Respironics:
A case on Growth Strategy
"We are honored and thankful to our customers and the respiratory profession for bestowing us with yet another milestone, our 10th Zenith Award. We look forward to a tremendous 2007 as we continue to bring innovative products, outstanding service, and valued solutions to the market."
- John Miclot; CEO of Respironics
It was a perfect evening on December 12th, 2006 when John Miclot stepped up to the podium at the International Respiratory Conference of the American Association for Respiratory Care in the extravagant Las Vegas, Nevada to receive its 10th Zenith Award. The award recognizes companies based on the quality of their equipment, service record, accessibility and helpfulness of their personnel, and truth in advertising. This award signifies that members of the association have voted Respironics as one of the top 5 of 400 companies in the sleep disorder industry. The election process makes the award one of the most prestigious in the respiratory care profession.
With so much hype surrounding Respironics' past performance, new CEO John Miclot is in no position to let his stakeholders down. Some time to assess the future and develop a strategy for Respironics to exceed past performance is exactly what Miclot needs. Under the founder and former CEO; Gerald McGinnis' leadership, Respironics was able to tackle growth opportunities in the past. However, the question to ask is:
Have the growth opportunities been tackled fully thus increasing value for stakeholders at an optimal level?
Or
Does the Board of Directors need to replace the existing executive te ...