The Cost of Doing Nothing

by Michael Lippig IDCON

The cost of maintaining the status quo is enormous. The status quo affects each and every one of us every hour of every day, at work and at home. We have come to accept doing nothing as a safe and acceptable alternative. We even make it the default solution.

Doing nothing is the management equivalent of a baby’s soother. It makes us feel safe and comfortable. But there is a cost to doing nothing. Economists and accountants frequently refer it as “opportunity cost;” what you could do yourself with your resources if you were not doing what you are doing right now. In this article, we will examine this concept, provide common applications, look at why and where the cost of doing nothing is most commonly concealed, and finally, what we can do to change. Continue reading →