Balance between short-term needs and long-term strategy essential

Short-term thinking has hit the headlines in recent years as the catalyst for the recent economic crisis. As regional business continues to evolve at a rapid pace, CIMA (Chartered Institute of Management Accountants) addressed a group of financial and business professionals in Dubai today and addressed what it takes to build a successful and sustainable business over the long-term.

While a long-term strategy is essential, regional businesses must find a way of marrying their short-term operational goals to their future vision if they are to thrive in a corporate landscape that is increasingly aligned to serving the public interest, according to CIMA.

Ray Perry, CIMA executive director, says “We started the seminar today with discussing the challenging business landscape. Events over the past few years have brought new urgency to the age-old debate of how business fits into society. Companies are being chastised for focusing on their own self interest and told to focus on the long-term. Added to this are environmental and technological challenges, such as globalisation and the surge in modern communications, which can spread toxic corporate information in a matter of seconds.” Read more