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As is often said about [i]Remember Skype?.

    • relating to traditional norms of taste, elegance, style, or manners
      cautious or discreet
    • favoring existing conditions, and institutions, or restoring traditional ones
    • tending to emphasize the importance of preserving traditional cultural and religious values, and to oppose sudden change
    • tending to emphasize the importance of personal responsibility

 

Urgent

If the toilet is broken or the building is on fire, we say to ourselves, “humm, this is urgent”. There is obviously no time to consider the P&L. We immediately call for help and pay the price, no matter what.

Critical

If the carpet in the lobby is worn, customers’ perception of the business is impacted, making it a “critical” problem, but not an “urgent” one. We can afford to take the time to think about whether to make the investment this week or next year or maybe we need to get the roof fixed instead. We look at all the possibilities, first and foremost, with the P&L in hand.

Important

Often, it’s hard to weigh the importance of those things that we “need” to do, and the things that we “want” to do.[ii]There is that pesky P&L again., and that can be a good time to put the problem in this category with a temporary label that says, “let’s rethink this one from time to time because perhaps it ain’t broke”.

REAL-LIFE EXAMPLES TO FOLLOW IN THEIR OWN TIME
(Examples offered by readers are always appreciated and published here.)

 

 

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By: Jim
Written: December 25, 2023
Published: December 26, 2023
Revised: 

 

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footnotes
footnotes
↑i Remember Skype?
↑ii There is that pesky P&L again.