An important element of market success is domain knowledge. It means all the relevant business expertise that gives a business the edge. Essential but not enough component of profitability.

Why?

Doing the homework of know-how is necessary except the economic model based on opportunism. Unfortunately, domain knowledge is rarely associated with business knowledge. Steve Jobs, Lee Iacocca and Carlos Tavares are among the very few examples.

The typical situation is when there is a gap between in the field expertise and business acumen. The million dollar question is how to connect them.

Here comes the CEO into the picture, he must show the following example: to have the best possible knowledge of both worlds. Without effective management knowledge and first-rate expertise in the field, business results will deteriorate. The CEO should fill the void, if there is one.