When CEOs get involved in product development, there’s a good chance the company will gain a competitive edge. Companies led by CEOs who engage in product development tend to see
25% higher growth than companies with uninvolved leaders. Now that customer expectations are higher than ever and fierce competition is everywhere, it’s essential for companies to pursue every possible advantage.
When you’re a CEO, here’s why you have a duty to provide your input on product development and production.
1. Quality is directly tied to alignment with the company’s vision
It’s easy for a CEO to declare a vision at a meeting and walk away, but the ones who actually create growth and customer loyalty are the ones who ensure that vision is embedded into every aspect of the company, including product quality. But product quality isn’t just about materials and durability. It’s also about the design and customer experience. When CEOs shape product development from the early stages, it ensure that all features and the product design align with company goals.
Sometimes, aligning a product with the company’s vision comes down to addressing overlooked details that only a CEO will call out. For example, if you make a product that requires a removable film (like a peel-off face mask), you can use average materials that will be good enough. But if the goal is to deliver a premium experience, a higher-grade polyvinyl alcohol like
KURARAY POVAL can make a huge difference and improve the overall customer experience.
The level of quality customers experience directly influences sales and brand perception. Improving the quality of just one component is a strategic move that can align a product with the company’s vision.
2. CEOs inspire teams to innovate
Successful product development relies on creativity, and a CEO who cultivates open, intentional dialogue has the power to inspire teams to innovate.
One study out of China shows that CEOs who engage with their teams significantly boost the team’s willingness to speak up, which leads to better innovation and product breakthroughs.
Just by asking teams “what could work better,” a CEO contributes to building a culture where mistakes are flagged early and creativity is highly rewarded. Their involvement stimulates new thoughts, deeper insights, and stronger collaboration between team members and departments. Engaged CEOs inspire better ideas, provide early warnings, and foster creative problem solving.
3. CEOs can ground ideas in market validation
Not all products successfully reach a
market with impact. But failure isn’t always caused by a bad product. Sometimes the best products flop because there’s no actual market. When CEOs share ideas, it’s not just another suggestion. CEOs involved in product development from the beginning can ground ideas in market validation, solid strategy, and research.
Products developed with top-level input tend to reach the market faster and with fewer setbacks.
CEOs bring clear direction, better resource allocation, and early-stage alignment to the product development process. Great ideas are important, but without CEO guidance, those ideas may not get off the ground. CEOs can help ensure a product lands in the right market, at the right time, with maximum impact.
4. CEOs know the company’s vision
CEOs know exactly where the company is going, and it’s their job to help steer products in the same direction. For example, if a company is determined to make the safest bike helmets, it’s the CEO’s job to make sure the helmets meet all safety requirements in real-world tests. While other team members might let things slide if they
notice an issue, a CEO will point out exactly where a product doesn’t live up to the company’s vision and steer things back on track.
5. CEOs foster effective collaboration
In complex organizations, departments tend to work in silos, and team members often lose track of the company’s vision. Without cohesive alignment, the end product can feel disjointed and miss the mark entirely. That’s where CEOs work their magic.
CEOs play a critical role in breaking down silos by staying actively involved in all departments. They ensure that all teams are aligned and are working toward shared goals. Just their presence encourages collaboration and keeps teams focused and aligned. The end result is a product that better fits the market and aligns with the company’s vision.
The CEO’s involvement in product development is essential
Aligning product development with a company’s vision requires engineers, designers, product managers, and the CEO. From embedding brand values into product quality and validating ideas against real markets, a CEO can transform product development from a task to check off into a strategic advantage.
Photo by SEO Galaxy; Unsplash
