At the heart of all the tactical issues, the strategic needs are the same.
For Industry Week
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First quarter is over, and financials are being reported. Board season is in full swing.
What is interesting to me is how all the company boards I serve require different decisions to be made. Yet, at the heart of all the tactical issues, the strategic needs are the same.
Let me explain by starting with the tactical issues at hand:
1. The development of a companywide bonus program
2. The succession of an executive leader into a vice president role
3. A retiring company owner searching for new talent required to grow the business
4. Identifying a new board member with the expertise required for the next business cycle
All of these businesses are in different industries. But do you see the underlying strategic themes? Each business is evolving and growing.
I think of this phenomenon as a business “growing up.” In my case, the companies are transitioning from one generation of owners/leaders to the next. And what got them here will not be what gets them there.
