There is no easy solution for the eurozone economy, for Greece, for Ukraine, or for any of the other major challenges we face today. But unless protagonists are sure that announcements, campaign promises, and peace agreements will give rise to clear, purposeful action, they should think twice before opening their mouths.
NEW YORK – In public policy, peace talks, election campaigns, or corporate strategy, laying out intentions, promises, and commitments is never enough. It is merely a first step toward a desired end – and entirely meaningless unless the second, third, and all subsequent necessary steps are taken. Moreover, taking the first step starts the clock on others' trust and confidence that the next steps will in fact be taken, or else risks creating the false impression that the failure to achieve a particular goal reflects mistaken (or irrelevant) intentions, not inadequate execution. We can see examples of this virtually everywhere we look.
NEW YORK – In public policy, peace talks, election campaigns, or corporate strategy, laying out intentions, promises, and commitments is never enough. It is merely a first step toward a desired end – and entirely meaningless unless the second, third, and all subsequent necessary steps are taken. Moreover, taking the first step starts the clock on others' trust and confidence that the next steps will in fact be taken, or else risks creating the false impression that the failure to achieve a particular goal reflects mistaken (or irrelevant) intentions, not inadequate execution. We can see examples of this virtually everywhere we look.