tec5USA, an 8-figure subsidiary of a public company, diversifies its client base across multiple industries to reduce dependency on specific markets. They expand into new geographic areas to spread risk and capture growth opportunities. This approach helps them maintain 7-figure annual growth despite economic uncertainties, demonstrating the power of market diversification for companies.
tec5USA forms strategic partnerships with universities and research institutions to co-develop new solutions and expand market reach. They partnered with UGA for virus detection, and with Rutgers University and RCPE Graz for pharma projects. This strategy allows them to reduce financial risks while enhancing product development, showing how companies can leverage partnerships to compete with larger competitors.
By Sebastian Huelck | SEP 11, 2024
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HBR – Effective strategy communication requires providing context, which leaders can achieve by presenting rejected alternatives, linking strategic decisions to the company’s purpose, and involving employees in strategy development. Examples from Edward Jones, Roche, DPG Media Group, Premium-Kollektiv, and Bridgestone highlight these approaches. These methods ensure employees understand and engage with the company’s strategic choices, enhancing overall execution and alignment.