The Innovation Show

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Picking Presidents with Gautam Mukunda Oct 03, 2023

Show notes

Gautam Mukunda is an internationally recognized expert in leadership and innovation. He often jokes that his life's ambition is to have the world's most confusing resume and that he's most of the way there. Gautam is a Research Fellow at the Harvard Kennedy School's Center for Public Leadership, Senior Advisor to America's Frontier Fund, the author of Indispensable: When Leaders Really Matter (Harvard Business Review Press, 2012) and Picking Presidents: How To Make The Most Consequential Decision in the World (University of California Press, 2022), and the host of Nasdaq's podcast World Reimagined with Gautam Mukunda.

Gautam has been a professor at Harvard Business School and Distinguished Visiting Professor at Schwarzman College, Tsinghua University. He was Head of Research at Rose Park Advisors, a specialized investment firm founded by his mentor Clayton Christensen, that invests using the theories of disruptive innovation. He has published articles in Harvard Business Review, Foreign Policy, Security Studies, Slate, Fast Company, Parameters, Politics and the Life Sciences, and Systems and Synthetic Biology on topics including leadership, reforming the financial sector, military innovation, network-centric warfare, the security and economic implications of synthetic biology, and the TV show Mad Men. His work has been profiled in the New York Times, Atlantic, New Yorker, Economist, Washington Post, Wall Street Journal, and on All Things Considered. He is the Exclusive Leadership Consultant to U.S. Soccer.

Find https://www.gautammukunda.com/

Pivot to the Future with Paul Nunes Part 7 Sep 27, 2023

Show notes

To truly profit from disruption, an enterprise must be prepared to manage increasingly short windows of profitability, scaling up rapidly as customers embrace the new all at once, then scaling down nearly as fast when demand declines. Paul Nunes is the global managing director for thought leadership at Accenture Research. He leads the company in developing ground-breaking insights into technology and strategic business change. He is co-author of three books, Big Bang Disruption: Strategy in the Age of Devastating Innovation, Jumping the S-Curve: How to Beat the Growth Cycle, Get on Top, and Stay There, and Mass Affluence: 7 New Rules of Marketing to Today's Consumers. It has been an absolute pleasure learning from him.

00:00:00.256 Introduction and Overview of the Series Finale 00:11:25.254 Creating a Company that Values Innovators 00:16:20.936 Balancing Wall Street Expectations and Innovation Goals 00:18:31.172 Jeff Bezos' Approach to Investor Relations 00:21:14.030 Managing Wall Street vs Managing to Wall Street 00:22:46.440 Effective Communication and Leadership in Challenging Times 00:32:40.338 Predicting Heart Attacks and Improving Sleep Patterns 00:36:12.004 The Profound Importance of Cell Phones 00:40:47.441 Companies Breaking New Ground through Strategies and Resource Allocation 00:45:35.337 Jio's success in leveraging 4G technology 00:48:06.392 Final thoughts

Pivot to the Future with Paul Nunes Part 6 Sep 22, 2023

Show notes

Pivot to the Future is for leaders who seek to turn the existential threats of today and tomorrow into sustainable growth, with the courage to understand that a wise pivot strategy is not a one-time event but a commitment to a future of perpetual reinvention, where one pivot is followed by the next and the next.

Based on Accenture's own experience of reinventing itself in the face of disruption, the company's real-world client work, and a rigorous two-year study of thousands of businesses across 30 industries, Pivot to the Future reveals methodical and bold moves for finding and releasing new sources of trapped value-unlocked by bridging the gap between what is technologically possible and how technologies are being used. The freed value enables companies to reinvent their legacy and current and new businesses simultaneously.

