Traditional education taught that human economic development progressed from hunting to stock farming and then to agriculture. However, the only real difference is that stock farming is an economic method of obtaining food by domesticating livestock, while agriculture involves domesticating plants. Therefore, this three-stage development theory is no longer accepted. Instead, the development of human civilization can be seen in the evolution of transportation. To understand the nature of how the world changes, we should observe the development of transportation. The increasing speed of movement is the main evidence that society is changing rapidly. - 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”