Presenting a Counterpoint to Short-term Expectations
In a Perspective titled "Profit Center Ethics," Bruce Henderson enumerates the unique ethical challenges facing managers who are custodians of the long-term financial interests of their shareholders, yet are often punished when short-term expectations are not realized.
BCG Insights & Highlights
- BCG publishes 15 Perspectives. Bruce Henderson continues the tradition of writing not just about business strategy, but also about affairs of public interest including organized labor, trade policy, and monetary policy
- BCG's Perspectives on Experience is published in French
- Consultants = 130
World News
- The United States expands the war in Indochina into Laos and Cambodia
- The U.S. ping-pong team visits Mainland China, opening a new era in Sino-American relations
- The U.S. Supreme Court rules that busing students to schools outside their neighborhoods is legal
- The United Nations recognizes The People's Republic of China and expels Nationalist China (Taiwan)
- The Roman Catholic Church and the Church of England end a 400-year-old dispute by agreeing on the essential nature of the Eucharist
- The liquid crystal display (LCD) is invented
- Japan initiates a self-imposed quota on its textile exports to the United States
- Intel invents the single-chip microprocessor
- The 372,400-ton tanker Nisseki Maru is launched in Japan. It is the largest ship built to date
- The U.S. devalues the dollar. Japan and many European nations revalue their currencies upward
- Britain changes its currency to a decimal-based system
