Go Long: Why Long-Term Thinking Is Your Best Short-Term Strategy - Softcover

Carey, Dennis; Dumaine, Brian; Useem, Michael; Zemmel, Rodney

Softcover

ISBN 10: 1613630883 ISBN 13: 9781613630884

Publisher: Wharton School Press, 2018

Synopsis

800-CEO-READ BESTSELLER
 
Featured in Fortune, Harvard Business Review, and Entrepreneur, Go Long is “mandatory reading for the CEOs and boards of all public companies,” according to David M. Rubenstein, co-founder and co-executive chairman of The Carlyle Group.
 
The lifespans of companies are growing shorter each day. Why do some companies thrive and grow, while others fail?
 
Inspired by the CEO Academy®, the annual off-the-record gathering of chief executives organized by the authors, Go Long reveals how some of the world’s most prominent business leaders resisted short-term pressures to successfully manage their organizations for the long term, and in turn, aim to create more jobs, more satisfied customers, and more shareholder wealth.
 
In Go Long, authors Dennis Carey, Brian Dumaine, Michael Useem, and Rodney Zemmel take you behind-the-scenes to witness the business decisions that are enabling leading organizations to outsmart and outlast the competition.
Why did CEO Larry Merlo allow CVS to take a $2 billion hit—on purpose?

• How did former CEO Alan Mulally maneuver Ford’s $48 billion turnaround?
• How did director Maggie Wilderotter and her fellow board members engage top management to embark on an unusual exercise to help Hewlett Packard Enterprise build a long-term strategy?
• Why did former CEO Paul Polman turn back to Unilever’s original mission of leading with a purpose to fuel profits?
• How did former Verizon CEO Ivan Seidenberg convince his investors and board to allow him to make a $150 billion bet?
• How did former CEO George Buckley find a way to address investor calls for 3M to spend less on research and development while still finding a way to innovate?

These leaders argue that a short-term mindset might satisfy investors for this quarter or next, but there’s a heavy price to be paid. Instead, they argue, long-term thinking is your best short-term strategy.

About this title

About the Author:

Dennis Carey, a vice chairman of the global executive search firm Korn Ferry, has recruited some of the most successful Fortune 500 CEOs in American business. He is the founder of the CEO Academy, an annual gathering of the nation’s top business leaders, and is coauthor of five books including most recently Boards That Lead (with Ram Charan and Michael Useem) and Talent Wins: The New Playbook for Putting People First (with Ram Charan and Dominic Barton).
 
Brian Dumaine is the founder and editor in chief of the New York media company High Water Press and a contributor to Fortune magazine, where for three decades he has held various writing and editing positions, including global editor and assistant managing editor. An award-winning journalist, he has produced investigative pieces as well as articles on leadership, investing, technology, and the environment. He is the author of The Plot to Save the Planet: How Visionary Entrepreneurs and Corporate Titans Are Creating Real Solutions to Global Warming, and is the editor of the book The Greatest Business Decisions of All Time, with a foreword by Jim Collins.
 
Michael Useem is the William and Jacalyn Egan Professor of Management and Faculty Director of the Center for Leadership and Change Management and McNulty Leadership Program at The Wharton School of the University of Pennsylvania. His university teaching includes MBA and executive MBA courses on management and leadership, and his earlier books include The Leader’s Checklist, The Strategic Leader’s Roadmap (with Harbir Singh), Mastering Catastrophic Risk (with Howard Kunreuther), Fortune Makers: The Leaders Creating China’s Great Global Companies (with Harbir Singh, Neng Liang, and Peter Cappelli), and Boards That Lead (with Ram Charan and Dennis Carey).
 
Rodney Zemmel, senior partner at McKinsey and managing partner for New York, Boston, and Stamford, serves clients on growth strategy, performance improvement, and value creation through mergers and acquisitions. He has experience across a range of global industries, with a concentration in healthcare products and services. Beyond healthcare, he leads McKinsey’s support for a number of private-equity clients as well as companies in consumer-facing industries.

Review:

“For anyone who is concerned about the importance of forcing longer-term objectives into a public company short-term mindset and who wants to learn more about some of the heroes of this effort, this book is a godsend. Indeed, it should be mandatory reading for the CEOs and boards of all public companies.” —David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group

“Go Long is a must-read. If you’re looking to build or lead a company that grows consistently not just from quarter to quarter, but year to year ... this book is for you.” —Indra Nooyi, Chairman and CEO, PepsiCo, Inc.

“Through deep insights and original reporting, Go Long helps to bring leaders and investors the principles they need to keep long-term thinking at the heart of their strategies.” —Klaus Schwab, Founder and Executive Chairman, World Economic Forum, and author, The Fourth Industrial Revolution and Shaping the Fourth Industrial Revolution

“CEOs face enormous pressure for short-term performance with little emphasis on the long-term consequences of short-termism—until the consequences arrive.... This book will help CEOs rebalance their focus on achieving both short-term and long-term performance.” —Ron Williams, CEO, RW2 Enterprises, and former CEO, Aetna

“Go Long provides critical advice to corporate leaders dealing with today’s most pressing issue of business strategy—long term versus short term management. Must reading for directors, CEOs and all executives.” —Martin Lipton, a founding partner, Wachtell, Lipton, Rosen & Katz

“Through deep insights and original reporting, Go Long helps to bring leaders and investors the principles they need to keep long-term thinking at the heart of their strategies.” —Robert Bradway, Chairman and CEO, Amgen

“Go Long reminds us that while short-term priorities come and go, a leader can’t achieve that objective without a North star of a committed long-term strategy and vision.” —James McNerney, former Chairman and CEO, The Boeing Co.

“Go Long sharply delineates the tradeoffs that executives face in setting priorities. Decisions that build long-term value are the essence of great leadership.” —Donald J. Gogel, Chairman and CEO, Clayton, Dubilier & Rice

“Go Long combines insightful analysis with inspiring stories to show CEOs, boards, and investors how purpose-driven strategies can create important economic and societal benefits.” —Rosabeth Moss Kanter, Harvard Business School Professor and Chair and Director, Harvard Advanced Leadership Initiative

“Considering the enormous harm that short-term investing has done not only to companies, but to countries as well, this book should be required reading in boardrooms everywhere. A concise, powerful call for responsible, long-term business practices.” —Kirkus Reviews

About this edition

• Publisher: Wharton School Press
• Publication date: 2018
• ISBN 10: 1613630883
• ISBN 13: 9781613630884
• Binding: Paperback
• Number of pages: 140