Winning Now, Winning Later: How Companies Can Win in the Short Term While Investing for the Long Term

Cote, executive chairman of electrical equipment provider Vertiv Holdings, seeks to dispel the false dichotomy between quick revenue gains and long-term financial health in this usefully pragmatic but overly ego-driven study based in his former position as Honeywell CEO. Framing himself as the company’s savior, he describes arriving in 2002 to find Honeywell foundering and himself surrounded by buffoons and incompetents. Cote lays out his strategy for turning the company around in 10 points, such as “take control of the downturns,” in part by learning from past financial crises; “get and keep the right leaders—but not too many of them”; and “go big on growth,” in part by making careful use of metrics. The advice is both broadly applicable and grounded in specifics—on metrics, he describes how a dictum to derive 50% of sales from new products might incentivize salespeople to simply reintroduce the “same old products with slight modifications.” However, the near-glee with which he describes his former colleagues’ foibles leaves the reader with the unsettling impression that his primary interest is in taking potshots at his former company. This vengeful tone detracts from the useful whole and results in a disappointing business guide. (July)