Opportunity cost is the loss of potential gain from different choices than the one chosen. It is
usually used to help make the best decision that would be most beneficial from various options. After
my undergraduate in Accounting and Commerce, I received a job offer from an auditing company called
Deloitte to join them as an audit assistant. At this point, I had two choices that were most appealing to
me; the first was to join the company and learn auditing work as they would train me, not to mention I
would receive a salary. The second option was to continue my education and do a master's level course
and attain a higher level of educational qualification. I had to analyze the advantages of each of these
decisions, a Master's degree would help me have a higher level of education, and I would be more
employable and have a better future for my career.
A job would be a really good experience for a work environment, and having a good salary
would enable me to help my family financially, especially to help my brother with his education fees.
This is where I used responsible stewardship to make the decision, and I chose to take the job offer for
now and consider it a gift to help my family in their time of need. I worked as an external auditor in the
company for four years before finally deciding to continue my education, which brings us to this MBA
class. My opportunity cost in this situation would be the higher education of having a master's degree to
fast-track my career. At the time, this felt like the right decision for both my family and me.