Do Policy Makers Think Long-Term?
The RAND Pardee Center for Longer Range Global Policy and the Future HumanCondition seeks to improve understanding of how today’s actions can enhancehumanity’s long-term future. In so many cases, decision-makers focus only onthe near-term. Thus, we are compiling a list of examples where public andprivate sector organizations explicitly acted on a long-term view. As ourdefinition, we say:
Long-term decisions occur when reflecting on potential events decades or more in the future causes decision makers to consider and perhaps choose near-term actions different than those they would otherwise pursue.
For example:
Policies to Address Climate Change: National and local governments worldwide have promulgated plans to significantly reduce or eliminate their greenhouse gas emissions by mid-century in order to prevent damages from climate change that would unfold for decades into the future. While the pace of action has only accelerated as the present-day impacts of climate change have become more apparent, policy makers’ statements, and the importance of long-term environmental assessments such as those produced by the Intergovernmental Panel on Climate Change (IPCC), suggest that governments’ near-term actions are influenced by the anticipation of potential events decades in the future.
U.S. Constitution: As made clear from records of the debates at the Philadelphia convention, many provisions of the U.S. Constitution were influenced by expectations about how the new country might grow in the future. For instance, the bicameral legislature, with membership of one branch based on population and the other on states, was intended to preserve the rights of the original small coastal states as the country expanded into the interior of North America.
Treaty of Versailles: Based on their stated visions and goals, the leaders of the victorious Allied powers all sought, ultimately unsuccessfully, a peace settlement that would prevent another continental war for decades to come.
Not all decisions with long-term impacts represent long-term decisions. For instance, some businesses generate profound long-term changes through a series of steps each motivated entirely by near-term considerations. Bill Gates created one of the world’s largest companies over the course of several decades, but near-term business goals explain all his key near-term choices.
Please suggest your own examples of long-term decisions
We would very much appreciate any examples of past long-term decisions, successful and unsuccessful, and your brief assessment of why these decisions qualify as long-term. We will post the results of this query on the Pardee Center website. You may send suggestions directly to Robert Lempert, Director, RAND Frederick S. Pardee Center for Longer Range Global Policy and the Future Human Condition at: Robert_Lempert@rand.org
Thank you.
For our current list of long-term decisions see: Examples of Long-Term Decisions
We welcome your input. Send suggestions for links and other ideas to lempert@rand.org.
FAQs
Long-term decisions occur when reflecting on potential events decades or more in the future causes decision makers to consider and perhaps choose near-term actions different than those they would otherwise pursue.
What is an example of a long-term decision-making business? ›
Examples of long-term decisions include replacing manufacturing equipment, building a new factory, or deciding to eliminate a product line.
Can you tell us about a time you adopted a long-term strategy despite being under pressure to implement a short-term fix? ›
Despite the pressure to implement the short-term fix and resolve the issue swiftly, I decided to advocate for a more comprehensive, long-term strategy that would address the root cause and prevent similar issues in the future. To manage stakeholder expectations, I initiated transparent and proactive communication.
What are examples of biggest decisions? ›
Choosing a career, pursuing an education, choosing a life partner, managing finances, and taking calculated risks are just a few of the major decisions we will face in life. It's very important to keep in mind that the decisions we make in life are not always set in stone.
What are long term actions? ›
A long-term goal is something you want to do in the future. Long-term goals are important for a successful career. A long-term goal is something you want to accomplish in the future. Long-term goals require time and planning. They are not something you can do this week or even this year.
What makes a good decision? ›
A high quality (good) decision is based on a methodical analysis of the available information and on sound reasoning. The goodness of a decision (its quality) is a measure of how well informed the decision maker was when they chose between the options available to them.
What are long term decisions also known as? ›
The correct option is B Capital budgeting. The long term investment decision is also known as capital budgeting decision.
How to consider long-term impact in decision-making? ›
You can use tools such as impact analysis, risk analysis, and stakeholder analysis to help you weigh the short-term and long-term consequences of your decisions.
What are the methods of long term decision-making? ›
Long-term decision making will often involve the use of discounted cash flow techniques. Short-term decisions often involve looking at contribution. Decision making with limited or scarce resources. Incorporating risk and uncertainty.
What is your long-term goal interview answer? ›
Sample Answer #1
My long-term goals are to pursue opportunities that help me grow. Progress is the key. I want to see myself extracting every single drop of experience as I move ahead. These are not just goals but a guideline that I have to follow.
I immediately created a detailed plan outlining milestones, allocated resources, and set realistic deadlines. By prioritising tasks and maintaining open communication with the team, we were able to work collaboratively and achieve the project's goals despite the pressure.
Can you tell me about a challenging situation you overcame at work? ›
Some examples of situations you can discuss include: A time when you dealt with a lot of customer complaints and how you rectified the issue. A time when you had to work long hours to meet a deadline. A time when you had to deal with a difficult colleague when working on a project.
What is short term vs long term decision? ›
Long-term thinking requires present, objective analysis of our choices now. Short term thinking doesn't necessarily think about the repercussions of the future. It wants that dopamine hit now.
What is an example of a long term investment decision? ›
Long term investment decision involves committing the finance on a long-term basis. For example, making investment in a new machine or replace an existing one or acquiring a new fixed asset or opening a new branch, etc.
