That reminded me of verses from Krishna in Bhagavad Gita. I am reproducing a part of his article here as well as Krishna's verses.

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I met recently with a CEO client I've had for years. He has several pet projects that, in my opinion, should be shut down. His view is that, come hell or high water, they will continue until they succeed. We both have our perspectives, and many others have weighed in as well. At our recent meeting, I asked him to describe what success would look like. He did.

But then I asked a tougher question: What is your standard that, if met, would leave no doubt of failure? Something that would say it's time to walk away from Business X or Project Y? We discovered that he hadn't defined one. So as Business X limped along for nine months without scoring a win, and Project Y looked headed for defeat as well, there would continue to be plenty of opinions – but no definitive action.

That's why we agreed on the need for a failure measurement that transcends opinions. Great leaders set and stick with clear standards for failure as well as success. Others act like gambling addicts, greedily seeing only success, depleting their cash without any off switch.

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The above is not only applicable for business. It is also for life, in general. In everything we do, drawing clear standards for our own ideals of success and failure is important. Otherwise we may be stuck up without progress.

There is a thin line differentiating between being adamant and steady. Similarly a thin line differentiating beween flexible and wavering.

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And to quote Krishna for this:

Chapter 18 (Concluding Chapter) - Verse 22

yat tu krtsna-vad ekasmin
karye saktam ahaitukam
atattvartha-vad alpam ca
tat tamasam udahrtam

And the explanation by Prabupada is:

"And that knowledge by which one is attached to one kind of work as the all in all, without knowledge of the truth, and which is very meager, is said to be in the mode of darkness"

The mode of darkness is the only mode in which a person holds on to his idea or beleif or work forever, without defining a yardstick to change over from it. And that yardstick for change is the yardstick of failure.

-TBT

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References: 1. David Peck's article : http://www.csmonitor.com/2007/0511/p09s02-coop.html

2. Srimad Bhagavad Gita by A.C. Bhakta Vedanta Prabupadha