Long-termism pays off for business and society



The U.S. economy might have grown by an additional $1 trillion and generated five million more jobs in the last decade if all companies had performed as well as those focused on 10- and 15-year business goals rather than immediate profit making.

A new study by McKinsey Global Institute and FCLT Capital that tracked financial performance between 2001 and 2015 found that forward-looking companies delivered 36 percent higher earnings and 47 percent higher revenues.

They also weathered the financial recession better.

FCLT stands for Focusing Capital on the Long Term; the firm is backed by McKinsey, BlackRock, Dow Chemical and Tata.

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