Tuesday, June 29, 2010

The Perils of Flip-Flops

Not the ones you wear. I'm referring to decisions. Making one and later revoking or backtracking.

Indecisiveness must be differentiated from correcting a mistake. The former is a weakness, while the latter is a strength.

Recently, the government announced that Ascot (one of Vincent Tan's many money-making vehicles) will be re-issued a sports betting license, thus giving it a strong advantage as the only legalized sports betting company in Malaysia, much like Genting monopolized the casino industry. Then, after a few weeks and after Vincent Tan has made the necessary public disclosure including his own personal offer to be a Malaysian Bill Gates (which I think is a bit "poyo"), the government back-tracked. There's no other way to describe it.

Now, I won't comment on whether sports betting, or gambling in general, is good or not. Even if they can show statistics that says 100% of people who gambled will lose their family, kill their kids, and dance naked in Dataran Merdeka, it wouldn't matter.

What matters is having a government that can make a thorough strategic analysis of the situation before making a decision. Surely they must think not only of the financial repercussions (in terms of tax collected) but also the political and social fall-out from any decision. Flip-flopping is bad, not only in business to make money, but in the business of running a nation.

Until today, I still have reservations on buying a new car due to constant rumors about lowering of excise duty on imported cars. I've been hearing this since 2008.

Stick to your guns if you truly believe that the future will be all the better for a decision made today. As a leader of my own organization, I know how hard it is to make a decision. But that's why we're here. To decide. Whether it's right or wrong.

Side note: Did you know that Genting Highlands (I think First World?) is the world's largest casino resort?


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