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
From local coffee shops to the largest Fortune 500 companies, everyone is struggling to make the impossible choice between chasing short-term objectives and creating a secure future for their company.
David Cote understood this dilemma and rejected it. In these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make.
This book reveals the bold the operational reforms and counterintuitive leadership practices you can put into practice that will allow you to do two conflicting things at the same time—pursue strong short- and long-term results. 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 practices that seem attractive in the short term but will cost the company in the futureDetermine where and how to invest in growth for maximum impactSustain both short-term performance and long-term investments even in challenging times, such as during recessions and leadership transitionsFeel inspired to stand up to investors and other managers who are solely focused on either short- or long-term objectivesStep back, think independently, and foster independent thinking among others around you
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.
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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.
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