Winning
Now, Winning Later: How Companies Can Succeed in the Short Term While Investing
for the Long Term
by David M. Cote
Read or Download at: http://best.ebookcollection.space/?book=1599510219
Business leaders often take
actions that prop up earnings in the short term, but compromise their
companies’ long-term health. David Cote, the much-respected former leader of
Honeywell International and one of the most successful CEOs of his generation,
shares a simple, paradigm-shifting method of achieving both short- and
long-term goals.
Short-termism is rampant among
executives and managers today, causing many companies to underperform and even
go out of business. With competition intense and investors demanding strong
quarterly gains now, leaders all too often feel obliged to sacrifice the
investments so necessary for long-term growth.
Dave Cote is intimately
familiar with this problem. Upon becoming Honeywell’s CEO in 2002, he
encountered an organization on the verge of failure, thanks to years of
untrammeled short-termism. To turn the company around, he and his team adopted
a series of bold operational reforms and counterintuitive leadership practices
that enabled them to “do two conflicting things at the same time”--pursue
strong short- and long-term results. The outcome was phenomenal. Under Cote’s
leadership, Honeywell’s market cap grew from $20 billion to $120 billion,
delivering returns of about 800%, two and a half times greater than the S&P
500.
Offering ten essential
principles for winning both today and tomorrow, this book will help readers to
Spot practices that seem
attractive in the short term but will cost the company in the future
Determine where and how to
invest in growth for maximum impact
Sustain both short-term
performance and long-term investments even in challenging times, such as during
recessions and leadership transitions
Feel inspired to stand up to
investors and other managers who are solely focused on either short- or
long-term objectives
Step back, think independently,
and foster independent thinking among others around them
Presenting a comprehensive solution to a
perennial problem, Winning Now, Winning Later is a go-to guide for leaders
everywhere who seek to finally transcend short-termism’s daily grind and leave
an enduring legacy of success.
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