In the atmosphere of looking back at 2024 and looking forward to 2025 and possibly beyond, let's consider the following factors: "decision" from the following perspective:

“Not simply what we decide, but also what we do not decide, is equally important and has real consequences.”

This may be a grand statement, but it goes deep into the complexity of decision-making and the impact of the choices we make as business owners/leaders and entrepreneurs alike. Below is some analysis of why both the decisions we make and the decisions we don't make can be just as important.

Opportunity cost

Every decision we make has an associated opportunity cost. This means that by choosing one path, we give up other potential paths and their unknown outcomes. For example, choosing to pursue product distribution that depends too much on a particular e-commerce platform or social media network may mean giving up the opportunity to diversify distribution channels or facing the risk of supply chain disruption.

The recklessness of inaction

Not taking action, or choosing to do nothing, is still essentially a decision. It can have consequences as serious as actively making choices. For example, not integrating and complying with environmental - social - governance (ESG) factors into your business operations can lead to regret and missed opportunities for growth and competitive advantage right in the near future.

Ripple effect

Both making decisions and doing nothing create a ripple effect that affects not only ourselves but also those around us and possibly even future generations. For example, choosing to use public transportation instead of driving can have a positive impact on the environment, while ignoring the negative impact of climate change in Vietnam can have devastating consequences for society, community, family and future generations.

Regrets and Reactions

We often think more about paths not taken, the “what ifs” and “what could have been” questions. This reaction can be a powerful tool for learning, looking back, and continuing to grow, but it can also lead to regret if not managed constructively. For example, looking back and not seizing the opportunity to take advantage of social networks for promotion and marketing can motivate us to grasp the trend of applying artificial intelligence in management in the future, or this mistake can make us paralyzed by regret with a series of missed opportunities.

Personal responsibility

Acknowledging the importance of both decision-making and inaction helps us take responsibility for our choices. Business has never been easy, but at least this reminds us that we still have autonomy and can shape our own destiny.

The meaning of the above statement is not dogmatic but actually encourages us to properly acknowledge the weight of decisions, especially in the world geopolitical context with many unknowns in 2025, economy and society in Vietnam are also undergoing changes that will shape the environment in which we live and work in the next few decades:

• Be mindful of the choices we make and the choices we ignore, deciding to do nothing.
• Consider the potential consequences of both action and inaction.
• Recognize the opportunity costs inherent in every decision.
• React on our choices, learn from them, and move forward with ease, knowing there are always unknowns.
• Ultimately, recognizing the importance of both the path taken and the path not taken allows us to be more conscious in our management and make more informed decisions in the future.

The space and atmosphere of the end of the old year and the transition to the new year are fantastic times for business owners and leaders to prepare for upcoming decisions. It is now quite easy and convenient to look up the risks that Vietnam is facing and will face in the near and far future. And it's not at all too complicated to evaluate how these risks impact your personal capabilities and business models. From there, with our own analysis and forecasts, we have a basis to comfortably make or not make a decision.