In this Inc.com article, Peter Cohan interviewed Harry about how executives can win the support of their companies’ boards of directors for critical growth initiatives:
“Companies need to grow to stay relevant. To do that, business leaders must persuade their board of directors to give them the capital, technology, and human resources they need to implement their growth investments.”
So how should you as a leader (or aspiring leader) go about doing this? Here are five steps you can follow:
- Aim to meet short-term goals and while pursuing your long-term mission.
- Focus on a market which offers growth and profit potential.
- Know how the growth investment will boost your market share.
- Use net present value to set an acquisition purchase price.
- Make sure your growth investment fits your company’s culture.
For details on each of the steps, read the full article here.
Photo credit: Getty images
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