Outthinkers

Jean-Manuel Izaret, or, JMI as he often prefers to go by, is a BCG managing director and senior partner and the global leader of the Marketing, Sales & Pricing practice based in San Francisco. His work as a BCG Fellow focuses on the topic of pricing model transformation. JMI has worked on pricing issues across industries, including consumer goods, retail, high tech, financial services, and industrial goods.

JMI has a talent for condensing the intricate and vast topic of pricing into clear, simple concepts that any business person can apply. His book, Game Changer: How Strategic Pricing Shapes Businesses, Markets, and Society, released just this October 2023, and co-written with Arnab Sinha, was written with the mission to flip the flawed and clichéd conversations surrounding pricing to an approach that promises winning strategies for greater and fairer value to the buyer and seller and to society at large.

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In this episode, he shares:

• His concept of the Strategic Pricing Hexagon—a framework that enables decision makers to formulate a clear pricing strategy and shape their business and markets with authority using seven logical and distinct pricing games
• The top decisions people often get wrong about pricing—and how to avoid them
• How to choose what unit to charge by, and how this has the power to changes your entire business model—Illustrated nicely through the simple case of the way in which we buy, lease, or hire cars.
• Three trends that have changed pricing models—and how you can use these to your advantage
• And a bonus interesting historical take on tipping—and how this originated and evolved in various parts of the world.

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Episode Timeline:

00:00—Highlight from today's episode

00:56—Introducing JMI + The topic of today’s episode

3:32—If you really know me, you know that...

5:36—What do people most get wrong when approaching pricing?

7:43—How Netflix's change in their pricing model evolved over time, radically changing the business model itself

8:48—How does a business decide on what unit to use to when establishing price?

12:17—How do you decide what part of the market or customer segment is going to dictate and most influence the decisions you make when shaping your business model and product?

16:57—What has changed over time about pricing?

20:12—Could you walk us through your Hexagon pricing model?

23:58—What are your thoughts around the rise in dynamic pricing?

26:37—As an interesting side tangent—why do you think Europeans have such a different relationship with tipping than Americans?

29:24—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Author Website:https://www.izaret.net/bio

Book website: https://www.bcg.com/capabilities/pricing-revenue-management/game-changer-the-new-strategic-pricing-book

LinkedIn: https://www.linkedin.com/in/izaret

Sheena Iyengar is the S.T. Lee Professor of Business at Columbia Business School, where she has taught since 1998. A graduate of both Wharton and Stanford, she is one of the world's experts on choice and innovation. Famously known for her “Jam Study,” which transformed the way we think about products offered in the marketplace and how we curate them for customers, you may recognize her from one of her Ted Talks, which have collectively been viewed nearly seven million times.

Sheena is a masterful speaker and thinker on innovation. She opens our conversation with a fascinating take on how the Statue of Liberty was created to illustrate how though seemingly a quality of “geniuses” actually creativity and innovation are attainable by everyone.

Sheena has published two books, The Art of Choosing, and her recent 2023, Think Bigger: How to Innovate, which has been hailed by The New York Times and The Financial Times, among others, as a must read for business leaders.

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In this episode, she shares:

• The relationship between creativity and innovation, and how one is the output of the other
• The six steps to “think bigger,” and unlock innovation, which are—while incredibly powerful—also surprisingly practical and attainable.
• A few fascinating exercises you can employ with individuals to master the final sixth step “the third eye,” in which you make sure that your idea translates to others
• How AI will enhance our innovation capabilities as humans—not compete with them

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Episode Timeline:

00:00—Highlight from today's episode

1:25—Introducing Sheena + The topic of today’s episode

3:32—If you really know me, you know that...

4:59—What is your definition of strategy?

5:20—Could you tell us about the design of the Statue of Liberty, and what it teaches us?

9:13—How do you define innovation vs. creativity?

9:47—Could you walk us through the steps in the "Think Bigger" process?

