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Newsletter

Volume 1, Issue 6

June 2012


Blue Ridge Conference


“Leaders learn from the past but do not dwell on the past."

- Dr. John Jahera

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October 10 - 12, 2012

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THE VIEW FROM THE MOUNTAIN

"Many decisions, once made, cannot be changed or "undone" so in that sense, they are like sunk costs. Leaders learn from the past but do not dwell on the past."

In the world of business, a sunk cost refers to some cost that was incurred at some point in time in the past and that cannot be changed. In other words, no decision made today can recover that money or change that original decision. So in the world of finance, a sunk cost is no longer relevant. Despite this, we many times hear statements such as “We cannot afford to stop now since we have already spent millions on this project!” Well, to put it in old fashioned terms, we do not always need to throw good money after bad.

The same thoughts are part of leadership. All leaders make mistakes but hopefully learn from them. Many decisions, once made, cannot be changed or “undone” so in that sense, they are like sunk costs. Leaders learn from the past but do not dwell on the past. Too often we do not let the past go in our minds and we worry too much about things that cannot be changed. Productive people learn from the past but focus on the future. The importance of vision and direction cannot be overstated for leaders as well as followers in any organization.

 

John Jahera, PhD

A few reminders:

  1. Visit www.blueridgeleadership.com to download the 2012 Conference Brochure and see the latest commercial!

  2. Registration is Now Open! Join us for the 2012 Leadership Essentials Conference on October 10 - 12, 2012.
  3. Please like us on Facebook at: www.facebook.com/BlueRidgeLeadership

 

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