The Innovation Show The Innovation Show

Developing an Ecosystem Playbook for Corporate Innovation with Best Buy Case Study
 
In this episode, we delve into the strategies corporate explorers need to develop successful partnerships and co-innovate to deliver value propositions to their consumers. Our guest, Christine Griffin, shares a six-step process for creating an ecosystem playbook, using Best Buy's expansion into the home health market as a compelling case study. We examine how Best Buy transitioned from a retail giant to an orchestrator of home health services through strategic acquisitions and partnerships. Additionally, we explore the importance of understanding value creation, identifying market breakpoints, mapping ecosystem players, and assessing financial flows. This episode also highlights the critical roles of scaling path, capabilities, capacities, and customer access in achieving business success. 
 
Special thanks to our sponsor, Wazoku, for supporting corporate innovation.
 
00:00 Introduction to Corporate Innovation
00:39 Sponsor Acknowledgment and Guest Introduction
01:52 Overview of Best Buy's Home Health Strategy
03:16 Best Buy's Acquisitions and Initial Footprint
03:55 Building Partnerships in the Healthcare Ecosystem
05:12 Mapping the Ecosystem and Identifying Break Points
10:04 Understanding the Players and Their Roles
12:35 Evaluating Incentives and Profit Pools
15:12 Developing a Scaling Path
18:03 The Importance of Stakeholder Involvement
19:46 Conclusion and Further Resources
 
Corporate Explorers, Innovation Strategy, Innovation Ecosystems, Best Buy Case Study, Christine Griffin, Scaling Startups, Corporate Innovation, Business Ecosystems, Strategic Partnerships, Innovation Show, Wazoku, Sustainable Innovation, Hubert Joly, Ecosystem Playbook, Technology Adoption, Corporate Explorer Series, Corporate Strategy, Innovation Tools, Best Buy Health, Business Development, Innovation Leadership, Change Logic, Healthcare Innovation, Digital Health, Startup Scaling, Entrepreneurship, Business Growth, Market Strategy, Innovation Mapping, Corporate Transformation
 
Find Christine here: https://changelogic.com/team/christine-griffin/
Find Wazoku here: https://www.wazoku.com

In this episode, we are joined again 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
 
Find Wendy here: https://bothandthinking.net/book/
And on Substack here: https://wendyksmith.substack.com
 
Wendy Smith, Both and Thinking, Aidan McCullen, innovation, paradox, decision making, leadership, career challenges, tension management, creativity, organisational behaviour, success, problem solving, conflict resolution

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

Mastering High-Stakes Conversations for Corporate Innovation
In this episode, we dive into the essential techniques for leading high-stakes conversations to secure senior-level commitment to corporate innovation. Our guest, Alexander Pett, an expert in executive team dynamics, discusses the crucial concept of 'productive tension' and how recognizing and addressing disagreement can lead to authentic agreement and commitment. Pett outlines practical strategies for effectively framing issues, maintaining engagement, and navigating political dynamics in boardroom settings. Tune in to learn how to prepare and communicate strategically, ensuring your innovative ideas gain the buy-in they need to succeed.
00:00 Introduction to High-Stakes Conversations
01:31 The Importance of Productive Tension
05:23 Pre-Work and Stakeholder Engagement
07:12 Creating and Maintaining Productive Tension
08:44 Communication Skills and Self-Awareness
18:30 Frameworks for Effective Dialogue
20:55 Final Thoughts and Advice
Corporate Innovation, Senior Team Engagement, Productive Tension, Executive Leadership, Alexander Pett, Aidan McCullen, Corporate Explorer, High Stakes Conversations, Leadership Strategies, Boardroom Dynamics, Effective Communication, Innovation Leadership, Pre-Meeting Preparation, Organizational Change, Executive Buy-In, David Kantor, Group Dynamics, Empathy in Leadership, Political Savvy, Agreement and Advocacy

Ethical Business Leadership in a Turbulent World | Alison Taylor's Insights
 
Join Alison Taylor, NYU Stern ethics professor and author of 'Higher Ground: How Business Can Do the Right Thing in a Turbulent World.' Alison shares her guidance on how companies can navigate ethical challenges in today's volatile landscape. She emphasizes the importance of going back to first principles and treating human beings with dignity and respect. Discover the significant shifts in business ethics, stakeholder capitalism, and the role of transparency and social media. Learn about the critical role of corporate culture, leadership, and the importance of addressing systemic issues within organizations. Whether you're a CEO, board member, or business leader, this discussion is packed with indispensable insights on creating a responsible and sustainable business.
 
00:00 Introduction to Ethical Business Practices
01:16 Understanding the Modern Business Landscape
02:36 The Rise of Transparency and Stakeholder Capitalism
04:36 Navigating Ethical Challenges in Business
08:41 The Complexity of ESG and Innovation
11:54 The Role of Leadership and Culture in Ethics
30:17 Addressing Corruption and Corporate Responsibility
34:39 Human Rights and Business Ethics
37:21 Tools for Building Ethical and Effective Cultures
49:09 Final Thoughts and Call to Action
Find Alison here:
https://www.alisontaylor.co
That article was mentioned during the episode here.
https://hbr.org/2017/12/5-signs-your-organization-might-be-headed-for-an-ethics-scandal
 

Get Out of the Building: How to Gathering Customer Discovery Data with Vanessa Ceia
 
In this episode, we explore the critical shift needed for corporate explorers to succeed—moving from an inside-out to an outside-in mindset. Highlighting Corporate Explorer Field Book chapters, we discuss how customer discovery interviews can overcome inherent corporate biases. Sponsored by Wazoku, our guest Vanessa Ceia, an innovation expert, explains the importance of different interview stages—ideation, incubation, and scaling—and how qualitative research like focus groups and interviews are essential throughout the innovation process. Gain insights into preparing, conducting, and analysing interviews to gather customer-driven data and foster effective, sustainable innovation ecosystems.
 
00:00 Overcoming Corporate Mindset Obstacles
01:01 Introducing the Corporate Explorer Series Sponsor
01:37 Meet the Expert: Vanessa Ceia
02:05 Deep Dive into Customer-Driven Innovation
03:22 Exploring the Innovation Funnel: Ideation to Scaling
11:40 Incorporating Stakeholder Feedback for Success
14:35 Mastering the Interview Process for Innovation
19:53 Concluding Thoughts and Sponsor Acknowledgment
 
Aidan McCullen, Vanessa Ceia, customer discovery, corporate explorer, bias, assumptions, customer interviews, innovation, sustainability, value growth, qualitative research, innovation maturity, ideation, incubation, scaling, problem validation, MVP, customer segmentation