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Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term

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Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term

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Overview

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

Product Details

ISBN-13:	9781599510224
Publisher:	HarperCollins Leadership
Publication date:	06/30/2020
Sold by:	HarperCollins Publishing
Format:	eBook
Pages:	288
File size:	3 MB

About the Author

As Chairman and CEO of the industrial giant Honeywell over 16 years, David Cote grew the company’s market capitalization from around $20 billion to nearly $120 billion, delivering returns of 800 percent and beating the S&P by nearly two and a half times. Currently, David is Executive Chairman of Vertiv Holdings Co., a global data center products and services provider. Since joining as Chairman, the Vertiv stock has risen 250 percent since its launch in February 2020. He was elected to the Federal Reserve Bank of New York in March 2014 and continued through March 2018, as a Class B director to represent the interests of the public. He is a member of the Aspen Economic Strategy Group and former board member of the Council on Foreign Relations and the Conference of Montreal. David holds a number of awards, including the Horatio Alger Award, CEO of the Year from Chief Executive Magazine for 2013, and Barron’s Top 30 CEO’s globally for five consecutive years.

Introduction ix

Part I Lay the Foundations

Chapter 1 Banish intellectual Laziness 3

Chapter 2 Plan for Today and Tomorrow 33

Part II Optimize the Organization

Chapter 3 Resolve Serious Threats to the Business 59

Chapter 4 Focus on Process 81

Chapter 5 Build a High-Performance Culture 105

Chapter 6 Get and Keep the Right Leaders-But Not Too Many of Them 133

Part III Invest to Grow

Chapter 7 Go Big on Growth 161

Chapter 8 Upgrade Your Portfolio 185

Part IV Protect Your Investments

Chapter 9 Take Control of the Downturns 215

Chapter 10 Manage the Leadership Transition 237

Epilogue 259

Acknowledgments 267

Notes 271

About the Author 277

From the B&N Reads Blog

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Editorial Reviews

'David Cote turned a failing company into a global juggernaut by transforming the culture at Honeywell, and challenging his people to think and operate differently and, in his words, 'stay hungry.' David's story is both inspirational and highly instructive, and his perspective and the lessons he imparts in Winning Now, Winning Later are relevant not just in business, but in any scenario where one wants to enact meaningful change and achieve great success.' —Robert Iger, Former Chairman and CEO, The Walt Disney Company, #1 New York Times bestselling author

'David Cote is the most successful leader of a major industrial manufacturing company of his era. Of course, there have been some extraordinary high-tech successes with CEOs who are deservedly rock stars. But in the manufacturing area, David Cote stands alone.' —Henry M. Paulson Jr., Former US Secretary of the Treasury, New York Timesbestselling author

'I talk to more CEOs than anyone on Earth, and my advice to them is 'get this book,' because I am sick and tired of the griping and the grousing about how they aren't given enough time to work their magic. David Cote is living proof that you can perform both short and long term, and he's laid it all out for you to do it. Anyone running any business needs to satisfy more than themselves. Cote tells you how to do the job to everyone's satisfaction. Believe me, his task was a lot more difficult than yours will ever be unless your name is Hercules and you work at Augean Stables, Inc! '—Jim Cramer, host of CNBC's Mad Money,New York Times bestselling author

'As a CEO who managed for the long term with a keen eye to the short term, I found that I had to create my own playbook as I went along. How I wish David Cote's excellent book had been available to me then. Life would have been so much easier! Thanks, David. Many leaders will benefit from this 'how to.''—Indra K. Nooyi, Former Chairman, PepsiCo, Inc.

'David Cote delivers a masterclass in how to run a global Fortune 100 business for long-term success. Every business leader from every industry can learn from the hard-earned wisdom offered in this book.'—Marc Benioff, Co-chief Executive Officer and Founder, Salesforce, New York Times bestselling author

From the Publisher

04/27/2020
Cote, executive chairman of electrical equipment provider Vertiv Holdings, seeks to dispel the false dichotomy between quick revenue gains and long-term financial health in this usefully pragmatic but overly ego-driven study based in his former position as Honeywell CEO. Framing himself as the company’s savior, he describes arriving in 2002 to find Honeywell foundering and himself surrounded by buffoons and incompetents. Cote lays out his strategy for turning the company around in 10 points, such as “take control of the downturns,” in part by learning from past financial crises; “get and keep the right leaders—but not too many of them”; and “go big on growth,” in part by making careful use of metrics. The advice is both broadly applicable and grounded in specifics—on metrics, he describes how a dictum to derive 50% of sales from new products might incentivize salespeople to simply reintroduce the “same old products with slight modifications.” However, the near-glee with which he describes his former colleagues’ foibles leaves the reader with the unsettling impression that his primary interest is in taking potshots at his former company. This vengeful tone detracts from the useful whole and results in a disappointing business guide. (July)

Publishers Weekly

Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term

Winning Now, Winning Later: How Companies Can Succeed in the Short Term While Investing for the Long Term

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