Business needs to think about a new model that bases performance metrics around long-term measures.
A couple of days back, I wrote a piece challenging agencies to think about long-term actions.
So, it was very timely that today I got an email from McKinsey highlighting their thought pieces on Long Term Capitalism.
Amongst the articles, was a piece by Paul Polman, Unilever’s CEO encouraging business to be more long-term in its thinking.
He suggests that business needs to think about a new model; Unilever has already announced to the financial community that it doesn’t want to be judged on quarterly profit performance and no longer reports on this basis, it has also shifted it’s internal performance metrics around long-term measures.
Polman believes this new model demands a new type of thinking that’s prepared to face up to the big challenges that lie ahead.
In his piece, Polman recognizes the challenges that stem from population growth in the developing world and its impact on resources and energy use.
(Continue reading here.)