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As long as quarterly earnings and other short-term financial metrics remain the ultimate measure of success, the current on-demand approach to managing business will spawn more crises.
Measuring success (or failure) requires a deeper, longer-term perspective—one that allows for more investment in large-scale opportunities (though they may offer less-predictable returns), and accounts for unmitigated risks (which, while they may ultimately bring lasting growth, have the potential in the short term to erase or negate incremental gains).
1 A new balancing act between short- and long-term success
As the pendulum swings from short-term survival to long-term durability, the focus will in turn shift from cost-cutting to investment. It's hard to gauge exactly when that shift will happen—it would certainly not be wise to hold one's breath. After all, CEOs must first concentrate on strategy, opportunity and differentiation to ensure their businesses can survive, endure, and succeed over the long term.
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