The Economics Behind... Delegating Tasks/Responsibility? Delegation Explained in One Minute
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- Опубликовано: 18 сен 2024
- As tempting as it may be to act as if all problems can be fixed as a one man operation... let's just say task and responsibility delegation is the (economically) rational thing to do.
As such, the economics behind delegating has been explained through this video.
While delegating tasks and/or responsibilities may seem second nature to you, I assure you it is not the case for everyone... not by a long shot.
Due to reasons such as our desire to save money, we end up deciding against task or responsibility delegation and think we can get away with handling everything ourselves.
What usually results is an epic waste of time or, as the example used in this video makes clear, you spending two working days working on something an expert could have easily finished in one hour.
Make no mistake, time is money and by delegating responsibility properly, you're ultimately doing the right thing from an economic perspective.
Don't get me wrong... if you like the idea of let's say fixing your laptop yourself, then by all means, feel free to decide against delegating that task... just don't delude yourself into thinking it's the economically optimal thing to do :)
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This is a silly argument for 2 reasons: 1) you learned a valuable skill about fixing your laptop for the rest of your life which will save much more over the long run than taking it to a pro every time, and 2) computer fix-it pros are notoriously bad at solving the actual problem: they will upsell you new services, needlessly tell you to buy new software which costs more, and are extremely overpriced for what they actually do.
Hahaha your argument is even more ridiculous.
But hey, people believe whatever helps them sleep at night.
Because it is impossible to research cheap affordable repair shops in your locality online with reviews..
The problem is this DW: the day only has so many hours, you as a person only have so much time/energy to spare and there are gazillions of skills to learn, most of which you'll use on a one-off basis and that's it. At the end of the day, anyone can decide in favor of the DIY modus operandi if they enjoy the process or if it stimulates their intellectual curiosity. It's ultimately a personal choice. This video has one purpose and one purpose only: making it clear that doing so would be sub-optimal from an economic perspective :)
In theory it makes sense, but I feel like in practice u can't really estimate how long it'll take to fix the laptop when you are making the decision to fix it on your own or ask for help.
@Fuert Neigt yeah but even in practice, in most decisions, you don't have all the information to make the right decisions including how long its really gonna take to complete the task.
As Fuert Neigt mentioned, it is indeed a generalization, with the main goal of making it clear that in most cases (not all but the overwhelming majority), letting someone who does a certain task for a living take over rather than time-consumingly acquiring a new skill you will probably never put to good use again (and even if you do, it will be a very rare occurence) is the optimal approach from an economic perspective :)
Opportunity cost of lost earnings vs. repair costs. Excellent concept to highlight. How many people know off the top of their head, what an hour of their time is actually worth?
I've actually published a video about just that (opportunity costs specifically) two years ago:
ruclips.net/video/TNxg1auV2AM/видео.html
Great Video again
Thanks a bunch Timbone!
@@OneMinuteEconomics Typo fixed lol. I am considering making 1 minute videos but for pop culture. Your channel was just what the doctor ordered. I get to study a similar channel in real time from the channel beginning. Thanks a lot
The people that I know that get their computer fixed, spends about $200 plus or the store will tell you to buy a new computer.
:P
but you still have the risk of scam by the repairer messing up the gadget and make fight with you
Based on personal experience, the risk of me screwing up royally greatly outweighs the risk of getting scammed by the service provider :D
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