Friday, October 5, 2018

Run to the challenge


In the last posting, it was about heavy tails .... if it doesn't happen about now it grows less likely it will happen at all.

But, what if it does happen, all good management to the contrary? It could, you know.
 
Manage the consequences
  • As part of the management group you have to "run to the challenge", sort of a first-responder paradigm, but with much less bodily risk.
  • Gather yourself and assemble the pieces. Now what? You need the go-forward version of Plan B
    (Plan A is always "do nothing", just accept the circumstances) 
 Fight, fight, fight
  • Here's a thought: you might have to shift into the "fight mode", more aggressively managing consequences than you did the lead-up to the present circumstances.
Sunk cost
  • Whatever you "paid" so far, it's sunk and not retrievable -- unless insured. 
  • The cost of getting to the present situation should have no bearing on the cost and practicality of Plan B, or whether or not Plan B is even warranted. 
  • In other words, the cost of the fight should be valued only by the possible value of what could be obtained, not what has been sunk.
Cheer up! It could get better 😃




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