00:00:00.256 Harnessing Disruption: A Strategy for Future Relevance 00:03:08.439 Extending the Horizons: Balancing Old, Now, and New Businesses 00:11:22.493 The importance of a visionary CEO and leadership team 00:15:16.543 Majority of profits go to reinforcing existing businesses 00:19:15.760 Old trees provide shade and protection for the next generation 00:21:06.756 Conventional Wisdom vs. New Wisdom: Exiting vs. Exploiting Old Businesses 00:28:00.496 The Fallacy of Cash Cows in Rapidly Changing Markets 00:31:49.016 The Challenges of Electric Cars and Hybrid Technology 00:43:01.017 The Trapped Value Gap: Turning Disruption into Opportunity 00:47:41.371 Societal Value: How Society Benefits from Digital Transformation 00:49:00.914 The Evolution of Customer Segments and Channels

Big Bang Disruption with Paul Nunes Part 5 Sep 16, 2023

Show notes

In keeping with the metaphor of astronomy's Big Bang theory, Paul named the four stages of the shark fin after critical events in the creation and predicted the end of our known universe. Let's get into the four stages: The Singularity, The Big Bang, The Big Crunch and Entropy. Paul unpacks the rules that prop up these four stages.

00:00:00.769 Introduction and Overview of "Four Phases of Big Bang Disruption" 00:03:14.786 Importance of Truth Tellers and Pinpoint Market Entry 00:11:11.771 From Idea to Product: Rapid Sales Success 00:15:34.394 The Importance of Being First in a Competitive Market 00:17:00.996 The concept of bullet time in movies explained 00:19:11.133 The need to anticipate how incumbents will slow time 00:20:34.611 The Strategic Thinking in Chess and Business 00:30:44.407 Recognizing Industry Shifts: The iPod and Toshiba Hard Drive 00:35:05.831 Phillips' Transition to LED Bulbs and Exiting the Lighting Business 00:38:39.902 Profiting from the Wreckage: Escape Your Own Black Hole 00:41:02.475 The challenges of transitioning and maintaining customer commitments 00:44:31.607 Moving on from the past and finding new opportunities

Big Bang Disruption with Paul Nunes Part 4 Sep 09, 2023

Show notes

We continue our series with Paul Nunes. This is part 2 of Big Bang Disruption where we dive into the Shark Fin and look at Nintendo, Regulation, Pinball and more.

00:00:00.000 The birth of a new company in the face of disruption 00:02:42.027 The impact of heavy regulation on industries and innovation 00:10:32.944 The value and promise of smart talent placement 00:14:05.668 The life cycle stages and business strategy adaptation 00:16:26.230 The shift from bell curve to shark fin curve in sales 00:19:26.977 Saturation and the importance of inventory management 00:21:47.284 The Challenge of Optimising Sales and Market Demand 00:24:22.756 Balancing Inventory and Strategic Shortages 00:25:35.386 The Challenge of Competitors in a Powerful Marketplace 00:30:08.325 The Impact of Production and Overproduction on Sales 00:34:41.138 The Challenge of Innovation and Versioning Problem 00:45:20.894 The Importance of Apple's Ecosystem and Interoperability

Big Bang Disruption with Paul Nunes Part 3 Sep 04, 2023

Show notes

We have entered a fourth stage of innovation— the era of Big Bang Disruption. The new disrupters attack existing markets not just from the top, bottom, and sides but from all three at once. By tying their products to the exponential growth and falling costs of new technologies, their offerings can be simultaneously better, cheaper, and more customized. Not just for one group of users, but for all (or nearly all) customers. This isn't disruptive innovation. It's devastating innovation.

00:00:00.000 The Evolution of Innovation: Addressing Disruption 00:02:36.657 Three Styles of Innovation: Traditional, Cost, and Blue Ocean 00:06:23.894 Simplifying Business Strategies: Differentiation, Cost, and Customer Focus 00:07:20.966 The Challenge of Competing with Better Products 00:17:12.447 Leveraging cameras for innovative bottle tracking technology 00:19:56.153 The cost advantage of digital products and services 00:23:54.145 The phenomenon of better and cheaper innovation in various industries 00:26:44.172 The Impact of Information Spread and Market Realities 00:34:52.300 The Importance of Meeting Customer Breakthrough Points 00:36:20.074 Introduction to the concept of disciplined innovation 00:38:56.498 The power of recombining components in innovation 00:39:26.799 The Rise of Drones: A Phenomenon Explained 00:42:13.962 Rapid Fire Experiments and the Democratization of Customer Insight 00:47:26.683 Information and Access: The Challenges of Finding Information 00:49:04.340 The Power of Low Cost Components 00:49:31.700 Putting Screens on Refrigerators - Why Not? 00:52:04.248 Exponential Technologies Drive Down the Cost of R&D 00:54:40.337 The Challenge of Finding the Threshold for Product Success 00:57:51.377 Broadening Horizons and Taking Time to Think for Workplace Change

