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Do Nothing Option

Why is "do nothing" an important option to consider? What are some of the problems associated with choosing a "do nothing" option?

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When considering all the possible solutions to a given business problem, the 'do-nothing' solution is sometimes the most valid. Usually, there are several potential proactive solutions that lead to results that are, perhaps, more detrimental to a firm than good. In these circumstances, a do-nothing approach should be considered as a viable option.

For example, consider a retailer who calls on account XYZ in an industry that is extremely hands on. That is to say, retailers in this industry must give constant tech support to most accounts. The industry is high competition, but XYZ pays their bill a bit slowly (typically in 60 days while the industry ...

Solution Summary

The essay describes the importance of considering the 'do nothing' option when faced with several business decisions.