Knowing When to Hold and When to Fold
In life, as in poker, the importance of recognizing when to hold ’em and when to fold ’em cannot be underestimated. And in business, such decisions may be the most critical ones an executive can make. The future of the organization may hang in the balance.
Your company might have spent weeks, months or even years carefully planning the implementation of a particular strategy, but the situation for which it had been designed now appears to have changed. Were these current conditions anticipated? Is this the wrong time to implement the plan, or should we go ahead anyway, hoping for the best?
Should all that preparation, which has been fine-tuned in countless meetings and has survived a difficult approval process, be delayed, changed or even scrapped entirely? And what executive among us is willing to make the decision to abort it, knowing that his or her professional future is at stake?