Virtue Series 5: FRUGALITY IN LEADERSHIP
After 6months Mr. Peterson always changes the company cars. He thinks making a profit of over $6million after tax deductions in 6months, and having a stable business finance, is big enough to buy every other thing he needs and live a bit more flamboyant. Funny enough, he sells this car to some companies that uses it for a minimum of 1year and six months without having any need for a change. They save some cash by buying it cheaper, and using it longer. Who is wiser? It’s fun when business grows great enough that you experience a constant boom that enhances your financial stability. But, where lies the wisdom in spending the profits on trivial things forgetting there is such a thing as economic depression? Lack of frugality in business financial management has made many start-ups to plummet and eventually get into extinction. There is always a new tech-gadget and a new equipment in the market. But do you really NEED it? There are new and more sophisticated techniques of get...