Lee Iacocca - "Even a correct decision is wrong when it was taken too late."

About this episode

This episode discusses Lee Iacocca's quote on the importance of timely decision-making in leadership.

Welcome to the Daily Quote , I'm Andrew McGivern and this episode is brought to you by the Great News podcast . Today's quote comes from , the man who created the Ford Mustang, who was famously fired by Henry Ford II after 32 years with the company, and who then walked into a bankrupt Chrysler and turned it into one of the greatest corporate comebacks in American history. A man who built his entire career on the power of decisive action under impossible pressure. He said: "Even a correct decision is wrong when it was taken too late." Most of us were raised on the idea that the goal of decision-making is to get it right. Gather the information. Weigh the options. Consider every angle. Wait until you're sure. And then, only then, decide. Iacocca spent a lifetime showing why that instinct, taken too far, is its own kind of failure. He had a way of illustrating it that I love. He used to talk about duck hunting. You can aim at a duck and get it in your sights, but the duck is always moving. In order to hit the duck, you have to move your gun. But a committee faced with a major decision can't always move as quickly as the events it's trying to respond to. By the time the…

People in this episode

Host: Andrew McGivern

Topics covered

• decision-making
• leadership
• corporate comebacks
• motivation
• timeliness

Keywords

• Lee Iacocca
• decision-making
• timeliness
• leadership
• motivation

Sponsors

Great News podcast

Mentioned in this episode

Organizations: Ford, Chrysler

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