Principle 1
Base Your Management Decisions on Long-Term Systems Thinking, Even at the Expense of Short-Term Financial Goals
The most important factors for success are patience, a focus on long-term rather than short-term results, reinvestment in people, product, and plant, and an unforgiving commitment to quality.
—Robert B. McCurry, former Executive VP, Toyota Motor Sales
Over the last century, the world has moved in the direction of capitalism as the dominant socioeconomic system. The prevailing belief is that as individuals and companies pursue their self-interests, the invisible hand of supply and demand will lead to innovation, economic growth, and the overall economic well-being of humanity. The evidence is clear that money motivates business ...
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