Contributed by Executive Certificate holder Charles Compo
In Developing and Managing a Successful Technology and Product Strategy at MIT Sloan School of Executive Education, Professor Rebecca Henderson asked the question, “Why even have a strategy?” The answer was surprisingly simple—to help us make choices. Effective strategies answer three key questions: How will we create value? How will we deliver value? How will we capture value?
Over the last twenty years I've had the unique experience of having interviewed and met with more than a thousand CEOs of privately-held middle market companies. These are companies spanning a variety of industries, from industrial manufacturing to food distribution to software and services, earning between $10 million—$500 million in annual revenue. Most of these companies are founder owned, or multi-generational family owned businesses.