Business leaders often take actions that prop up earnings in the short term but compromise their companies’ long-term health. Short-termism is rampant among executives and managers today, causing many companies to underperform and even go out of business.
Upon becoming Honeywell’s CEO in 2002, David M. Cote 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 bold operational reforms and counterintuitive leadership practices that enabled them to 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 percent, two-and-a-half times greater than the S&P 500.
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.