Andy Grove, Co-founder, CEO and Chairman of Intel is in no doubt which is the better way.
"I can't help but wonder why leaders are so often hesitant to lead", he writes in Only the Paranoid Survive, 'I guess it takes a lot of conviction and trusting your gut to get ahead of your peers, your staff and your employees while they are still squabbling about which path to take, and set an unhesitating, unequivocal course whose rightness or wrongness will not be known for years. Such a decision really tests the mettle of the leader."
"By contrast," adds Grove, "it doesn't take much self-confidence to downsize a company - after all, how can you go wrong by shuttering factories and laying people off if the benefits of such actions are going to show up in tomorrow's bottom line and will be applauded by the financial community?"
N.B: CEOs at Sony, HP, Renesas, Nokia, ST-Ericsson.