Leaders who understand the diversity of business processes and are able to navigate the pain points of the environment are best suited to support the overall goals of the organization. Tom Bluth, Former CEO at Caterpillar Inc., sat down with the students inside Northwestern’s Master of Laws (MSL) program. to explore how real-world knowledge can propel employees on the path to leadership. Professionals who combine business, legal and technical knowledge are uniquely prepared to solve complex projects and have a thorough understanding of the product development life cycle.
Product development involves many different tasks, but these tasks often overlap, creating problems that intersect (and sometimes, collide) with each other, and continue to do so. It requires a middleman – a person with multi-disciplinary training – to integrate and manage the many layers of a product’s development, including activities such as research and development, engineering, reducing risk, intellectual property, business strategy, and legal issues. . Here are some excerpts from Bluth’s talk on how effective leaders can be:
- To be effective, the owner must understand and control the transactions. As with most transit-related traffic accidents, many poor judgments can be made in the time between critical actions. One of the strongest areas is business and law.
- Leaders who understand how different functions work together are more successful than those who don’t. Some leaders see diversity as a barrier in every endeavor, while those who see all core roles as strategic alliances are more likely to grow and avoid major challenges.
- No matter how high your level, don’t be afraid to get your hands dirty. “Go and see” what’s going on in your organization. Explore the different activities necessary to develop your product.
- Use what you know, but be smart enough (and flexible) to know what you don’t know. Don’t be afraid to ask people who are experts in their area – this will help you learn, and those in your neighborhood can share what they’ve learned – all to the benefit of project
- The global market is complex – each customer and culture must be approached with an open mind and a willingness to be flexible. When you enter a new market, take the time to learn about the culture and competitive environment of that market. Many business practices do not translate well across borders; Good owners respect local culture and try to understand where their customers come from.
- Customers should be friendly. Companies need to be aware of their customers throughout the product development cycle.
In short, leaders are better when they look at the product development life cycle from all angles and understand what each business process does. Programs like Northwestern’s Master of Science in Law (MSL) equip future leaders to look at the big picture and explore career areas (including law) that are possible. improving processes and avoiding issues.
Do you want to be a transition leader? Consider adding your business expertise and Northwestern University’s Master of Science in Law (MSL). to be more professional.