The Innovation Show

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Execution in Strategy with Peter Compo Sep 14, 2024

Show notes

In this episode of 'The Emergent Approach to Strategy,' guest Peter Compo joins to discuss the complexities of executing strategy effectively, focusing on Chapter 9 from his book. Compo addresses common misconceptions about execution and its distinction from strategy, emphasizing the importance of adherence to strategy frameworks. He explores real-world examples from businesses and sports, highlighting how excellent execution requires discipline and adaptability in dynamic situations. The conversation also delves into the integration of innovation within disciplined execution, using analogies from music and sports to illustrate key points.

00:00 Introduction and Overview

00:37 Understanding Execution in Strategy

02:55 The Misconceptions of Execution

06:23 Execution vs. Strategy: A Deeper Dive

08:57 Execution in Practice: Sports and Music Analogies

11:57 Challenges and Realities of Execution

20:52 Execution in Business and Innovation

23:26 Demming's Red Bead Experiment and Its Lessons

39:15 Final Thoughts and Conclusion

Link to Peter's website: https://emergentapproach.com

Link to Peter's Music: https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC.

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

Link to Frank Barrett's episode "Yes to the Mess" part 1 and 2:

https://youtu.be/xgkk-Vlgtt0?si=-Ddv-aGFj8XtsDrF

https://youtu.be/D7dR5Gi7i80?si=bJ3NhwhhnuYWgVbl

strategy, innovation, execution, Peter Compo, Aidan McCullen, emergent approach, business strategy, military strategy, sports strategy, discipline, improvisation, music, jazz, leadership, organizational behavior, cognitive capacity, change management, tactical planning, operational excellence, resilience

Peter Compo - The Five Disqualifiers of Strategy Sep 14, 2024

Show notes

Understanding the Five Disqualifiers of Strategy with Peter Compo

Welcome back to another episode featuring Peter Compo, the renowned author of 'The Emergent Approach to Strategy.' In today's discussion, Peter delves deep into the 'Five Disqualifiers of Strategy,' offering insights into common pitfalls in strategic design. The episode is packed with practical examples and explanations of why traditional strategy tests often fall short. Peter illustrates the importance of real-time guidance, unified decisions, and free choices in strategic frameworks. Learn about five critical tests to evaluate your strategy: 'Is the opposite absurd?', 'Does it have numbers?', 'Does it exclude anything?', 'Does it duplicate the higher-level organization?', and 'Is it a list?'. This episode is essential for anyone involved in business strategy, innovation, and better thinking.

00:00 Introduction and Welcome

01:01 The Importance of Strategy Testing

01:40 Traditional vs. Modern Strategy Tests

02:17 Introduction to the Five Disqualifiers

05:24 Detailed Explanation of the Five Disqualifiers

06:33 Practical Examples and Applications

08:37 Common Pitfalls in Strategy

18:55 The Role of Clear Language in Strategy

21:43 Summary and Conclusion

38:14 Next Episode Preview

Link to Peter's website: https://emergentapproach.com

Link to Peter's Music: https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC.

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

strategy, disqualifiers, Peter Compo, Aidan McCullen, emergent approach, strategy design, business strategy, adaptive tools, Michael Porter, McKinsey, corporate strategy, innovation, Henry Ford, Warren Buffett, R&D, market dynamics, organizational strategy, DVD business, Netflix, Adobe

Annie Duke - Thinking in Bets Sep 11, 2024

Show notes

Peter Compo Part 4: The Limitations of Aspirations, Plans Metrics Sep 07, 2024

Show notes

In this episode, Peter Compo delves into the emergent approach to strategy and discusses the limitations of traditional frameworks using aspirations, plans, and metrics alone. He further discusses the concept of 'killer problems' in innovation and emphasises the importance of a central rule that provides real-time guidance, unifies decisions, and allows for free choice. Complex examples from business and military strategy illustrate how granularization and over-specification can lead to failure, whereas centralized, low-level constraints help create coherence and foster creativity. Peter also explores nested systems and the necessity of having individual strategies for different segments within an organization.

