Tuesday, March 11, 2014

Two Costs

Brandy, your discussion here reminds me of a saying, teaching of the late, great Peter F. Drucker, also known as the Father of Management Science.  Drucker observed, "There are always two costs.  The cost to do, and the cost not to do.  Which is greater?  Who pays?  When do they pay?  How do they pay?"  To do or not to do is the question.  When my wife and I are debating spending money, we go through the Drucker "drill."  It is really helpful.  Yes, two costs are a great guide to decision making, as you point out here with different language.  Good job!   Dr. Rux  P.S.  One of my Ph.D. professors, who was on my dissertation committee, Donald McIsaac, studied with Drucker himself when he got his Ph.D. at the Claremont Graduate School in Los Angeles, where Drucker was an adjunct!  

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