A Quote by James Sinegal
I think the biggest single thing that causes difficulty in the business world is the short-term view. We become obsessed with it. But it forces bad decisions.
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Business is all about learning to balance the short-term, medium-term and long-term and I think it's when things are going well it covers up a lot of mistakes and bad decisions because you're growing so quickly.
Good decisions can have bad short-term outcomes but be great for the business long-term.
Seeking an acquisition from the start is more than just bad advice for an entrepreneur. For the entrepreneur it leads to short term tactical decisions rather than company-building decisions and in my view often reduces the probability of success.
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.
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.
If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
I understand that fans think short-term, and there's nothing wrong with that. You live or you die in the short term. But I believe in our system, and when you do that, you don't make knee-jerk decisions.
The dominance of short-term perspectives has led to routine decisions in the markets that sacrifice the long-term buildup of genuine value in pursuit of artificial, short-term gains.
Outsourcing, in and of itself, isn't responsible for the erosion of America's high tech infrastructure. The short-term thinking that led to a lot of bad outsourcing decisions is the root cause. And short-term thinking isn't a problem confined to the executive suite. It's a problem in Washington and in our society as a whole.
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.
If you want to make short-term profits from the stock price, then I am a very bad president. But I don't think I'm so bad for maximizing the long-term value of Nintendo.
The thing that I learned early on is you really need to set goals in your life, both short-term and long-term, just like you do in business. Having that long-term goal will enable you to have a plan on how to achieve it. We apply these skills in business, yet when it comes to ourselves, we rarely apply them.
Most people don't take the long-term view. The media is more of a short-term reactionary view.
You become so obsessed, and that's not a bad thing for a movie. Serve it with that sense that it's the whole world.
But obviously, we can't afford to make some bad long-term decisions with regard to basic commitments our country has - trade those away for some short-term assistance that may or may not be there a month from now.
The most challenging thing for a young entrepreneur is to think long-term. When you are 22 years old, it’s hard to think in 22-year increments since that’s as long as you’ve been alive. But it’s really important to view your life as an entrepreneur as a long journey that consists of many short-term cycles.
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