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A Year with Peter Drucker - 52 Weeks of Coaching for Leadership Effectiveness by Joseph A. Maciariello

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Week 7

Manage in Two

Time Dimensions

Introduction

CEOs are acutely aware of the need to balance short-term results with long-term results. They recognize and take into account the trade-offs. For example, it is easy to reduce research and development and employee development allowances in times when meeting short-term profit goals is in jeopardy. But if you do this, make sure you restore the resources and activities as soon as possible to maintain the innovation, knowledge, and skill levels you will need to successfully compete in the future. Restoring the funds will help to keep your strategic plan intact.

And this is the essence of strategic planning—making resource allocation decisions today that will affect the future. It requires deliberately ...

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