In this episode, Scott D Anthony, writer, speaker and Senior Partner at consulting firm Innosight, joins us to discuss his book, Dual Transformation – How to Reposition Today’s Business While Creating the Future. Scott is a globally renowned specialist in innovation, publishing several books on the domain as well as being a regular contributor to the Harvard Business Review.
What Was Covered
- Scott’s concept of ‘dual transformation’ and his assertion today’s every changing global marketplace companies need to reinventing their business of today to make it ‘better, faster, cheaper’ (Transformation A) at the same time as creating their business of tomorrow (Transformation B)
- Why the most successful leaders in innovation are ‘living at the periphery’ and not at the core of their industry
- Why Scott believes that combining the best elements of startups and large companies is a good path to solve today’s biggest global challenges
- How Scott’s experience of living in Asia has evolved his thinking on how best to organize markets, and the role that family owned businesses, private companies and government linked enterprises can play
Key Takeaways and Learnings
- By doing ‘dual transformations’ together allows an organization to take the disruptive threats that are coming at them today and turn them into exciting growth opportunities of tomorrow
- To avoid getting stuck in the core of today it is necessary to be able to play at the periphery of an industry. The core of today will give you no signal that it’s time to change until it’s too late
- The meeting of entrepreneurial energy with assets and scale can make magic happen – so we should look for ways to combine the start up and large company communities to tackle our most intractable problems
- There are different cultural norms around the world in how people and organizations think about failure. And where we see a reluctance to accept failure it holds back the innovation ecosystems both within large companies and startups