Aaron De Smet, Mark Loch, Bill Schaninger

Companies can keep an eye on their health by regularly assessing all their business ideas and new initiatives-projects or programs to change or improve something in the business. They should evaluate these projects both by mapping the point when each would be likely to create the greatest value and by looking at whether a project involves familiar, routine work that plays to their strengths and experiences or is a novel departure, which could be riskier and consume additional resources. Healthy companies seek to keep a balance between the two and know that it is not a trade-off between the short and long terms: investing for the long term means action today.

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