If plan A fails

Interestingly, contradicting Susanna Kass at Stanford's Graduate School of Business is Elizabeth Holmes CEO of Theranos, the privately held health technology and medical laboratory company suggesting "The minute you have a back-up plan, you'e admitted you're not going to succeed."  

Both of them can't be incorrect, so the question is - "Is contingency planning an admission of impending failure or prudent risk management?" I tend to support Susanna's views believing strategic planning is fluid and responsive insofar as correct methodology and processes are undertaken to achieve desired results.

As a sailor, you need to steer to the course and keep the endgame in mind, but the best tactical decisions are based on current conditions and strategy. The old adage of defending your position when you are in the lead and engaging in offensive tactics when you are challenging for the lead holds true - you can't just sail your own race. You need to account for the other competitors and respond accordingly.