17:33—Tell us about the last step (step 6) and this concept of the "third eye"

19:15—Could you share your exercise for "developing" this third eye?

23:42—How do you see AI interacting with human creativity?

26:52—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Website: https://sheenaiyengar.com/

LinkedIn: https://www.linkedin.com/in/sheena-iyengar-1592b310/

Twitter: https://twitter.com/Sheena_Iyengar

David Lancefield is a catalyst, strategist and coach to senior executives, professionals and entrepreneurs. Over the last 25 years, David has worked with organizations on strategy, innovation, culture from start-ups to blue chips, while building and leading successful businesses and client accounts within PwC. He also speaks, facilitates and hosts the Lancefield on the Line podcast, and writes for Harvard Business Review and is a contributing editor for Strategy+Business, as well as being published by Forbes and Financial Times, among others.

David sits in the intersection of how strategy, leadership and culture all come together. In this thought-provoking conversation, we discuss two topics that are prevalent in the business world—strategy and culture. But where they are often treated as one dependent on the other, David brings to us the perspective that the two directly support and inform one another—and that building them in tandem is a competitive advantage is too often overlooked.

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In this episode, he shares:

• His definition of culture, and not just a set of beliefs, as most assume.
• How heads of Culture and HR are often kept out of strategy conversations and treated separately--but should actually work hand in hand, with culture informing strategy.
• You know how every strategy efforts ends with “communication and alignment?” He explains why we should be thinking about this differently.
• How to identify your “culture catalysts”—people who naturally exhibit the desired behaviours—and enlist them to enact change, as well as where to start in shaping your culture.

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Episode Timeline:

00:00—Highlight from today's episode

1:14—Introducing David + The topic of today’s episode

3:02—If you really know me, you know that...

4:02—What is your definition of strategy?

5:18—How do you align strategy and culture, and which one would you say comes first?

7:22—What is the relationship between behaviors and their relation to culture?

8:59—what happens when strategy and culture are not well aligned?

12:13—How do you measure culture? 

13:59—Is there a set of steps you find most effective when enacting a culture change?

15:55—How do you identify your cultural advocates that can help promote your culture?

19:49—What are your thoughts on intrapreneurship?

21:50—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Author Website: https://davidlancefield.com/

LinkedIn: https://www.linkedin.com/in/davidclancefield/

Twitter: https://twitter.com/Dlancefield

Bob Sutton is an organizational psychologist and professor of Management Science and Engineering at the Stanford Engineering School. He has given keynote speeches to more than 200 groups in 20 countries, and served on numerous scholarly editorial boards focused around his work on leadership, innovation, organizational change, and workplace dynamics.

His most recent book, THE FRICTION PROJECT: How Smart Leaders Make the Right Things Easier and the Wrong Things Harder, co-written with Huggy Rao is focused on scaling and leading at scale. Based on 10 years of research it outlines how to grow organizations, it suggests something really compelling: you know we all almost by default think we should be strive to build a “frictionless organization” to drive agility and efficiency.

Bob points out that friction is not bad on its own. In fact, you WANT to create friction to slow down “bad” things while reducing friction to promote good things. This can enhance performance, innovation, and help make sure you fall into the trap of letting bad things grow as the company scales.

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In this episode, he shares:

• How as organizations grow, they become increasingly complex over time and how to mitigate this
• How to identify where to "put in gas" vs. "pump the brakes" to slow down when it comes to new and ongoing initiatives
• Why running at full speed is not always the answer (and the surprising byproduct of doing so)
• What makes collaboration between individual team members and make teams as a whole efficient
• What is changing in the workforce, and what has changed in terms of what makes a good leader in light of that

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Episode Timeline:

00:00—Highlight from today's episode

1:20—Introducing Bob + The topic of today’s episode

3:50—If you really know me, you know that...

5:05—What is your definition of strategy?

7:07—Can you talk to us about the premise of your book, The Friction Project, and its background?

