Managers instinctively think about the threat of competitors because they can push down prices and lower profits. But there are other threats to profits that managers should not ignore. One of these is the threat that suppliers can pose. This idea was formalized and called “supplier power” by Harvard economist Michael Porter in 1979. The idea is that even with little competition a firm can still lose profits to a supplier that has significant bargaining power. But the situation gets even more complicated when the people bearing the supplier power are its own star employees. What should a company do about that?
You climbed all the organizational rungs and then hit the ‘Now what?’ question. Staying motivated is hard and here’s what can you do about the situation.
In a high-growth environment, building the right culture is tougher than you think. The third article in our series on hypergrowth will show you how to go about building your company’s culture when everything is moving at a dizzying pace. For the other articles in this series, click here A lot of things must […]