ISBN-10:
171350409X
ISBN-13:
9781713504092
Pub. Date:
Publisher:
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

by David M. Cote

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Overview

Business leaders often take actions that prop up earnings in the short term, but compromise their companies’ long-term health. David Cote, the much-respected former leader of Honeywell International and one of the most successful CEOs of his generation, shares a simple, paradigm-shifting method of achieving both short- and long-term goals.

Short-termism is rampant among executives and managers today, causing many companies to underperform and even go out of business. With competition intense and investors demanding strong quarterly gains now, leaders all too often feel obliged to sacrifice the investments so necessary for long-term growth.

Dave Cote is intimately familiar with this problem. Upon becoming Honeywell’s CEO in 2002, he 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 a series of bold operational reforms and counterintuitive leadership practices that enabled them to “do two conflicting things at the same time”—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%, two and a half times greater than the S&P 500.

Offering ten essential principles for winning both today and tomorrow, this book will help readers to

  • 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 them

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.



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Product Details

ISBN-13: 9781713504092
Publisher: HarperCollins Focus
Publication date: 06/30/2020
Product dimensions: 5.25(w) x 6.75(h) x 0.50(d)

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

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

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