“Do more with less.” These are familiar words to the leader of any mid-market company. Unlike their Fortune 500 brethren, they have limited resources and budgets. Yet their goals and expectations are no less ambitious. However, few are truly making a larger impact because they haven’t yet mastered the principles of “influencing beyond their size.”
At a time when corporate balance sheets are rock solid, interest rates remain enticingly low and the deal environment is booming, perhaps it’s not surprising to learn that some of the most ready buyers of private companies are in fact, private companies themselves.
CEOs and owners of mid-market firms collectively display some characteristics that influence their views of the future and expectations for the economy, their industries and even their own companies, and differentiate them from the viewpoints of their larger and smaller counterparts.
Think about a time when you received amazing customer service. Now think about how rare it was that you experienced that level of customer service. In this day of social media and the omnipresent “review” of businesses and services, one would think companies would do their best to provide top-notch customer service at every turn. Yet it’s surprising how few companies really take the time and effort to provide service outstanding enough to increase customer loyalty.
Women are becoming majority owners of midsized businesses at a breakneck pace. Their rate of ownership grew at one-and-a-half times the national average between 1997 and 2014, according to the 2014 State of Women-Owned Business report commissioned by American Express OPEN.
Many mid-market business owners plan to expand globally, but feel constrained, saying they lack the tools to manage a global workplace. According to a recent ADP study, two in five midsized business owners say globalization has affected how they conduct their day-to-day business.
The middle market contributes vitally to our economy, whether it’s being responsible for trillions of dollars worth of output or creating millions of jobs. For these businesses to continue to grow, however, business leaders need to adapt to today’s dynamic environment.
Middle-market companies are leading job growth, employing more than 50 million people and making a contribution of nearly $6.2 trillion to the U.S. economy, according to the inaugural Middle Market Power Index by American Express and Dun & Bradstreet.
If the U.S. middle market—which employs 32 million people—were a country, it would have the 4th largest GDP in the world, according to commercial lender CIT. In addition, it takes in more than $6 trillion in revenues and creates 25% of all U.S. jobs. Based on its size, it would not be difficult for the middle market to effect change, and when it comes to corporate taxes, that’s exactly what the collective group is trying to do.
A recent Deloitte survey asked middle-market executives to list their main impediments to U.S. growth. Rising healthcare costs came in second, after government budget challenges. And these increasing costs are having a challenging effect on midsized firms’ overall margins.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