Jumping the S-Curve - Paul Nunes Part 2 Aug 28, 2023

Show notes

Paul Nunes has found that what matters is not just climbing your current S-curve, which is what you do to reach the top of a single successful business. Instead, he emphasises the equal importance of the moves you must make to your next business: making the jump to your future S-curve. His book reveals crucial insights for making such transitions, including: * Why traditional strategic planning won't allow you to find the "big-enough" market insights that are critical to superior performance * Why your top team must be refreshed before performance starts to wane * Why you need much more talent than you think, especially "serious talent" that will find you worthy of their time We welcome back for Par 2, "Jumping the S-Curve: How to Beat the Growth Cycle, Get on Top, and Stay There", Paul Nunes.

00:00:00.094 Introduction and Importance of Recognizing Stall Points 00:01:51.468 The Real Question: Where Are You in Your Products? 00:09:00.634 Shifting Focus from Cool Phone Features to Reliable Networks 00:12:42.280 Potential Impact of 20% Price Increase on Buyers 00:12:49.050 The Power of Pricing and Competitors 00:15:46.209 The Importance of Scaling and Servicing Demand 00:19:14.833 Strategic Flexibility and Divestment for High Performers 00:23:15.986 The Danger of Fixating on Efficiency and Cost Management 00:25:00.592 Focusing on current success, time to think about next steps 00:29:03.240 The importance of seeing the bigger picture and avoiding tunnel vision 00:32:45.856 Waiting too long for the next big move 00:35:03.439 The Challenge of Technological Obsolescence 00:38:50.137 The Need for Resale Markets and Recycling 00:42:11.000 Letting Go of Stranded Assets in Business 00:46:44.796 Borrowing vs. Profits: Paying off the Mortgage 00:50:47.794 Add-Centric Strategy: Edge of the Organization and Edge of Chaos 00:57:29.565 The Nature of Strategic Transitions and Leadership Selection 01:02:34.211 Changing Management Succession and Ownership of Capabilities 01:05:34.274 Establishing Hotbed Conditions for Talent Development 01:10:28.171 Investing in People and Building Capable Teams

Jumping the S-Curve - Paul Nunes Part 1 Aug 25, 2023

Show notes

Paul Nunes has found that what matters is not just climbing your current S-curve, which is what you do to reach the top of a single successful business. Instead, he emphasises the equal importance of the moves you must make to your next business: making the jump to your future S-curve. His book reveals crucial insights for making such transitions, including: * Why traditional strategic planning won't allow you to find the "big-enough" market insights that are critical to superior performance * Why your top team must be refreshed before performance starts to wane * Why you need much more talent than you think, especially "serious talent" that will find you worthy of their time We welcome "Jumping the S-Curve: How to Beat the Growth Cycle, Get on Top, and Stay There", Paul Nunes.

