Nominal Value is the price assigned to an item, such as a book priced at $15.50. Real Value is the adjusted price, considering factors like inflation and depreciation, so the used price of the book reflects this Real Value. Intrinsic Value refers to the worth of the book’s content, which can far exceed its Nominal or Real Value depending on the reader’s ability to understand and apply it. Merchants profit from the gap between Nominal and Real Values, while wise individuals gain by recognizing and utilizing Intrinsic Value. Recognizing and leveraging these values is essential for building wealth. - Joseph’s “just my thoughts”
The Japan Airlines that no one thought would ever recover. It was the biggest corporate bankruptcy in Japan. When Kyocera Group Chairman Emeritus Kazuo Inamori took the helm to save Japan Airlines, his priority was to reform the mindset of the employees. Whenever he could, he gathered all employees for lectures on mental reform, and executives were required to attend a separate lecture on mental reform given by Kazuo Inamori every Thursday without exception. The employees' frustration was palpable, but the company returned to the stock market after two years and eight months. There is no magic in running a company. Attitude and mindset are everything. - Joseph's "just my thoughts"