A Quote by Al Gore
The constant drive for campaign dollars has distorted decision-making in Washington, DC, to the point where our systems can no longer effectively address complex, long-term problems like the climate crisis. Which brings me to my other major concern - the short-term focus of capitalism. It distorts the allocation of resources and the decision-making processes of companies.
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Human decision-making is complex. On our own, our tendency to yield to short-term temptations, and even to addictions, may be too strong for our rational, long-term planning.
Poor decision making in government; the tragedy of short-term economic thinking; our national housing crisis: these are real 21st Century problems for our country. They are problems that can only be solved by genuinely fearless thinking about our natural environment.
Money is a short-term result that incentivizes short-term decision making.
I want to take a long-term view. Being distracted by short term things can be dangerous when you are making cold, calm, long-term decisions.
We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.
Informal relationships are not mere minor interstitial supplements to the major institutions of society. These informal relationships not only include important decision-making processes, such as the family, but also produce much of the background social capital without which the other major institutions of society could not function nearly as effectively as they do.
When Dad made a decision, whether it was about family or his own career, the majority of the time, it was for the long term, not the short term.
The most important thing that a company can do in the midst of this economic turmoil is to not lose sight of the long-term perspective. Don't confuse the short-term crises with the long-term trends. Amidst all of these short-term change are some fundamental structural transformations happening in the economy, and the best way to stay in business is to not allow the short-term distractions to cause you to ignore what is happening in the long term.
Deciding to commit yourself to long term results rather than short term fixes is as important as any decision you'll make in your lifetime.
When you start with why, which decision you make becomes very easy. It is so hard to do when you may suffer a short term loss or you may lose out on some short term gain. But in the long run it's way more powerful and way more stable.
Britain can choose, as others are, short term fixes and more stimulus. Or we can lead the world with long-term solutions to long-term problems.
After careful consideration, we have decided that for our next fiscal year, we'll issue guidance on comparable store used unit sales and on earnings per share only for the full fiscal year. We will no longer issue quarterly guidance. This decision reflects our continuing focus on longer-term store, sales, and earnings growth and on return on invested capital, and our recognition that the performance in shorter-term periods can be more volatile than over the longer term. As we report our quarterly results, we plan to comment on how our performance is tracking against our annual guidance.
Hindsight is of little value in the decision-making process. It distorts our memory for events that occurred at the time of the decision so that the actual consequence seems to have been a "foregone conclusion." Thus, it may be difficult to learn from our mistakes.
Frequent comparative ranking can only reinforce a short-term investment perspective. It is understandably difficult to maintain a long-term view when, faced with the penalties for poor short-term performance, the long-term view may well be from the unemployment line ... Relative-performance-oriented investors really act as speculators. Rather than making sensible judgments about the attractiveness of specific stocks and bonds, they try to guess what others are going to do and then do it first.
For too long, the world has been focused on short-term growth and development at the expense of our long-term survival as we have depleted our natural resources at historically reckless rates.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
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