Other companies better learn that lesson, or they will follow suit
Briggs & Stratton is our canary in the coal mine. The fundamental problems that pushed the 100+-year-old company into bankruptcy will devour many other Midwestern businesses if we don’t begin steering differently.
Some want to blame COVID-19, convinced it’s the perfect villain, the reason for Briggs’ collapse. But as Vincent Shiely, who ran two of Briggs’ product groups in the early 2000s, said in a recent LinkedIn conversation, “It’s more complicated than COVID.”
“There are many who say that under a different path this would not have happened,” added Shiely, now a partner at Lubar & Co.
That different path is called innovation...
Ken Notes: An interesting read and some very good points. I believe we can not overlook foreign competition and price points as a strong factor in the collapse as well. I refuse to shoot the wounded, and want to thank Briggs & Stratton for all the good they did for Wisconsin, they will be missed.
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- - Volume: 8 - WEEK: 32 Date: 8/6/2020 7:29:22 AM -