The curse of short termism.
The inaugural flights of the Spitfire and Concorde were just 12,050 days apart.
It was only another 140 days until we landed on the moon.
From JFK’s stated ambition, “We choose to go to the moon” and it being achieved, took just 6 years and 10 months.
Nowadays it feels that major advancements, and minor ones for that matter, take much longer.
And not just for aviation projects, but for many businesses too – I put it down to short termism.
The primary focus for many businesses is the annual target. This relatively short period is reduced further for corporates who report quarterly. Worse still is the near obsession many companies have with monthly goals, and even weekly ones, as the principal measurement for success or failure.
I say have a 3 year or 1,000 day plan instead.
Imagine what you can achieve in that timeframe.
Roy Amara, (of Amara’s Law fame), stated:
“We tend to overestimate the effect of a technology in the short run, and underestimate the effect in the long run.”
I suggest this applies to many if not all aspects of business as well.
Let’s go back to the ambitious approach post WW2, and give ourselves the time to realise massive goals, rather than chasing our tails in pursuit of short term profits.
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