As the CEO of Newsweek, Dev Pragad was looking to equip himself with the tools required to take his company to the next level and expand his own leadership skills. Dev found the Owner/President Management (OPM) program at HBS Executive Education to be the program to help him address the unique challenges and needs of being a business owner. Below, Dev shares his perspective on the OPM program and how it changed the way he leads.
What brought you to the Owner/President Management Program (OPM)?
As an entrepreneur for fifteen years, I recognized the benefits that a formal business education could bring. My background in Engineering, with a Bachelor's and PhD in Electrical Engineering, provided a solid foundation, but I sought to complement it with an executive education program tailored to my unique requirements as an owner and CEO. Most business education programs are designed for graduates or executives aiming to climb the corporate ladder, which often do not address the specific challenges or needs of business owners. The Owner/President Management program at Harvard Business School (HBS) was a perfect fit—exceeding my expectations and significantly enhancing both my professional and personal growth.
Since completing OPM, how has the program maximized your leadership impact and taken your company to the next level?
The OPM experience was transformational, enhancing my leadership and emphasizing the importance of empowering leaders within Newsweek for the company's transformation. The program instilled a profound sense of humility, highlighting that sustainable growth comes from empowering executive leaders. Since I began OPM, our company has tripled in growth.
Looking back, what aspects of OPM have been the most useful to you? Are there any case studies or key learnings you often refer to?
Professor Ananth Raman emphasized that the program teaches two crucial attributes: confidence and humility. I couldn’t agree with him more. The high-quality environment at HBS, including faculty, facilities, and peers, fosters immense learning and growth. Interacting with accomplished entrepreneurs instills a profound sense of humility.
Unit 1 was particularly impactful. The first experience at HBS is always very special, and the wealth of high-quality knowledge I gained was truly impressive. Among the many case studies, the one that stood out as transformative was the Danaher case study, which highlighted the power of continuous improvement. Its principles have had a lasting impact, and we continue to discuss and implement its lessons at Newsweek even four years later.
Professor Suraj Srinivasan introduced us to Objectives and Key Results (OKR) and helped us implement them at Newsweek. The OKR journey was remarkable, providing us with a measurable management framework to govern and execute ambitious plans. He is still a close advisor to me and the business. There were many great professors who shaped my thinking, including Professor Lynda Applegate, whose support and mentorship I will forever be grateful for; Professor Boris Groysberg, whose leadership sessions were some of the best I’ve ever seen; Professor Rafaella Sadun for her brilliant sessions on strategy; and Professor Kevin Mohan on negotiations, to name a few.
What kind of professional growth did you experience at OPM? Did it change the way you lead at work?
The OPM program significantly enhanced my professional growth in several key areas:
Strategic and Ambitious Thinking:
OPM sharpened my strategic thinking, enabling me to craft long-term strategies for Newsweek's vision and sustainable growth. It encouraged bold, ambitious thinking, inspiring me to set higher goals and pursue innovative solutions.
Leadership Development:
The program transformed my leadership approach, emphasizing the importance of listening more and speaking last. The analysis of JFK's leadership evolution resonated with me, fostering a culture of trust and collaboration within Newsweek.
Management Framework:
We learned several management frameworks, with OKRs being particularly transformative. They provided a clear and measurable framework for setting and achieving ambitious goals, which we continuously apply as we grow.
Operational Excellence:
I learned the importance of executing simple ideas to perfection over poorly executed great ideas. This focus on operational excellence has driven efficiency and high-quality outcomes at Newsweek.
Creativity and Partnerships:
The program encouraged creativity and strategic partnerships, opening new avenues for growth and expansion.
Overall, OPM enhanced my strategic skills and fundamentally transformed my leadership style, equipping me to lead Newsweek with greater vision, effectiveness, and resilience.
Did you experience any personal growth by attending OPM?
Attending OPM was not only a professional journey but also a deeply personal one. The program challenged me to reflect on my values, my approach to leadership, and my long-term goals. This introspective process allowed me to gain a deeper understanding of my strengths and areas for improvement. I emerged from OPM with a renewed sense of purpose and a clearer vision for both my personal and professional life. The diverse interactions and friendships formed during the program contributed significantly to my personal growth, offering new perspectives and enriching my life in meaningful ways.
Can you speak about the importance of the OPM network?
The OPM network is invaluable and unparalleled in its reach. Being in a classroom with peers whose companies generate significant revenue is a unique experience. I am humbled to have been classmates with such accomplished individuals from around the world. The peer learning from this group provided diverse perspectives and insights that profoundly impacted my professional growth. The global OPM community is exceptionally strong; we co-invest, advise, and open doors for each other continually. This network has become an essential resource for professional collaboration and support.
Do you keep in touch with classmates from your OPM cohort?
I maintain regular contact with many of my OPM classmates. We've formed a close-knit group that meets frequently, both virtually and in person, with some connections evolving into lasting family friendships. We make it a point to meet annually with our living group in different parts of the world, deepening our bonds and sharing experiences. No matter which country I visit, there's always an OPM alum willing to meet and spend time with me. This strong bond and sense of trust within the OPM community is remarkable, fostering a supportive and collaborative environment that extends far beyond the classroom.
How would you summarize the program’s value to others who are considering applying to OPM?
The OPM program is an unparalleled investment in personal and professional growth. It offers cutting-edge business knowledge, practical insights, and a powerful network of peers. For any business owner looking to elevate their leadership, drive company success, and make lasting connections, OPM is an invaluable experience that I highly recommend.