Apple CEO Tim Cook discusses the 25 year plan he developed while a student at Duke University’s Fuqua School of Business and why you should veer away from such plans. Cook spoke as part of his class reunion at the school.
The journey was not predictable. The only thing you can really do is prepare. Ebb and flow. Lots of things change. Have a North Star. Find your journey.
Apollo 13 (1995). When an oxygen tank explodes on the spacecraft, NASA’s ground team and the astronauts must make a series of rapid, imperfect decisions to bring the crew home safely. The film highlights how quick thinking, adaptability, and the willingness to improvise are valued over waiting for perfect solutions. The mantra “failure is not an option” underscores the urgency and necessity of fast action.
Americans expect the initial parts of a deliverable as quickly as possible. A partial deliverable early often meets the needs better than the complete product later. Speed beats completeness. Patterns
The American term Time is Money conveys the concept of efficiency as a measure of good negotiation. It is culturally significant because prolonged processes are seen as a weakness or incompetence, especially regarding negotiations.
The American term Quick Win conveys the concept of a short-term, visible success. It is culturally significant because achieving quick results helps maintain momentum and motivation.
Vox. 2016. Hillary Clinton has made short-term thinking in corporate America — also known as “quarterly capitalism,” a reference to the pressure companies feel to meet quarterly earnings predictions — a central issue in her campaign.
That issue has been bubbling beneath the surface of policy discussion for years, but it’s gained fresh attention as influential investors such as Warren Buffett and Lawrence Fink (of BlackRock, the world’s biggest asset holder), and politicians like Vice President Joe Biden, have stepped up to warn of the perils to our economy of turning away from a long-term perspective.
Elon Musk’s daily schedule is incredibly demanding, but he ensures that everything gets done by scheduling everything in 5-minute time blocks. This technique is called time boxing. The first three minutes of this video are instructive. Don’t bother with the rest.
Americans plan for the short- to mid-term. Long-term action cannot be planned for properly. It’s not worth the time, effort and investment.