“Management always has to consider both the present and the future…”

“Management always has to consider both the present and the future; both the short run and the long run. A management problem is not solved if immediate profits are purchased by endangering the long-range health, perhaps even the survival, of the company.

A management decision is irresponsible if it risks disaster this year for the sake of a grandiose future. The all too common case of the great leader in management who produces startling economic results while running the company but afterward leaves behind nothing but a sinking hulk is an example of irresponsible managerial action…

In every case where present and future are not both satisfied, where their requirements are not harmonized, or at least balanced, capital, that is wealth-producing resource, is endangered, damaged, or destroyed.”

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“Management always has to consider both the present and the future…”

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