The Innovation Show The Innovation Show

In this episode of the Corporate Explorer series by Wazoku, we delve into the concept of customer-first practices and their impact on bridging the maturity gap in corporate innovation. 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. He discusses the common pitfalls of corporates mistaking invention for innovation, the crucial role of customer problem identification, and the necessity of developing a repeatable business model. Nichols also outlines the steps towards achieving business model maturity, highlighting the importance of problem-solving, scalability, and customer need. This episode sheds light on the systemic issues facing corporate innovation and offers guidelines for successfully navigating and leveraging customer-first methodologies to ensure sustainable growth and innovation within large organizations.
 
00:00 Unpacking the Essence of Customer-First in Corporate Innovation
01:11 Introducing Michael Nichols: A Deep Dive into Corporate Ventures
02:04 The Intricacies of Inside-Out Innovation Explained
03:59 The Challenges of Corporate Innovation and the Funding Dilemma
07:11 Navigating the Innovation Cycle: From Ideation to Market Validation
11:36 Addressing the Corporate Innovation Gap: Strategies and Solutions
25:56 Exploring Business Model Maturity: Key Indicators for Success
35:55 Final Thoughts and Where to Connect
 
 Find Michael here: https://www.linkedin.com/in/michael-guy-nichols/

An Interview with Ellen Langer: The Power of Mindfulness in Health and Life
 
The script features an interview with Ellen Langer, the first woman to be tenured in psychology at Harvard. Known worldwide as the mother of mindfulness and the mother of Positive Psychology, she shares insights from her esteemed career and her latest book, 'The Mindful Body Thinking, our Way to Lasting Health'. Langer discusses her role in pioneering research in Mind Body Unity and emphasizes the importance of mindfulness as a way of enhancing health. She explains how attitudes and personal perspectives can often influence our physical and mental well-being, including how we perceive and treat stress, illnesses like cancer, chronic diseases and even factors like age and physical appearance. She emphasizes the power of perception, contextual considerations, and the important role that language plays in mediating our experiences.
 
00:00 Introduction to the Guest and Her Work
00:48 Understanding Mindfulness and Its Impact
01:34 Exploring the Concept of Mindfulness
02:25 The Power of Being Mindful
03:27 The Prevalence of Mindlessness
04:10 The Benefits of Noticing Change
05:24 The Journey to Mindfulness
05:47 The Impact of Personal Experiences on Research
06:40 Exploring the Mind-Body Unity Concept
08:25 The Power of Mindset in Physical Health
10:54 The Influence of Perception on Healing
11:32 The Role of Mind-Body Unity in Chronic Illness
19:05 The Power of Attention to Symptom Variability
23:40 Understanding and Addressing Addictions
28:50 The Impact of Perception on Sleep
28:57 The Power of Perception in Sleep and Attitude
29:37 The Impact of Clothing on Perception and Age
30:33 The Influence of Uniforms and Balding on Age Perception
31:41 The Mind-Body Connection and Personal Experiences
33:57 The Power of Placebos and the Challenge of Social Conditioning
39:27 The Role of Stress in Health and Disease
43:23 Challenging the Rules and Embracing Innovation
46:30 The Power of Language in Shaping Our Reality
52:16 The Illusion of Control and the Role of Risk in Decision Making
 
Ellen Langer, Social Psychology, Stress Management, Health Awareness, Thinking habits, Motivational Interview, Personal Development, Positive Psychology, Mind-Behaviour Connection, Chronic Health, Lifestyle, Habitual Behaviour, Carrying out tasks, Confidence Building, Empowerment
 
Find Ellen here: 
https://www.ellenlanger.me

In this final of a 4-part episode, Rita McGrath discusses her upcoming book focused on how organisations can design structures that empower decision-making at all levels, embracing a 'permissionless' approach to innovation. She elaborates on the importance of engaging disengaged workforces and optimising for transient competitive advantages. Rita provides insightful tactics for assessing competitive landscapes, using various strategies like onslaughts, guerrilla campaigns, feints, and gambits. She also touches on leadership practices for fostering innovation, including managing personal agendas, devoting time to new ventures, and employing a range of leadership practices to navigate uncertainty and encourage a culture of opportunity-seeking within organisations. Rita advocates for 'intelligent failure' and explores how technology can redefine management to promote human flourishing at work. The episode concludes with an insight into her new book's core thesis, aiming for a release in 2024 or 2025.
 