00:00 Introduction and Overview

00:25 Limitations of Aspirations, Plans, and Metrics

01:12 The Killer Problems of Change and Innovation

03:04 Framework Components and Their Shortcomings

05:25 The Power of Central Rules

06:45 Challenges in Digital Transformation

10:27 Local vs Global Strategy

13:54 Granularization Problem in Strategy

18:31 The Fallacy of Shrinking Time

22:38 The Hidden Blockers of Transformation

26:11 Introduction to Chapter Five: How Strategy Functions

30:20 Granularization and Cascading Problems

31:13 Identifying and Overcoming Bottlenecks

33:29 Elon Musk's Engineering Approach

35:40 The Importance of Low-Level Rules

41:21 Strategy and Tactics in Warfare

48:46 Nested Systems and Organizational Strategy

54:58 The Role of Leadership in Strategy Implementation

56:23 Conclusion and Further Resources

Link to Peter's website: https://emergentapproach.com

Link to Peter's Music: https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC.

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

Peter Compo, strategy, emergent approach, aspirations, plans, metrics, innovation, complex adaptive systems, real time guidance, central rule, rule adherence, deviations from diagnosis, decision making, organizational change, digital transformation, investment in new products, granularization, cascading goals, bottleneck constraints, nested systems, military tactics

Solving Innovation's Killer Problems with Peter Compo Part 3 Sep 05, 2024

Show notes

Solving Innovation's Killer Problems with Peter Compo: The Emergent Approach to Strategy Part 3

In this episode of 'The Innovation Show,' we continue our exploration of the emergent approach to strategy with expert Peter Compo. Delving into the critical challenges of change and innovation, the discussion centers on how high-level aspirations are influenced by disciplined actions at low levels. Peter outlines 'killer problems' in innovation such as the volume of choices, time delays between actions and outcomes, and external influences. Through the use of influence diagrams and practical examples, such as running a successful bike shop, Peter demonstrates how organizations can navigate these problems. The episode also touches on strategies to provide real-time guidance, unify efforts, and ensure actions align with overarching goals, highlighting the importance of integrating these strategies in multifaceted organizations.

00:00 Introduction and Welcome Back

00:39 Understanding High-Level Aspirations

02:37 The Killer Problems of Innovation

04:05 Influence Diagrams and Strategy Frameworks

05:58 Real-World Examples and Practical Applications

07:44 Exploring the Influence Diagram

13:07 The Four Killer Problems

28:15 Solutions to the Killer Problems

41:36 Conclusion and Further Resources

Link to Peter's website: https://emergentapproach.com

Link to Peter's Music: https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC.

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

Peter Compo, Aidan McCullen, emergent approach, strategy, innovation, adaptation, killer problems, change, influence diagram, bike shop example, creativity, discipline, coherence, real-time guidance, free choice, unification, leadership, strategic frameworks, decision-making, business strategies

Peter Compo Part 2: A Primer on Adaptation and Emergence Aug 28, 2024

Show notes

The Emergent Approach to Strategy: Adaptation, Innovation, and Historical Insights

In this episode, the focus is on Peter Compo's discussion of 'The Emergent Approach to Strategy,' specifically its application to adaptation and emergence in strategy development. The conversation explores the parallel between biological evolution and human innovation, highlighting the importance of adaptive systems in creativity and strategy. Historical examples, such as the early automotive industry led by Henry Ford and modern electric cars pioneered by Elon Musk, are used to illustrate how low-level disciplines and rules can lead to high-level strategic outcomes and industry transformations. The episode delves into the principles of complex adaptive systems, emphasizing the balance between discipline and free-thinking, and how effective strategies emerge from rigorous local actions. Peter Compo also addresses the concept of levels within organizations, stressing the significance of being attuned to low-level operations to drive innovation while avoiding becoming prisoners of past successes.

00:00 Introduction and Welcome

00:08 The Concept of Adaptation and Emergence

03:43 Historical Examples of Adaptive Systems

07:13 Ford's Strategy and Its Evolution

10:39 The Theory of Levels in Creativity and Innovation

18:54 Connecting Levels to Strategy

27:41 Ants and Social Insects: A Case Study

31:48 Intel's Transition to CPUs

35:20 Conclusion and Final Thoughts

Link to Peter's website: https://emergentapproach.com

Link to Peter's Music: https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Scale with Geoffrey West Part 1 of 3: https://youtu.be/P3WowJWdX5w?si=lcgHp-bC6OrAuobG

Link to Aidan McCullen for Keynotes, workshops and event MC.

