Organizations are being blamed for their short-term result orientation rather than long-term societal welfare. Is it true?
Family businesses, community associations or large international corporations all make some or the other difference to the functioning of a society. Our shortsighted motives are more concerned with immediate results and short-term goals. Business relations should learn to look beyond them.
Business relations can be interpreted as those with customers, vendors, suppliers, distributors and/ or promoters.
Looking beyond the immediate results implies gathering insights of customer habits, preferences and striving for excellence. This helps the business in the long term.
Even a small family business is concerned more about the short-term goals and results than the long-term relationship and commitment. This narrow focus leads to a compromise with the current standards and hence affects the quality and performance of the business.
Schools can be taken as examples of community associations. A school should be concerned more with the long-term goal of development of its students rather than the immediate results like fees and profits.
Looking beyond short term goals lets the organization shift its focus on broader issues like ethics, performance, quality etc. that would help in achieving success that is ever-lasting rather than immediate gains that might be shattered with the slightest blow.
Businesses cannot succeed in building empires without getting rid of their shortsighted motives. For example, it took decades for Waltons to build the empire of Wal-Mart or Osgood and Taylor to establish the umbrella of Citibank or Tatas to build the empire of Tata industries. They would not have been successful had their focus been short-term success. Instead, they kept striving for about a hundred years to emerge strongest and toughest.
Hence, the actions and relations of any organization should not be confined to immediate results and short-term goals. Looking beyond the immediate results will be of great help to the business relations.