Acting fast is crucial – It can be painful to admit when we’ve made a bad decision. Maybe you hired the wrong person, or took a job that wasn’t a good fit, or launched a new product line that no one seems to want. It’s human nature to be optimistic and assume that success is just around the corner. Eventually, as the ominous evidence mounts, you may start to doubt your idea. But it can feel overwhelming to admit the mistake in front of your colleagues and professional network. Here’s what to do when you’re starting to realize you’ve made a bad decision !
Fouad Bendris’s insight:
Unfortunately, making bad decisions is a part of life: no one has a 100% success rate. Even so, it’s challenging to admit our mistakes, in a culture that still often hides them. But when you do, and you work to remedy them quickly and honestly, it can mitigate the initial problem and earn the lasting respect of your peers …
Source:: Strategy & Governance