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How to plan for the long term and the short term at the same time

planning

Is it possible to invest in tomorrow without damaging performance today? Ken Favaro, writing for Strategy+Business, looks at short-term/long-term tension and how to get over it.

Peter Drucker wrote that leaders should keep their noses to the grindstone while lifting their eyes to the hills – meaning every business must reconcile the needs of the present with the needs of the future.

According to Favaro, almost 60% of companies fail to achieve this “acrobatic feat”, instead opting to favour one side over the other. The result, argues the author, is “a kind of corporate schizophrenia” where organisations flip-flop between visionary forward thinking and aggressive cutbacks.

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Credits:
Image: Noel Forster
Source Article: Don’t Let The Short-Term/Long-Term Tension Drag Your Strategy Down
Author(s): Ken Favaro
Publisher: Strategy+Business