Peter Compo, author of ‘The Emergent Approach to Strategy,’ discusses the chronic failures in strategic planning and how his new book aims to redefine strategy through the lens of complex adaptive systems.
Ever wondered how companies can leverage partnerships to drive innovation and deliver new value propositions to their customers? In this episode, we explore the art and science of corporate innovation ecosystems with Christine Griffin, a renowned expert in the field.
Christine unveils a powerful six-step process for crafting a winning ecosystem playbook. We delve into a compelling case study – Best Buy’s strategic shift from retail giant to home health services leader – to illustrate the power of this approach.
Discover how Best Buy leveraged acquisitions and partnerships to become a key player in the home health market. Learn the importance of understanding value creation, identifying market turning points, and mapping the ecosystem landscape. We’ll also explore how to assess financial flows, build a robust scaling path, and develop the capabilities needed for success.
This episode is a must-listen for corporate explorers and innovation leaders seeking to:
Develop successful partnerships
Drive co-innovation for customer value
Navigate the complexities of business ecosystems
In this episode, we are joined by Wendy Smith, co-author of ‘Both/And Thinking: Embrace Creative Tensions to Solve Your Toughest Problems.’ Wendy elaborates on the nuances between dilemmas, paradoxes, and tensions, emphasising that these terms are not interchangeable and revealing the psychological and practical implications of recognising and navigating paradoxes. Drawing from her personal experiences and research, Wendy illustrates how both/and thinking can be applied to career decisions, organisational challenges, and broader societal issues. She discusses the limitations of either/or thinking and the harmful patterns it can create, such as intensification, overcorrection, and polarisation. Using examples from companies like Lego and Gore, Wendy shows how balancing tradition and innovation, centralisation and decentralisation, and other competing demands can lead to more sustainable success. The conversation also delves into the four types of paradoxes: learning, performing, organising, and belonging, and explores strategies to manage these tensions effectively. This episode is essential for anyone facing complex decisions in their personal or professional life. 00:00 Introduction to Both/And Thinking 00:12 Understanding Tensions and Dilemmas 03:08 Defining Paradox and Its Importance 05:23 Embracing Paradoxes in Real Life 08:00 Conditions That Highlight Paradoxes 16:51 Exploring the Four Types of Paradoxes 23:28 Navigating Organisational Paradoxes 31:23 The Paradox System Framework 36:57 Lego’s Journey Through Paradox 45:40 Conclusion and Further Resources
Michael Nichols, coauthor of the Corporate Explorer Field Book and Director of Corporate Ventures for MANN + HUMMEL, shares insights on the challenges of inside-out innovation within corporations, emphasizing the importance of validating business models beyond core business practices.
In this extensive session with Rita McGrath emphasises the importance of continuous innovation, exploiting new opportunities, and building new competencies to stay competitive.
A conversation with Rita McGrath, author of ‘The Entrepreneurial Mindset,’ exploring principles for thriving in rapidly changing environments. McGrath shares her personal journey from industry to academia, emphasising the importance of understanding practical business applications.
Explore an engaging conversation with futurist and author Ian Morrison, as he discusses traditional organization structures and the transformation required for businesses to adapt to the ‘second curve’. He shares valuable insights on the impacts of technological advancements and changing consumer preferences on organizations, individuals, and the global marketplace. Morrison shares personal anecdotes and professional case studies to illustrate the complex yet essential process of navigating from the old curve to the new one. Tune into this insightful conversation to prepare for an exciting future.
Fit to Compete – Why Honest Conversations about Your Company’s Capabilities Are the Key to a Winning Strategy
In part 1, we set the context for the book and discuss:
- Mike’s background and inspiration for the book.
- The problem of organisational silence and how it hinders strategic execution and transformation
- The concept of strategic fitness and how it helps organizations align their strategy and culture
- The process and benefits of holding honest conversations with everyone in the organization
- The challenges and barriers of overcoming the silent killers, such as fear, hierarchy, and complacency
- The vision and courage to create a culture of corporate stewardship and continuous learning.
Find Mike here:
https://www.beermichael.com
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Welcome to part 2 of the Corporate Explorer series.
In this episode, titled “Strategy Manifestos,” join Andrew Binns as he delves into corporate exploration, sharing insights from the Corporate Explorer Fieldbook.
Brought to you by Wazoku, the Corporate Explorer series is designed to uncover the depth of insight and experience within corporations, beyond the realm of management gurus and academics. In May 2022, Andy attended a conference at Bosch that sparked the inspiration for this episode, revealing the wealth of knowledge within corporations about corporate exploration.
The episode kicks off with a discussion on turning high-level corporate statements into empowering Strategy Manifestos. Co-authored by long-time client Andreas Brandstetter, Chapter 1 explores the crucial role of manifestos in aligning senior leaders on strategic ambitions and communicating these ambitions effectively.
Andy shares personal experiences as a corporate explorer, emphasizing the importance of a clear strategy. The Strategy Manifesto, while not a replacement for detailed strategy plans, makes explicit the company’s strategic choices and provides the rationale for those decisions.
Discover the key element of the manifesto – portfolio allocation. Learn how companies can change their approach to R&D investment to focus on cross-business priorities, including areas of withdrawal or deliberate non-entry.
Moving on to the execution of the manifesto, Andy outlines five steps: developing a point of view, assembling facts and perspectives, drafting and iterating, addressing disagreements, and adapting for different audiences.
The episode concludes with five powerful approaches for corporate explorers to trigger change within their organizations. From outside-in exploration to cultivating sponsors, each approach requires time and commitment but holds the potential to create bottom-up pressure that shifts action at the top.
Tune in to “Strategy Manifestos” by Andrew Binns, part of the Corporate Explorer series sponsored by Wazoku, and gain actionable insights into driving innovation and strategy within your organization. Don’t miss this opportunity to explore the uncharted territories of corporate excellence!
For those interested in Wazoku, find Wazoku at www.wazoku.com
The ‘private lawn’ is the ability to have the time and space to plan, think and grow. For some of us, daily survival consumes all our time and energy, leaving no room for strategic thinking or planning. Few organisations carve out the time to plan, strategise and think about long-term goals and objectives.
As business leaders, creating an environment where everyone can access their ‘private lawn’ – a space for growth, planning, and forward-thinking is crucial. However, we must also plan by priority.