They think long term but they don't predict the future very well. And they don't spend money when they don't need to. They have missed many important developments but have usually been able to play catch up by leveraging their desktop domination. This usually keep them in contention with a dodgy product long enough for them to either get better or starve the competition to death.They thought Netscape was dead and they didn't see Google at all so moved focus away from IE. As always they realised the danger too late. IE had fallen behind so they dragged up something from some backwater development team and threw money at it to make Edge. It wasn't enough. They have given up and gone with something that might keep their name in the game - a rebranded Chrome. Anything so long as the aforementioned average Jane/Joe don't get start thinking that Computers and Microsoft are not the same thing.