10:50—Could you talk to us about the moments in which friction can be a good thing, or when to apply "gas vs. brakes

16:05—How do you recognize where to apply this idea of velocity vs. slowing down?

18:57—How is it that some teams seem to come together and work seamlessly, while others seem to struggle?

22:57—What is changing in business in terms of leadership, the way people work, etc.?

26:05—Can you talk to us about the importance of reducing frictions, especially in regards to technology?

26:50—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Author Website: bobsutton.net

Email: https://www.bobsutton.net/contact/

LinkedIn: https://www.linkedin.com/in/bobsutton1/

Twitter: https://twitter.com/work_matters

In this episode, Andy Binns, co-founder and Director of Change Logic, and an award-winning author who publishes articles on innovation strategy and execution in established firms is joined by an additional guest, Ellie Amirnasr, director of digital ventures at MANN+HUMMEL, who was a chapter author, alongside Andy, of Corporate Explorer Fieldbook: How to Build New Ventures In Established Companies.

Their work with this just-released 2023 book brings to the forefront the corporate explorer: the individuals within your organization that have the prowess to lead innovation. In this episode, we delve deep into these pioneers brimming with new ideas.

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In this episode, they share:

• What is a corporate explorer, and why are they so advantageous to your organization?
• How you as a leader can create a culture that paves the path for success for corporate explorers to innovate
• The recipe and ingredients that spark innovation within an organization
• and the distinct stages of innovation projects, and what metrics to consider when deciding to continue funding a project at each stage

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Episode Timeline:

00:00—Highlight from today's episode

1:18—Introducing Andy & Ellie + The topic of today’s episode

2:34—If you really know me, you know that...

5:33—What is your definition of strategy?

8:30—Could you talk to us about your organization, qlair?

9:52—Could you define a "corporate explorer" for us?

11:20—What are some of the aspects that an organization needs to have in place to enable corporate explorers?

13:59—What are some shifts that leaders need to make to allow for corporate explorers?

17:53—Could you lead us through the stages of a new venture and how it relates to decision-making and funding?

26:44—What is the mechanism that makes it more likely to be successful if you state your goals and metrics at the beginning?

29:13—What is the biggest mistake you see corporate explorers make that you could advise them on?

31:14—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Book Website: https://www.thecorporateexplorer.com/

LinkedIn: Ellie Amirnasr, Andy Binns

Shannon Banks is managing director of Be Leadership, and an award-winning facilitator, consultant, and coach. A pioneer in the field of social leadership, she founded her company in 2014 to help organizations bring their purpose to life through their people. In this episode, we'll dive into her steadfast belief that it is leaders that have the power to ignite purpose through social leadership.

Shannon has delivered quality, bespoke work to diverse clients across many sectors, including Roche, BNP Paribas, and the UK House of Commons and has partnered with world-changing organizations such as Teach for India, Grameen Foundation, and Siel Bleu.

She spent twenty years in the technology industry, including seventeen years at Microsoft where she held a variety of global leadership roles across the business and HR. She has won international awards for her work in leadership development and talent management and is a sought-after public speaker.

She is coauthor of the third edition of the field-defining book Optimizing the Power of Action Learning. Her forthcoming book Because: 12 Essential Skills for Connecting How you Lead with Why will be released October 2023.

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In this episode, she shares:

• The 12 leadership traits that can elevate you as a leader—both relationship-based and contextual-based
• Why now, more than ever, being a social leader is critical as technology cements itself into our work environment
• The difference between strengths, values and passions—and how they intermingle to optimize your purpose

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Episode Timeline:

00:00—Highlight from today's episode

00:54—Introducing Shannon + The topic of today’s episode

2:55—If you really know me, you know that...

3:49—What is your definition of strategy?

4:25—Could you talk to us about how your career inspired your book?

5:35—Why did you name your company "BE" leadership?

7:28—Could you lead us through your the 12 skills leaders must have?

