I think that absolutely the first order of business is to halt and carefully consider your circumstances. This is the whole reason behind stopping to brew "a nice cup of tea." Get the heart rate down, pull out the map, and evaluate as many factors impinging on this decision as you can.

Are you lost or are you injured? Can you figure out where you are and get unlost? Can you patch yourself up and travel or not?

Who knows you are missing, if anyone? When will they call SAR? Is SAR active in the area? Do you have any idea of their competence (less of an issue these days, at least in the USA or Canada)?

If you are hopelessly confused, it is almost always to stop traveling, find a favorable situation and start signaling and making our presence known. Same thing for a serious injury,as you define it. Don't worry about what others will say after the fact.

What is the state of the weather? If a storm is coming in, it will often be a good idea to shelter up, unless you are very close to the trail head.

Are you on a trail or in an area where you will encounter others? This makes a big difference.

What have you in the way of material resources? Can you make a fire and/or shelter? If you can't and you know the way to help (you are not lost) maybe you should go for it...

What do don't want to consider are circumstances outside your immediate situation. Do not worry about missing the Big Meeting, your plane flight, or little Sadie's birthday party. Those are trivial in the context in which you are situated. I mention this because there are instances where this clearly was a factor - like the gentleman who died trying to cross a flooding wash because he was missing the 1978 Super Bowl (Denver vs Dallas).

These are just some important considerations and I am sure other forum members will add to the list. Just a couple of final thoughts:

Historically, more people should have ceased traveling, forted up, and started vigorous signaling than did so. A good wood fire is an amazingly effective signal - draws SAR like flies to rotting meat. Of course you will consider the advisability of making a fire and you will do it properly. In recent years, there have been major fires started by lost individuals. Conditions vary widely. Light the fire, flash the mirror, and blow the whistle, and you will be found, in most circumstances, if not by SAR, then by someone you are annoying tremendously by making such a racket.

A special consideration in arid regions. If you are at or near a water source, seriously consider staying right there until someone comes along. In desert conditions, water is life, and its availability dwarfs all other considerations.

I am not sure the terms "right" or "wrong" really apply to most of these situations. You are evaluating probabilities and trying to increase the odds. There is no infallible, one-size-fits-all solution that will work every time, guaranteed or your money and life back.

If all else fails, recall the last words of Robert Falcon Scott, "We took chances, we knew we took them; things have come out against us, therefore we have no cause for regret."

Good thread. Let the games begin......