Deming Institute

JANUARY 9, 2017

In Warren Buffett’s 2010 annual letter to shareholders he mentions the advantage Berkshire Hathaway has because it doesn’t focus on short term results: At GEICO, for example, we enthusiastically spent $900 million last year on advertising to obtain policyholders who deliver us no immediate profits. In Profit Beyond Measure by H.

Short-term 28

Short-term Long-term Deming Management 28

Harvard Business Review

OCTOBER 11, 2011

Consider ThedaCare , a healthcare system in Wisconsin, which eliminated its budgeting process in 2010. According to ThedaCare's chief financial officer, Tim Olson , top management viewed it as a significant waste of time. But the tight-fisted approach winds up being wasteful, and there is a better way.

Budgeting 11

Budgeting Chief Financial Officer Cost CFO 11

Harvard Business Review

AUGUST 6, 2014

In May of 2005, Yahoo CEO Terry Semel, cofounder Jerry Yang, corporate development executive Toby Coppel, and I — I was then chief financial officer of the Silicon Valley internet company — went on what would turn out to be a fateful trip to China. The company was owned by management, venture capitalists, and SoftBank.

Chief Financial Officer 10

Chief Financial Officer Operations Learning-by-Doing IPO 10