What can you learn from other CEO’s facing the dual challenges of maintaining growth and profitability? What issues are you likely to face and how can you best resolve them?

Management for growth is a complex process with many variables. It requires many changes – and much flexibility – along the way. I can speak from personal experience in building J.P, Industries, Inc. in just ten years to a Fortune 500 industrial corporation. I also want to share with you the results of a research study conducted by Dr. L.(Hendrickson) Uhlaner, formerly with Eastern Michigan University, under my guidance on the question of growth management and published in a book. Borrowing from the classical goal approach, firms depend on financial viability to survive and grow. A financially viable firm can pay its bills when they are due and operate at a profit, simple enough. But achieving financial viability is much more complicated than merely determining objectives for profit and production of goods and services and then setting out to achieve these goals. We must define the issues that we must manage in order to assure financial viability – these include market strategy, work flow, resource acquisition, human relations, resource allocation, public relations, and technical mastery. Continue reading →