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“One of the best guides ever on how to lead a company…the War and Peace of books on corporate leadership.” —Fortune Magazine
“Both readable and a practical guide for managers.”—The Economist
Dave Cote just delivered the War and Peace of books on corporate leadership… meet[s] the biggest challenge in corporate America: balancing the short-term success demanded by investors with sowing the seeds for rewards that will only be harvested years hence, but are essential to achieving greatness. —Fortune Magazine
Business 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 of achieving both short- and long-term goals.
Short-termism is rampant among executives and managers today, causing many companies to underperform and even go out of business. With competition intense and investors demanding strong quarterly gains now, leaders all too often feel obliged to sacrifice the investments so necessary for long-term growth.
Dave Cote is intimately familiar with this problem. Upon becoming Honeywell’s CEO in 2002, he 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 to
- 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 finally transcend short-termism’s daily grind and leave an enduring legacy of success.
From the Publisher
Robert Iger, Former Chairman and CEO, The Walt Disney Company, #1 New York Times bestselling author
“David Cote turned a failing company into a global juggernaut by transforming the culture at Honeywell, and challenging his people to think and operate differently and, in his words, ‘stay hungry.’ David’s story is both inspirational and highly instructive, and his perspective and the lessons he imparts in Winning Now, Winning Later are relevant not just in business, but in any scenario where one wants to enact meaningful change and achieve great success.”
Henry M. Paulson Jr., Former US Secretary of the Treasury, New York Times bestselling author
“David Cote is the most successful leader of a major industrial manufacturing company of his era. Of course, there have been some extraordinary high-tech successes with CEOs who are deservedly rock stars. But in the manufacturing area, David Cote stands alone.”
Marc Benioff, Co-chief Executive Officer and Founder, Salesforce, New York Times bestselling author
“David Cote delivers a masterclass in how to run a global Fortune 100 business for long-term success. Every business leader from every industry can learn from the hard-earned wisdom offered in this book.”
Indra K. Nooyi, Former Chairman, PepsiCo, Inc.
“As a CEO who managed for the long term with a keen eye to the short term, I found that I had to create my own playbook as I went along. How I wish David Cote’s excellent book had been available to me then. Life would have been so much easier! Thanks, David. Many leaders will benefit from this ‘how to.’”
Author David M. Cote, the much respected former CEO of Honeywell, shows how you can hit your short-term goals without sacrificing long-term growth as a leader. In Winning Now, Winning Later, Cote shares a simple, paradigm-shifting method of achieving both short-and long-term goals. Even in a recession, accomplishing these two seemingly conflicting things can ensure you emerge from a crisis stronger than ever.
Spot practices that seem attractive in short-term, but will cost the company in the future.
Sustain both short-term performance and long-term investments even in challenging times.
Determine where and how to invest in growth for maximum impact.
Transcend short-termism’s daily grind and leave an enduring legacy of success.
About the Author
When David M. Cote became CEO of Honeywell in 2002, the company was a “train wreck.” But by pursuing both short and long-term results under Cote’s leadership over 16 years, Honeywell’s market cap grew from 20 to 120 billion dollars, delivering returns of 800 percent and beating the S&P by nearly two and a half times.
Cote is one of the most successful CEOs of his generation and is highly praised for how he skillfully navigated the Great Recession at Honeywell, providing today’s leaders with strong advice for navigating the fluctuating economy.