Wall Street’s Pyrrhic Victories: The Road To Perdition For Immediate Gratification!
Ever since the first Industrial revolution, which brought about many benefits to societies and humanity as a whole, humans have been subjected to less burdensome chores and work activities.
Initially, these improvements were mostly limited to physical activities but, eventually, they included mental activities as well which lead to a reduction of our critical-thinking capabilities and the dumbing of humanity as a whole in terms of depth of knowledge and culture.
People around the planet, mostly in the ironically called “developed countries,” have been pushed to the very limits of immediate gratification, short-terminism, and shallow thinking. Thus, sacrificing discipline and patience, two key ingredients that almost guarantee a brighter future.
The recent focus, and some times even frenzy, about quarterly-profit results points to this ever-growing need for immediate gratification without any consideration for the long-term performance.
For too long, the focus has been on ‘effectiveness,’ i.e., hitting the earning estimates every time, regardless of the costs, especially regardless of the long-term costs, while foolishly celebrating every pyrrhic victory!
Obviously, those focusing on their immediate gratification have been, and will continue to be, defeated by those who have set their eyes on the longest-term perspective they can envision. Amazon is perhaps the best example.
The road to perdition is filled with good intentions in the short term, but businesses are not supposed to exist for the short term only.
One of the main problems of focusing on a short-term view is placing effectiveness on top of efficiency and, therefore ensuring only pyrrhic victories.
This is precisely what most people, with very few exceptions, have been doing in Wall Street for too long already. Well, they are certainly setting themselves up for one more terrible awakening.
Instead of envying or hating Amazon for being so brilliantly obsessed about customer delight and satisfaction, businesses should emulate its wisdom and focus on their own long-term vision by ensuring, above all, an organizational structure based on moral authority and conducive to ideal-seeking behavior, as opposed to goal-seeking behavior.
Doing otherwise, as they have been doing already for too long, will only ensure their arrival to perdition before they can begin to imagine.
To The Health Of Those Making A Better World For Everyone By Satisfying One Customer At A Time & For Having Employees With A Day-1-Always Attitude!
Hat’s off to you guys!
JC Wandemberg Ph.D.
President & Founder
About the author: Dr. Wandemberg is an international consultant, stocks trader, professor, and analyst of economic, environmental, social, managerial, marketing, and political issues. For the past 30 years Dr. Wandemberg has collaborated with corporations, communities, and organizations to integrate sustainability through self-transformation processes and Open Systems Design Principles, thus, catalyzing a Culture of Trust, Transparency, and Integrity.