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

Peter Compo, Aidan McCullen, emergent strategy, Peter Compo, adaptive systems, innovation, complex adaptive systems, business strategy, evolutionary mechanisms, creativity, Henry Ford, Tesla, Elon Musk, execution, Intel CPUs, corporate discipline, low level rules, high level outcomes, market forces, leadership insights

Peter Compo Part 1 - The Emergent Approach to Strategy: Aug 24, 2024

Show notes

The Emergent Approach to Strategy with Peter Compo: A Deep Dive into Adaptive Systems

In this episode, we welcome Peter Compo, author of 'The Emergent Approach to Strategy,' to discuss the chronic failures in strategic planning and how his new book aims to redefine strategy through the lens of complex adaptive systems. Peter explains the importance of moving away from traditional planning methods and embracing an agile, emergent approach that focuses on adaptability and real-time guidance. Drawing from 25 years of experience in corporate America, including his tenure at DuPont, Peter provides practical insights into how organizations can raise their probability of success by understanding and addressing the real bottlenecks to achieving aspirations. We explore key concepts from his book, such as the triad of aspirations, bottlenecks, and strategy, and the role of rules and constraints in fostering innovation. With a mix of theory and practical application, this episode is a must-listen for corporate leaders, business strategists, and anyone interested in innovation and strategic planning.

00:00 Introduction to Strategy Failures

01:32 Guest Introduction: Peter Compo

02:06 Elevator Pitch: New Theory of Strategy

07:29 The Role of Discipline in Innovation

07:47 Music and Corporate Strategy

12:46 Challenges in Strategy Execution

14:00 The Misunderstanding of Strategy

17:43 Planning Under Uncertainty

21:30 The Importance of Adaptive Strategy

35:57 Emergent Strategy and Mintzberg's Teachings

36:44 Deliberate vs. Emergent Strategy

37:55 Understanding Strategic Constraints

39:24 Exploring Different Strategic Approaches

41:33 Overview of Strategy Concepts

43:12 Defining Strategy Across Fields

47:18 The Role of Rules in Strategy

52:22 The Triad of Aspiration, Bottleneck, Strategy

01:02:45 Consulting and Real-World Applications

01:07:22 Conclusion and Resources

Link to Frank Barrett's episode "Yes to the Mess" part 1 and 2:

https://youtu.be/xgkk-Vlgtt0?si=-Ddv-aGFj8XtsDrF

https://youtu.be/D7dR5Gi7i80?si=bJ3NhwhhnuYWgVbl

Link to Peter's website:

https://emergentapproach.com

Link to Peter's Music:

https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC:

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

strategy, innovation, complex adaptive systems, Peter Compo, Aidan McCullen, DuPont, emergent approach, strategy definition, corporate strategy, business strategy, adaptive systems, strategy framework, Roger Martin, Michael Porter, Mintzberg, Charlie Parker, jazz improvisation, creativity in strategy, bottleneck, aspirations, goals, execution, discipline in strategy, innovation challenges, long-term planning, organizational change, innovation process, strategic planning, decision making, business leadership, corporate America

From VUCA to BANI, The BANI Framework - Jamais Cascio Aug 20, 2024

Show notes

In this episode, we delve into the fascinating BANI framework with its creator, Jamais Cascio. BANI (Brittle, Anxious, Nonlinear, and Incomprehensible) offers a new lens to understand modern disruptions, evolving from the older VUCA model. Jamais Cascio shares insights from his extensive background in futures and foresight work, including his tenure at the Institute for the Future. We explore the shortcomings of VUCA in today's world, the essence of BANI, and strategies to build resilience, empathy, improvisation, and inclusivity to navigate the complexities of the upcoming decades. This episode is a must-watch for anyone interested in innovation, business strategy, and better thinking to cope with an uncertain future.

