Article PDF: 5.3 Reaction Time

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Five rules describing different aspect of the role of speed in choosing actions.

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This article explains how, when choosing to pursue an opportunity, our first concern is minimizing mistakes. We don't want to endanger our current position or waste resources. It is naturally to think that the best way to minimize mistakes in exploring opportunities is t go slowly and carefully. The problem is that slow reactions are almost always extremely costly in competitive environments. Of course, some forms of speed are extremely dangerous. For example, it is always dangerous to get heavily involved with a new opportunity before we have explored what is holds. Good strategy doesn't promote speed in the sense of a headlong rush.