Rebecca Bannan, Governance and Organisational Effectiveness, and Tim Mitchell, Global Head of Governance Consulting at Willis Towers Watson, describe how investors should think about the inter-related issues around governance, investment, operations, clients, people and business across different time horizons. How much attention should those at varying levels of seniority devote to these timeframes? We also discuss some specific examples over the short and medium term, including taking into account "externalities" and "having the right people on the bus".