In 2013 the management consultants McKinsey and Company and the Canadian Pension Plan Investment Board surveyed 1,000 board members and senior company executives around the world to assess how they ran their businesses.22 The majority of respondents said that the pressure to generate strong short-term results had increased during the past five years to a point where managers felt obliged to demonstrate strong financial performance. But while roughly half of the respondents claimed to be using a time horizon of less than three years in setting strategy, almost all of them said that taking a
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