00:00 Introduction to VUCA and BANI

01:18 Meet Jamais Cascio: Creator of the BANI Framework

04:52 Exploring VUCA: Volatility, Uncertainty, Complexity, Ambiguity

11:48 The Rise of BANI: Brittleness, Anxiety, Nonlinearity, Incomprehensibility

24:26 Positive BANI: Resilience, Empathy, Improvisation, Inclusiveness

30:34 Conclusion and Future Directions

Find Jamais here and BANI here:

https://medium.com/@cascio

Erich Kruschitz - Navigating Corporate Exploration Aug 17, 2024

Show notes

In this episode of the Corporate Explorer series, we dive deep into managing innovation within large corporations with Erich Kruschitz, CEO of Mavie Next.

Erich shares detailed insights from his journey transforming UNIQA's exploratory unit into a successful growth engine.

We explore the challenges of building and managing a team for innovation, the importance of clearly defined goals and organisational support, and the nuances of handling acquisitions and integrating diverse company cultures.

Key topics include the concept of ambidexterity, the characteristics necessary for a corporate explorer, and the importance of rituals in celebrating and learning from failures. This episode is packed with valuable lessons for anyone involved in corporate strategy and innovation.

00:00 Introduction to Corporate Exploration

00:34 Sponsor Acknowledgment: Wazoku

01:12 Guest Introduction: Erich Kruschitz

01:58 Erich's Journey and Background

02:28 Building a Team for Exploration

04:22 UNIQA's Strategic Shift to Healthcare

11:08 Defining the Purpose and Scope

19:00 Challenges in Team Building

30:32 Acquisitions and Their Impact

37:51 Celebrating Failures and Learning

41:34 Conclusion and Contact Information

Find Erich here:

https://www.linkedin.com/in/erich-kruschitz/

Erich Kruschitz, Aidan McCullen, UNIQA, Mavie Next, SanusX, Wazoku, Corporate Explorer, innovation, ambidexterity, healthcare, insurance, leadership, startups, entrepreneurs, asset management, risk management, finance, telemedicine, employee health, elderly care

William 'Bill' Damon - Crafting Purpose and Resilience Aug 12, 2024

Show notes

William 'Bill' Damon - Crafting Purpose and Resilience

In this episode, we dive deep with William 'Bill' Damon, America's leading expert on adolescence and author of 'The Path to Purpose'. Bill discusses techniques for instilling purpose and fulfilment in today's youth.

We explore his extensive research, including collaborative studies with Howard Gardner and Mihaly Csikszentmihalyi on ethical and successful work.

Bill reveals how his focus on purpose spans across various fields, such as family life, education, and business, highlighting the importance of personal responsibility in different contexts. He also shares his personal journey, reflecting on his relationship with his father and how it has influenced his life's purpose.

This episode is packed with insights for parents, mentors, educators, and anyone interested in understanding and cultivating purpose in life and work.

00:00 Introduction to William Damon and His Work

01:18 The Concept of Purpose in Professional Life

04:32 Exploring Purpose in Everyday Life

07:42 Purpose in Family Businesses

13:00 Personal Journey: Discovering My Father's Legacy

21:27 The Importance of Purpose and Overcoming Challenges

27:09 Evolution of Thoughts on Child Development

35:20 Exploring the Concept of Purpose

36:21 The Role of Sports in Developing Purpose

37:30 Purpose Beyond Sports: Education and Life Lessons

40:33 The Power of Purpose in Everyday Jobs

47:35 Finding Purpose in Various Life Domains

53:04 Categories of Purposeful Individuals

57:12 Challenges and Missteps in Finding Purpose

01:05:39 Conclusion and Final Thoughts

The Path to Purpose, William Damon, Aidan McCullen, adolescence, sense of purpose, family businesses, youth fulfilment, moral development, greater expectations, good work, purpose in life, Mihaly Csikszentmihalyi, Howard Gardner, The Path to Purpose,

A Round of Golf With My Father, Good Work, The Moral Child, Greater Expectations,

The Purpose Driven Life, adolescent psychology, life review process, resilience, family enterprises, purpose and commitment, civic purpose, purposeful living

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