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It's an excellent analogy: The triumph of beancounters turns out to be brittle and costly when, in this case track maintenance, unprofitable but necessary activ
by Zigurd 5y ago
It's an excellent analogy: The triumph of beancounters turns out to be brittle and costly when, in this case track maintenance, unprofitable but necessary activities and capex are reduced. "It worked fine this quarter!"
- efitz 5y agoI regularly see executives incentivized and rewarded for short term thinking. I never see executives pay a price for the results of years of short term thinking - they only get punished for failing to meet quarterly targets. Execs often jump around before the results of their shortsightedness bear fruit. I dream of a world where the performance of leaders and decision makers is linked with the long term performance of the organizations that they used to manage as well as the one that they currently lead.
- btrettel 5y agoWhat are the options for incentivizing long-term performance?
- Zigurd 5y agoDifficult. You need strong, diverse boards. You probably need worker representation on boards. You need a cultural change that's not very American.
- JumpCrisscross 5y ago> never see executives pay a price for the results of years of short term thinking - they only get punished for failing to meet quarterly targets Are we watching the same securities filings detailing multi-year stock and cash awards based on long-term stock price and operational metrics?