Posts

Showing posts with the label thinking

Short-term versus Long-Term Strategic Thinking

Image
Strategic thinking is a major component of business planning that sets the course of action that leads to either business success or business failure. Short-term thinking can be problematic as resources are wasted fixing potholes and gaining immediate results without considering long-term solutions. Executives that focus exclusively on short-term results sometimes leave their organizations in worse shape. A great portion of our day is engaged in crisis management where new problems arise and we must deal with them immediately before the they spread. This process can be effective in the short run but can damage the company in the long-term when the root of the problem is not addressed. The crisis situations will continue to spread and grow as the underlying issues spread. A strategy should focus on limiting the damage caused by crisis problems while ensuring the root problem is still being addressed. Executives who think short-term will see immediate results but will often damage