RETAILOBSERVER.COM NOVEMBER 2020
14
B
usiness leaders often take actions that prop up earnings in the
short term, but compromise their companies' long-term health.
David Cote, the much-respected former leader of Honeywell
International and one of the most successful CEOs of his generation,
shares a simple, paradigm-shifting method for achieving both short- and
long-term goals.
Upon becoming Honeywell's CEO in 2002, Cote encountered an
organization on the verge of failure, thanks to years of untrammeled short-
termism. To turn the company around, he and his team adopted a series of
bold operational reforms and counterintuitive leadership practices that
enabled them to "do two conflicting things at the same time" – pursue
strong short- and long-term results. The outcome was phenomenal. Under
Cote's leadership, Honeywell's market cap grew from $20 billion to $120
billion, delivering returns of about 800%, two and a half times greater than
the S&P 500.
Offering ten essential principles for winning both today and tomorrow,
this book will help readers:
• Spot practices that seem attractive in the short term but will cost the
company in the future
• Determine where and how to invest in growth for maximum impact
• Sustain both short-term performance and long-term investments even in
challenging times, such as during recessions and leadership transitions
• Feel inspired to stand up to investors and other managers who are solely
focused on either short- or long-term objectives
• Step back, think independently, and foster independent thinking among
others around them
Presenting a comprehensive solution to a perennial problem, Winning
Now, Winning Later is a go-to guide for leaders everywhere who seek to
transcend short-termism's daily grind and leave an enduring legacy of
success.
B O O K R E V I E W
WINNING NOW, WINNING LATER:
How Companies Can Succeed in the Short Term While Investing for the Long Term
Author: As Chairman and CEO of the industrial giant Honeywell for over 16 years, David Cote grew the
company's market capitalization from around $20 billion to nearly $120 billion, delivering returns of 800
percent and beating the S&P by nearly two and a half times. David is currently Executive Chairman of Vertiv
Holdings Co, a global data center products and services provider. He is a member of the Aspen Economic
Strategy Group and on the Boards of the Council on Foreign Relations and the Conference of Montreal.
Publisher: HarperCollins Leadership
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