In this episode, we discuss

00:00:00.000 Filling the Gap: Repeated Peaks of Business Performance 00:06:38.522 The Origin: Defining High-Performance Business 00:09:34.223 Kroger's Mistake: Not Investing in the Future 00:12:23.282 Creating Sustained Value and Jumping an S-Curve 00:16:49.711 The Nature of S-Curves and Technology's Impact 00:20:07.341 Jumping Three Curves Simultaneously: A Mind-Blowing Challenge 00:23:44.811 The Zenith Example: Jumping S-Curves or Getting Left Behind 00:26:29.471 The Importance of Big Hairy Audacious Goals 00:28:26.303 The Problem with BHAG and Matching Aspirations to Capabilities 00:34:11.000 The Importance of Listening to Insights and Sourcing Strategy 00:38:48.440 Average and low performers rely on their phones too much 00:41:53.306 The missed step of Apple with iTunes and the acquisition of Beats 00:44:59.325 Balancing short-term profits and investing in future waves 00:48:20.841 Balancing streaming profits and investing in new content creation 00:50:59.949 Surprising Price Difference in India 00:51:06.609 Scaling too hastily can lead to problems 00:54:16.844 The importance of understanding what creates value before scaling 01:00:30.502 Designing with shared components in automotive industry 01:03:32.600 Price point and competence before scaling in consumer products 01:06:29.449 Collecting vinyl records and now books

Private Lawns, Planning: Protection or Growth Aug 24, 2023

Show notes

"Priorities are determined by the relative strengths of your needs in relation to the range of opportunities afforded by your current circumstances." - Mark Solms. In his book, "Homo Deus", Yuval Noah Harari explains that lawns offered no practical value - they weren't used for grazing animals or growing food. The size and neatness of the lawn became an undeniable symbol of status, a peacock display of wealth that couldn't be imitated. Devoting precious land or time to a lawn was unthinkable for peasants. For them, a 'lawn', if they had any, was not for relaxation but for survival, used to grow food. This historical nugget came to mind recently as I spoke to Neuropsychologist and author of 'The Hidden Spring', Mark Solms. Mark explains that needs and actions are interconnected and must be prioritized based on urgency. For example, we become aware of the need to go to the bathroom when it becomes urgent, a concept referred to as "latchkey urgency". This concept of prioritising needs also applies to organisations, which must determine critical needs based on their current circumstances. For example, I briefly worked as head of Innovation in a large bureaucratic organisation. I should have done my homework on the organisation and presumed we could foster a culture of innovation. However, I soon realised the reality of this week's Thursday Thought. You must also prioritise in an organisation. You cannot paint #innovation over the rust of a toxic culture. You must first tend to the "cultural lawn" before adding the innovative decor. This is even more pronounced if an organisation is fighting for survival. In "Organisational Fight or Flight Mode", businesses tend to double down on what we already know and become resistant to anything new. Research from former Innovation Show guest Bruce Lipton provides an interesting parallel. His work shows that cells switch between 'protection and' growth modes' based on the surrounding environment and signals from the environment, body, and brain. When a cell perceives a threatening environment, it focuses on protection, thus preventing growth. Conversely, the cell thrives in a non-threatening environment, promoting growth. The same can be applied to humans and their work environments. In a psychological climate of fear, people are less likely to take creative risks or invest in long-term planning. However, when the environment is supportive and non-threatening, individuals are more likely to thrive, plan, and grow. This is where the privilege of having a 'private lawn' comes into play. 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. 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.

Mark Solms - The Hidden Spring Part 9: Making a Mind and The Hard Problem Aug 22, 2023

Show notes

It is a pleasure to welcome the author of The Hidden Spring: A Journey to the Source of Consciousness, Mark Solms. In this episode, we unpack "The Hard Problem" and culminate on Mark's latest challenge: Making a Mind, where he and his team have built a conscious intelligence.

00:00:00.508 The Final Chapter: Exploring the Source of Consciousness 00:06:03.237 Understanding the Underlying Mechanism and the Free Energy Principle 00:12:35.699 Mechanism: Substrate-Independent and Irrelevant to Appearance 00:24:05.372 The cortex and brainstem: the wrong place to look 00:26:57.108 The mechanism of feeling predicts conscious experience 00:34:18.887 Making a Mind: Exploring Consciousness and Mechanisms of Feeling 00:42:00.900 Richard Feynman's Last Words: "If I can't create it, I don't understand it." 00:46:47.955 The Imperative for Artificial Intelligence: Maintaining Homeostatic States 00:47:39.085 The Functioning of the Robot and its Activities 00:52:53.276 The Final Chapter: Artificial Feelings and Ethical Considerations

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