The future depends on what you do today.


Businesses operating in a capitalist market economy need to do dual planning. They must keep their eye on the short-term picture, making sure to achieve their growth and profit objectives. And they must implement their long-run investment plan for profitability, growth, and sustainability.

Both privately held enterprises and public utilities can do well with dual planning. Privately held enterprises are usually family-owned, and the plan is to pass on the business to children and grandchildren. The family avoids issuing public stock and therefore does not owe the public any quarterly or annual report on the company’s revenue and profits. The ...

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