Did you know that modern space rockets are influenced by Roman heritage? In other words, the size of current rockets still reflects standards set during the Roman era. Rocket components were transported by rail to launch sites and had to pass through an intermediate tunnel. It was more practical to limit the size of the rocket rather than build a new tunnel. The track width was determined by the steam locomotive, which was adapted to match the width of British wagons pulled by two horses. The width of the track is based on the hips of the two horses, which in turn are derived from the size of a Roman chariot. This phenomenon is called Path Dependency. Humans tend to stick with the past. - Joseph’s “just my thoughts”
Let’s say you have two options. If you press the blue button , you will receive 1 million USD, and if you press the red button , you will receive 10 million USD, but the probability of winning is 50%. Which button would you press? If pressing the blue button is business, pressing the red button is gambling. In other words, depending on your attitude toward the relationship between risk and reward , we can determine whether we are suitable as managers. But if you press the red button with a 50% chance of winning and you don’t win, and you have to pay a fine of 1 million USD, would you still press the red button? The relationship between risk and reward influences people’s behavior. Business is about creating a structure that is advantageous to me, and building a system in which the structure continues to benefit me is called management. - Joseph’s “just my thoughts”