Excellent post by 3 greens
However, my 2p is that in this day of relaxing standards (see posts, many and various) a new(ish) say sub 100 hrs, pilot would be well advised to have a standard response of throwing away a bounce/hard landing and going around. There is a lot to consider in order to execute a well recovered bounce in a fairly short space of time for a new/inexperienced or more likely non-current (at least in go arounds) pilot.
Obviously everything is context based and if there is no room to go around then the prevailing conditions will apply but I have to say that it all comes back to the approach. Good, steady, well considered approaches rarely result in a bad landings, short overruns or white knuckle go arounds.
On a brighter note a pal (Tng Capt) recently had to lean over and 'pop the wheels down' on a 757 on short finals for a relatively experienced PF. He said "I think you'll need those" The reply? "I know but I've only just got it stable!"
We can all make a bad approach, its easy to solve unless you let it go too far with worries about money/ego/etc. Just go around, enjoy the extra long ride and set up a text book approach for no.2. this will probably impress the passengers/onlookers etc anyway and in any event if you need an excuse you could claim it was a go around practice so you were current if, in the unlikely event, you ever needed to do one for real!
Happy Ldgs to all
Xraf