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davepamn | February 17, 2009 03:43 AM | in Money

Do you feel like your moving as fast as you should in business?

"Control your destiny", Jack Welch said,"My biggest mistake by far was not moving faster", "human nature holds you back", "it costs you competitiveness", "your afraid you break the institution", and "in retrospect I was too cautious and too timid". Do you agree with Jack Welch?

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BEST ANSWER chosen by asker | bbrookin | February 17, 2009 05:19 AM

In general, yes. I think there's a danger to knowing the risks - and wanting to know all possible risks - before taking action. There's a point of diminishing returns. Unfortunately, there are no billboards posted at that point to warn us!

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davepamn | February 18, 2009 12:52 AM

Do agree with Jack Welch point about competitiveness that Human nature holds back competitiveness? Does emotion keep CEOs from making big moves to improve their business line?

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bbrookin | February 18, 2009 03:06 AM

Without studying Mr. Welch, I'd have to agree. As individuals, we weigh what we have learned from our life experience - failures and successes - and apply that knowledge in decision making. How many people do you know that still are kicking themselves because they didn't sell their house at the top of the market, or got rid of a stock that plunged? I'm not sure if the resulting self-doubt is an emotion, but reminding ourselves of our failures can hinder good decision making.
Logic would infer that the greater the responsibility, the greater the reluctance to screw up. It's also public, so there's an exposure element.
There's sort of a contrast-and-compare in the concept of group think, where groups of people agree to do things that none of them might do individually. A lynch mob is an extreme example.

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