I am doing a lot of thinking right now about waste – specifically about wasted human potential in our organisations.
A major driver of waste is playing a short-term game. In fact I would go as far as saying that often sacrificing our future at the altar of short-term thinking!
When we make short-term investments and short-term decisions, we are trading our future for short-lived gain right now – it’s worshipping a false god.
We see the impacts of short term thinking in our political system. Political parties need to create results in a four-year term, despite the fact that major social and physical infrastructure projects take much longer than four years to develop, implement and provide tangible results. Would a project like the Sydney Harbor Bridge get off the ground now?
In our boardrooms, too many decisions are made to meet short-term earnings targets and not long-term value. Creating performance systems that reward immediate results and not long-term value contribute to this problem, sending mixed messages throughout the organisation.
Even in sport we see this pressure. Cricket test matches used to last up to 5 days and now the team is expected to have the job done in 3 hours!
Interesting to reflect on:
How short-term thinking might be creating waste in your career, team or organisation?
Where could a dose of long-term thinking help fulfill your potential?
Have an Extraordinary day