Every time we have to make a choice we are faced with an opportunity cost. Using an example in your professional life, identify a situation where you were presented with a choice, the opportunity cost of the choice you made, and the process you used to make your choice. As part of your discussion explain whether or not responsible stewardship played a role in your choice. Remember to use the appropriate economic concepts and terminology that are applicable to your answer.
A situation that I can identify where I was faced with a hard to make choice was when I realized that I was not going anywhere with my job. It was a great and well paying job but I needed something else to keep me motivated. Therefore, I decided to quit and get my MBA so that I can open other avenues that would later help me find a different profession that I was interested in. Quitting my previous job meant no money coming in on a monthly basis and getting an education meant that I would have to cash out more money. However, I knew if I stayed at my job I would eventually get fired for lack of performance and I also knew I wanted something new and challenging. The opportunity cost decision of choosing to lose money rather than gaining it was a huge. Nevertheless, sacrificing a year to get the necessary education and to rejuvenate myself was more profitable than the money that I was getting from a job that I felt was stagnant.
I believe responsible stewardship played an important role in my choice. Instead of sitting down and complaining about how I felt dissatisfied with my job, I decided to take a loss financially and to improve my skills and knowledge to get in a better position in life. I used the resources that were available to me to ensure that I was able to pursue something that would lead me to success. I had to look at my finances at that time to ensure that I was still able to support