An article in the WSJ discussed the negotiations which are currently going on between dockworkers unions and several east coast and gulf ports. Apparently, an agreement is near, but the effect on retailers who import the goods we see in stores has been dramatic.
Not knowing whether there would be a strike in JANUARY, they rerouted to west coast ports and air in OCTOBER. At first, I couldn’t imagine having to make such a costly decision based on not knowing what would happen in 4 months.
And then I realized, I do it all the time. We don’t know how flight prices will change for Mark to visit Frankfurt, Shanghai and Sydney mid-year, but we’ve already making those decisions. I didn’t know how the fiscal cliff will affect the economy, but that didn’t stop me setting targets for Career Tools for 2013.
Sometimes, you just have to admit there is uncertainty, and make a decision with the knowledge you have now. You could be right, and you could be wrong, but not making a decision at all is almost always more costly than making one.