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Just my thoughts #0189

McDonald’s main menu featured barbecue, and the hamburger was one of 27 items. McDonald’s provided a system for customers to order directly, pick up a hamburger after a while, and serve the food on a plate rather than in a wrapper. When they faced stagnant business, they looked back at the cause and found that 80% of sales came from hamburgers, French fries, and beverages. It took a long time to reduce the menu and switch from plates to wrappers. The past holds back the present and the future. Poor success also involves the burdens of the past.


- Joseph’s “just my thoughts”




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Just my thoughts #0039

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