Winning Now, Winning Later Book Summary - Winning Now, Winning Later Book explained in key points
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Winning Now, Winning Later summary

David M. Cote

How Companies Can Succeed in the Short Term While Investing for the Long Term

4.3 (42 ratings)
22 mins

Brief summary

Winning Now, Winning Later by David M. Cote provides a roadmap for balancing short-term goals and long-term growth in business. It offers valuable insights on leadership, strategy, innovation, and organizational culture.

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    Winning Now, Winning Later
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    Ask tough questions that create an environment of analytical rigor and attention to detail.

    A year after David Cote became CEO of Honeywell, a Fortune 500 conglomerate, he met with the company’s Aerospace division to get an update on its projects. The team had an elaborate presentation planned for him – 150 pages of charts and figures on various engine and aviation projects – but Cote kept interjecting to ask pointed questions about how exactly certain cockpit components were being built, or why costs on a certain power unit were going well over budget.

    These tough questions ruffled some feathers, with the team trying – and failing – to go back to its carefully-planned talking points. But the questions were necessary to understand exactly how the Aerospace division functioned. By not letting the team coast through a structured presentation, Cote was able to learn that the Aerospace division wasn’t being up-front about its costs, which in turn was creating a cascading series of issues for Honeywell.

    The key message in this blink is: Ask tough questions that create an environment of analytical rigor and attention to detail.

    Succeeding in both the short term and long term is hard. If you turn on autopilot and try to do the bare minimum, you’ll soon find yourself hustling from short-term goal to short-term goal, trying to hit whatever metric is most important at that moment. The first step to breaking this habit is to turn off autopilot and make sure you’re fully aware of how your organization is doing. Knowing is more than half the battle.

    But this pursuit of rigorous understanding can’t be a one-man job. To really reap the benefits, it has to be a company-wide culture. One way to ensure that other people are thinking in this way is to make sure that meetings give people the space to explain their thought processes and pay attention to details.

    For example, when Cote went around a room and asked for opinions, he always started with the most junior employees present so he’d know their true ideas and not just a repeat of what their bosses thought. He also required people to back up their arguments with data whenever possible. This cut down on lazy, sloppy thinking – after Cote told the HR department that if decisions came down to feelings, his would take priority, HR brought concrete data supporting its position on a proposed benefit change. A company runs on brainpower, so teach your team members to kick their minds into gear.

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    What is Winning Now, Winning Later about?

    Winning Now, Winning Later (2020) shows the path to lasting business success. Drawing from David Cote’s experience turning around a Fortune 500 multinational, it explains that choosing between short-term and long-term success is a false choice – a successful business can and must operate with both in mind.

    Winning Now, Winning Later Review

    Winning Now, Winning Later (2020) by David M. Cote is an insightful book that explores the delicate balance between short-term success and long-term value creation. Here's why this book is worth reading:

    • With a focus on practical strategies, it offers actionable advice for leaders who want to achieve sustainable growth in their organizations.
    • By combining real-life examples and personal experiences, Cote brings the concepts to life, making them relatable and applicable to various industries.
    • The book's emphasis on the importance of strong leadership and strategic decision-making makes it a compelling read for anyone interested in long-term success.

    Who should read Winning Now, Winning Later?

    • Business leaders of leaders
    • Managers looking to set a culture
    • Process optimizers

    About the Author

    David Cote was the chairman and CEO of the industrial giant Honeywell for over 16 years. During his tenure, he grew the company’s market capitalization from around $20 billion to nearly $120 billion, delivering returns of 800 percent and beating the S&P by nearly two and a half times. Currently, he’s executive chairman of Vertiv Holdings Co, a global data center products and services provider. He’s a member of the Aspen Economic Strategy Group and on the boards of the Council on Foreign Relations and the Conference of Montreal.

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    Winning Now, Winning Later FAQs 

    What is the main message of Winning Now, Winning Later?

    The main message of Winning Now, Winning Later is how to balance short-term wins and long-term success in business.

    How long does it take to read Winning Now, Winning Later?

    The reading time for Winning Now, Winning Later can vary, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.

    Is Winning Now, Winning Later a good book? Is it worth reading?

    Winning Now, Winning Later is a valuable read for anyone interested in business strategy. It provides practical insights and tactics for achieving both short-term wins and long-term success.

    Who is the author of Winning Now, Winning Later?

    The author of Winning Now, Winning Later is David M. Cote.