00:00 Welcome & Introduction to Rita McGrath's Insights
00:16 Sneak Peek: Rita McGrath's Upcoming Book on Organisational Design
00:57 Decoding Competitive Strategies and Responses
03:53 Exploring Competitive Moves: Onslaughts to Guerrilla Campaigns
09:35 The Art of Feints and Gambits in Business Strategy
14:32 Entrepreneurial Leadership: Driving Innovation from the Top
22:05 Orchestrating Practices for Entrepreneurial Success
28:04 Path Clearing and Handling Failure in Entrepreneurial Ventures
40:40 Anticipating Rita McGrath's New Book & Final Thoughts
 
Find Rita: www.RitaMcGrath.com
Find Valize: www.Valize.com
 
Find Aidan McCullen for Keynote talks on Innovation, Transformation and Change: www.AidanMcCullen.Com
 
More on the Innovation Show: www.TheInnovationShow.IO

The Power of Collective Intelligence with Simon Hill
Harnessing Global Creativity for Innovation: A Wazoku Story
 
This episode examines the power of collective intelligence and open innovation, focusing on Wazoku, a company that facilitates innovation through technology. The discussion highlights a story where an individual from India solved a carbonated drink company's bubble manipulation challenge, exemplifying global problem-solving capabilities. Simon Hill, Wazoku's CEO, elaborates on the importance of embracing external ideas, utilising software for innovation efficiency, and fostering a culture that supports innovation. Emphasising the potential of AI and crowdsourcing, the narrative showcases examples where unexpected solutions emerged from non-obvious sources, including a violinist providing a solution for a potato chip company. The episode underscores the significance of asking the right questions, timing for ideas, and structuring organisations to tap into external creativity effectively.
 
00:00 The Spark of Innovation: A Global Call for Ideas
00:56 The Power of Crowdsourcing in Innovation
01:30 Introducing Simon Hill: Innovator and Corporate Explorer
02:09 Exploring the Nuts and Bolts of Challenge-Driven Innovation
02:56 The Role of AI and Technology in Shaping Innovation
08:19 The Human Element: Culture, Mindset, and Organisational Change
12:57 Harnessing External Ideas: The Case of Manish and Beyond
16:19 The Future of Work and Innovation: A Circular Ecosystem
23:56 Real-World Success Stories: From Violinists to Potato Chips
26:45 Wazoku: Envisioning a World of Collective Intelligence
 
Find Wazoku at www.Wazoku.com

In this extensive session with Rita McGrath, Aiden explores the timeless insights of McGrath's book on embodying an entrepreneurial mindset in businesses. McGrath emphasises the importance of continuous innovation, exploiting new opportunities, and building new competencies to stay competitive. The conversation covers key concepts like the significance of key ratios, creating new competence, understanding consumption chains, and the necessity of political savvy within corporate innovation. McGrath also introduces practical tools and frameworks for evaluating opportunities, managing resources, and adapting execution strategies. The dialogue includes examples like Amazon's innovation in delivery systems and Procter & Gamble's ventures, illustrating the application of these concepts in real-world scenarios. McGrath provides advice on overcoming common challenges in innovation, such as attracting the first few customers and navigating corporate politics effectively.
 
00:00 Welcome & Introduction to Timeless Business Frameworks
00:36 Exploring the Entrepreneurial Mindset and Innovation
02:03 Key Ratios: The Secret to Competitive Advantage
06:15 Stratification Mapping: Unveiling Business Asymmetries
08:39 The Art of Championing Innovation Within Corporations
15:16 Navigating Corporate Politics for Innovation Success
23:13 Asset Parsimony: Thriving with Limited Resources
25:40 Real Options Reasoning vs. Net Present Value
31:24 Exploring the Ecosystem of Options
31:56 The Future of Remote Work Technologies
32:31 Investing in Positioning Options
33:51 Scouting and Stepping Stones: Navigating Uncertainty
35:09 Leveraging RFID Technology: A Case Study
38:05 Resource Allocation and Organisational Structures
42:17 Competitive Insulation and the Direct-to-Consumer Boom
46:22 Adaptive Execution and Discovery Driven Growth
54:22 Understanding Customer Consumption Chains
58:20 Concluding Remarks and Additional Resources
 
Find Rita: www.RitaMcGrath.com

In part 2 of The Entrepreneurial Mindset, Rita McGrath, discusses the concept of the entrepreneurial mindset and the power of consumption chain analysis for businesses seeking to differentiate and innovate. 
 
Rita illustrates how understanding each step of a customer's journey, from need identification to product disposal, can unveil numerous opportunities for innovation and competitive advantage. 
 
She shares insightful examples ranging from grocery shopping to the historical battle between Betamax and VHS, highlighting the importance of aligning each step of the consumption chain to customer needs and preferences. 
 
She also touches on the significance of resegmenting markets and reconfiguring industries to capture new opportunities, using examples from automobile insurance and manufacturing. 
 
The episode offers a deep dive into how companies can apply these concepts to drive growth, challenge assumptions, and transform their competitive landscapes.
 
00:00 Welcome & Recap of Part One
00:30 Diving Deeper into Consumption Chain Analysis
01:12 Exploring Customer Choices and Consumption Chains
02:30 The Importance of Understanding the Customer Journey
05:41 Learning from Failure and the Power of Networks
08:53 Innovative Case Studies: Progressive Insurance and Beyond
13:18 Resegmenting Markets for Competitive Advantage
19:05 Reconfiguring Markets: Evolutionary to Revolutionary Changes
23:52 The Five Whys Technique and Citibank's Strategic Move
30:10 Closing Thoughts and Where to Find More
 
Find Rita: www.RitaMcGrath.com
Find Valize: www.
 
Find Aidan McCullen for Keynote talks on Innovation, Transformation and Change: www.AidanMcCullen.Com
 
More on the Innovation Show: www.TheInnovationShow.IO