Are we actively causing all of the fear and uncertainty in the market by constantly focusing on short term success and failures? How can we build things to last if we focus only on what happens in the next days or weeks or quarter?
It seems as if nothing could be more damaging to the sustainability of any organization than a myopic focus on the short-term. Yet, the stock market and our overall economy seems to be dependent upon what is coming up next versus how will we sustain success over time.
If we were to focus actions in our long-term relationships based on one day or one conversation, there’s no doubt that many of them would not last. The same holds true for organizations. Organizations that don’t take the long view are doomed to be victims of the news versus creators of it.
WHAT CAN WE DO ABOUT THIS?
• Make decisions based on long-term view.
• Communicate based on long-term
Share long term strategy and growth plans regularly. Seeing that there are specific plans in place for growth eases the pain of short term loss.
• Put in place mechanisms to ensure that all stakeholders are preparing for the success of long-term
Amazon has often ruffled investors’ feathers by sacrificing short-term profits to make big bets on new technologies. Taking the long-view, while managing daily issues can reap huge benefits.
Companies like Apple, Amazon and countries like China, have kept their eyes on the long-term view and are reaping its benefits. Focusing only on the next step avoids preparing for the long road ahead. When all the emphasis is only on the next quarter, opportunities for growth and innovation are sacrificed.
Is long term success and viability worth that short-term view?
Anil Saxena is the President of Cube 2.14, an organizational development consulting firm that works with clients to increase both customer and employee engagement while decreasing turnover, improving customer retention, and increasing profitability within organizations.
Saxena is a certified High Impact coach and trainer and a Joint Application Design facilitator. He is also certified by both Rush Systems and IBM as a focus group facilitator. He is an inaugural member of Northwestern University’s Learning and Organizational Change program, and he earned his bachelor’s degree in mechanical engineering from the Illinois Institute of Technology.