Leadership

Acknowledge, Then Play With Short-Term Rewards

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Executive Summary

Great companies are started by people who gave up their day jobs and made a tremendous sacrifice. The most admired organizations and societies are built over time through the endurance and fortitude of a committed membership. To make bold ideas happen, long-term rewards must take priority over short-term rewards. The ability to do this is called vision. However, when it comes to overpowering our short-term tendencies - the innate desire for a quick payoff - vision doesn't always cut it. Society conditions us to think in the short-term; forces such as risk and reputation encourage us to favor near-term assurances over long-term unknowns.

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