Re: Leadership and Personality LO2796
Thu, 14 Sep 1995 09:46:51 +0000 (AES)

Replying to LO2755 -- Wrote:
| (snip)
| Business companies have very different time frames.<<<
| (snip)
| Wall Street just won't give them enough time to work on this
| stuff and most won't try it.

I think you've identified a very important factor here. Many people
underestimate the effect on planning horizons and decision-making
created by the pressure of quarterly profit reporting to the stock
market. This scrutiny on whether profits are better each 3-months
really shortens the time frame.

I know of many successful private companies who choose to stay private,
and thereby deny themselves access to growth capital, specifically
because becoming a public company would make it impossible to retain the
long-term planning/decision-making time horizon that has made them

Bob Nordlinger
Department of Management
Monash University
Melbourne, Australia