Winning Now, Winning Later
By David M. Cote
How Companies Can Succeed in the Short Term While Investing for the Long Term. HarperCollins Leadership, 2020.
Summary of Winning Now, Winning Later book by David M. Cote
A guide from the CEO of Honeywell on growing your company, increasing revenue, and learning how to profit from both short-term and long-term strategies, using Honeywell as a case study.
Chapters in Winning Now, Winning Later book summary
What do you get from this book? Learn how Honeywell’s CEO combined long-term and short-term business strategies for maximum profit
Despite what most executives think, succeeding at business requires both short-and long-term goals
An “intellectual mindset” is key to being an effective leader, keeping customers happy, and making good decisions
Trusting your team—and yourself—means taking the time to think outside the box and get the job done
Crafting an honest assessment of your business that focuses on strategy rather than quarterly earnings is critical for success
When tragedies strike and lawsuits arise, don’t deny any wrongdoing—accept culpability and work hard to correct the problem
By following production strategies such as TPS and functional transformation, you can lower operating costs and improve production
Developing a strong company culture can help you increase productivity, brand recognition, and capital
A strong succession plan ensures that you can fill leadership roles with quality people and little stress
Research and development is vital to customer satisfaction and global expansion
Mergers and acquisitions are important for growth, but only if the deal is beneficial to both parties
Surviving an economic recession involves furloughing employees, cutting direct and indirect costs, and maintaining your customer base
Transitioning between CEOs should be a long, well-thought-out process that begins years before retirement
Summary of the key insights
Selected critiques in brief
Final word
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Winning Now, Winning Later — Book Summary Snapshot
Who should read Winning Now, Winning Later book
- Entrepreneurs
- business owners
- business students
About the author of Winning Now, Winning Later
David M. Cote
David M. Cote is the former CEO and chairman of Honeywell. He has served as the Executive Chairman of Vertiv Holdings Co, who supplies equipment and services for data centers worldwide. In 2010, President Obama appointed him to the National Commission on Fiscal Responsibility and Reform. Between 2013-2017, Barron’s magazine listed him as one of the “World’s Best CEOs.”
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