"Business chief executive officers and their boards succumb to the pressures of the financial markets and their fears of takeovers and pour out their energies to produce quarterly earnings - at the expense of building their companies for the long term"
- J. Irwin Miller
About this Quote
This quote by J. Irwin Miller is an objection of the current organization climate. He is recommending that CEOs and also their boards are also focused on short-term gains, such as quarterly incomes, as opposed to buying the long-term success of their firms. He indicates that this results from the pressures of the financial markets and also the fear of requisitions. Miller is suggesting that this temporary emphasis is harmful to the success of companies over time, as they are not investing in the future of their firms. He is promoting for a shift in focus from temporary gains to lasting investments in order to guarantee the success of services in the future.
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