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. And in these pages, he shows you how taking the same revolutionary approach might be the smartest business decision you’ll ever make.
Upon taking his place as CEO of Honeywell International in 2002, he encountered an organization on the verge of failure thanks to years of short-termism.
Winning Now, Winning Later 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.
Offering 10 essential principles for winning both today and tomorrow, this book will help you:
- 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 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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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. He is a member of the Aspen Economic Strategy Group and on the Boards of the Council on Foreign Relations and the Conference of Montreal.
Table of Contents
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
About the Author 277