Is this directed at a specific company, or are you just stating this generally? Some details as to why you believe this might be nice.

Suppose I'm the CEO of a company that makes fighter jets for the military...

Ok, good point.

Mostly focused for the Software industry. I think it is valid for CEO of small/medium size company, or VP Eng/General Managers in big Corporation.

I think that the reason why the software industry has been so slow (or confused) is that there are too many software execs that do not understand what they are building. They are just very good a spinning good stories to their investors or managers.

If the CEO can't use the product, they need to rely on others to - 1.) Communicate accurately the state of the product (is it good, why is it bad) 2.) Also communicate effectively both down (employees) and outwardly (partners, press, customers) the product direction.

I am not a big fan of the "rely on others" argument. There is only one maestro is a orchestra. Obviously, a good maestro with bad musicians won't be heard for long.

Actually, if you are making fighter jets, and if your CEO isn't a retired ex-air force brass, then you'd better be damn sure that your sales force are. I can't imagine an ex-newspaper tycoon having much luck selling fighter jets to the Pentagon.

Good point as well. The problem is that too many exec thinks that they do not need domain expertise because they can "rent" it.