ABSTRACT
Management is all about decision-making. One way of decision-making would be to take a decision when a problem actually occurs. There is a phrase in English: “Don’t cross the bridge until you come to it.” Is this necessarily a smart management strategy? Before jumping to an answer, let us distinguish between two types of contingencies: unforeseen and foreseen. Natural calamities like floods, hurricanes, fire, and epidemics are mostly unforeseen. Who could have foreseen the global economic disaster that Covid-19 pandemic brought with it? In this class of situations, it makes sense to adopt: “I’ll cross the bridge when I come to it.”
