Weighing the Costs
There's so much debates and argument whether everyone should go down into the nitty-gritty of weighing the COSTs versus BENEFITs before making a decision. Some would argue why turn simple situations into complex ones ? A cost-benefit analysis is the process of comparing the projected or estimated costs and benefits [or opportunities] associated with a decision to determine whether it makes sense from a person's perspective.Bottom-line is, every decision that needs to be made must be an INFORMED DECISION. Otherwise, any decision not referencing relevant information will not be an INFORMED DECISION. What happens then if we do not end up with an INFORMED DECISION ? The likely outcomes and consequences are as follows: The decision you made is either NOT the best decision you could have made or worse, you could have made a wrong decision. To UNDO or not is another discussion.If you have ever made a big personal purchase, chances are you conducted an informal cost-benefit analysis. Whether you're committing to a personal purchase, making a decision or assessing an option, you will likely use some sort of analysis to weigh the estimated costs and benefits of your choice. Cost-benefit analysis is a key way to determine the value of a decision. UNDERSTANDING the VALUE of an upcoming decision should always be a top of the totem pole. Always remember in weighing values, there's FINANCIAL values, EMOTIONAL value, SOCIAL value, INTELLECTUAL value, you name it. You need to consider all of them. Whatever it takes, always WEIGHT the COSTS before you reach for a decision❗❗❗No one size fits all. That explains why we're here, to share my 2-cents where it's worth it.
Showing posts with label Weighing the Costs. Show all posts
Showing posts with label Weighing the Costs. Show all posts
Wednesday, November 17, 2021
Subscribe to:
Posts (Atom)
Straight from my thought processes...
One Day It's Too Late
YES YES YES yow, life is too short to live in anticipation of tomorrow. SO HOW ? We must learn to embrace the urgency of NOW , to seize th...

Sharing the most popular posts till to date
-
Cooler, Closer and Cleaner. Which one is YOU ? Knock-knock who's there ? COOLER, CLOSER or CLEANER ? Taking a leaf from the book of ...
-
Be Warned About PARADOXES In Life Not to create an unnecessary scare BUT one fact we tend t overlook is that throughout our lifetime, there ...
-
If You Are in the Building, ARE YOU THERE? Of course, you were at work when at work. Of course, you were home after work. Of course, you w...
-
Keeping Up With The Kardashians [Not the TV Series] No Senor, today's piece Keeping Up With The Kardashians is not about that very succ...
-
Stop Taking Things PERSONALLY When people disrespect you OR do not treat you well, it is indeed that easy to take their behavior PERSONALLY ...
-
WHY Texting Is NOT The Best Communications? WHY Texting Is NOT The Best Communications? If there's one noise I've been very vocifer...
-
Haste Makes Waste, REALLY ? Haste Makes Waste, REALLY ? Hoping that this won't be a hard sell, let me mention a research study from Van...
-
Who Says Progressing Is NOT Good? Many of us [and that includes me [sometime in my past]] have this misconceptual thing with regard PROGRESS...
-
Persian Sufi Poet Rumi has been widely quoted many times: WHAT YOU SEEK IS SEEKING YOU. I believe this is stating the obvious BUT WHAT m...
-
Rain Falls Harder On A Leaky Roof Rain Falls Harder On A Leaky Roof, that's a common expression in Japan. Simply put, this Japanese pro...