Winning Now, Winning Later
How Companies Can Succeed in the Short Term While Investing for the Long Term
by David M. Cote
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Pub Date 30 Jun 2020 | Archive Date Not set
LEARN HOW TO GROW YOUR BUSINESS IN A TOUGH ECONOMY
In this unpredictable business landscape, everyone is struggling to choose between chasing short-term objectives and creating a secure future for their company, but both are crucial.
As CEO of Honeywell, David Cote understood this dilemma well. He turned the company around despite facing the 2008 recession. In these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make.
Presenting a comprehensive solution to a perennial problem, Winning Now, Winning Later is a go-to guide for you and leaders everywhere to finally transcend short-termism’s daily grind and leave an enduring legacy of success. This tested and proven approach can strengthen your business like never before and even rescue it from the brink of disaster, no matter how dire the current circumstances may seem.
In Winning Now, Winning Later, Cote shares 10 essential principles for winning today and tomorrow such as:
- Spot business practices that seem attractive in the short term but will cost the company in the future
- Determine where and how to invest in growth initiatives for maximum impact
- Sustain both short-term performance and long-term investments even in challenging times, such as a recession or leadership transition
- Feel inspired to stand up to investors and managers who are solely focused on either short- or long-term company objectives
- Step back and foster independent thinking among those around you
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Average rating from 4 members
Can a company deliver both short-term performance while focusing on long-term goals and investments to create a sustainable, profitable business? David Cote, former CEO of Honeywell International, believes it's possible -- and he outlines how in his book. I enjoyed that this wasn't a rote, linear narrative. Instead, Cote shares how he resolved Honeywell's problems, including financial underperformance, long=standing environmental issues and a toxic corporate culture. Relevant to today, he also shares on lessons learned from the 2008-09 financial crisis.
This book is agreat view into how things are run at Honeywell, especially from someone who went in with outside experience. Very immersive, i can imagine being there in every meeting and those tough questions being asked. Good lessons about changing generations of customers/emloyees and their expectations of social responsibilities from the companies. Short=termism vs Long-termism is a major part of Cote's leadership. You will learn a lot from the book as well as see parallels in other companies which favor long term growth for exa Amazon.
I am very fascinated by the contradicting goals that need to be accomplished by leaders everyday eg inventory have enough of it but not too much.