Balance Short Term Results with Long Term Strategic Vision

2/1/14

Balance Short term and Long term needs simultaneously with Rigor, Vision, Courage

Short Term Quarterly                              Long Term Vision
********************                                    *****************
Deliver Results                                         Create a dream, a vision of a profitable future
 -Have to Eat & Survive today                   - Be patient with strategy
 -Squeeze the lemon; wring out costs   
       

Deliver instant/certain results                    Invest in future
**************************                              ****************
(1) Manage people, Motivate                    Develop people
 -Incentives/rewards                                     - Send them to Training programs, courses
 - Clear goals                                                - Give them different experiences
 - Passionate attitude about winning            - Stretch assignments; encourage to take risks

(2) Manage R&D
 - Funds to improve existing products           Fund Research to deliver results over several years

(3) Manage Marketing
- Cut Marketing costs                                    - Fund Advertising budget
                                                                       - Build market share & brand       

Reference
Welch & Welch (2013)
http://www.linkedin.com/today/post/article/20130725154204-86541065-eating-and-dreaming?trk=mp-reader-card