9:20—Talk to us about your definition of social leadership

12:40—How can executives find their own purpose to help others to connect to theirs?

16:50—What's a powerful insight you could share for leaders on how to use this passion in the workplace?

18:11—Creating change at scale is incredibly difficult—could you share your story of living in Russia that illustrates this?

22:24—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Author Website: https://shannonbanksauthor.com/

Company Website: https://be-leadership.com/

LinkedIn: https://www.linkedin.com/in/shannon-banks-be-leadership

Twitter: https://twitter.com/ShannonB

In this episode, Matt Abrahams, leading expert in communication with decades of experience as an educator, author, podcast host, and coach shares some of his top insights into strategic communication. He gives us a holistic explanation of what effective communication is, as well as dives into practical daily tips and techniques you can use in any conversation.

As a Lecturer in Organizational Behavior at Stanford University’s Graduate School of Business, he teaches popular classes in strategic communication and effective virtual presenting. He received Stanford GSB’s Alumni Teaching Award in recognition of his teaching students around the world. When he isn’t teaching,

Matt is a sought-after keynote speaker and communication consultant. He has helped countless presenters improve and hone their communication, including some who have delivered IPO road shows as well as TED, World Economic Forum, and Nobel Prize presentations. His online talks garner millions of views and he hosts the popular, award-winning podcast Think Fast, Talk Smart: The Podcast. He is the author of Think Faster, Talk Smarter: How to Speak Successfully When You’re Put on the Spot. His previous book Speaking Up without Freaking Out: 50 Techniques for Confident and Compelling Presenting has helped thousands of people manage speaking anxiety and present more confidently and authentically.

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In this episode, he shares:

• How to craft a careful, concise, audience-centric conversation in any scenario (which, bonus, it reframes the conversation to take the pressure off of you, reducing your anxiety)
• The importance of narrowing your important points to the essentials, while putting the right structure around your conversation to make a conversation, not a presentation
• Practical, yet easy to implement tactics from his book that can transform your communication into being poignant and powerful

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Episode Timeline:

00:00—Highlight from today's episode

1:13—Introducing Matt + The topic of today’s episode

3:01—If you really know me, you know that...

4:27—What is your definition of strategy?

5:53—Can you give us your developed theory on communication?

7:56—Could we talk about Step 2, "structures"?

9:56—Can you explain improv (improvisational) speaking, and its benefits in business speaking?

12:04—Can you give us some improv-based tactics that can help us navigate unexpected disruptions during our presentation, speech, etc.?

14:15—Can you elaborate on your tactic of "chunking"?

15:22—What can you tell us about the idea that "communication is the thinking"?

17:22—How do you see AI changing communication as a communication strategist?

19:37—Talk us about your ideas around calendar invites...

21:19—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Linkedin: https://www.linkedin.com/in/maabrahams

Personal page: https://mattabrahams.com/

Podcast: https://www.gsb.stanford.edu/business-podcasts/think-fast-talk-smart-podcast

Newest Book: https://www.panmacmillan.com/authors/matt-abrahams/think-faster-talk-smarter/9781035024957

Bob Muglia is a data technology investor and business executive, former CEO of Snowflake, and past president of Microsoft's Server and Tools Division. His rich background as a long-time leader in the tech space afforded him the unique position of being on the frontlines of the internet and related tech revolution.

Bob is an advocate that while technology and strategy are important, it is critical to maintain keen awareness of that your people are the critical coupling between digital transformation and your company’s strategic initiatives.

Bob also focuses on how innovation and ethical values can merge to shape the data economy's future in the era of AI and he serves as a board director for emerging companies which seek to maximize the power of data to help solve some of the world's most challenging problems

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In this episode, he shares:

• How a leader's role is to lay an effective strategic plan but in a way that empowers people own the idea like it's their own
• Fascinating insights into his years working with Satya Nadella, and how Microsoft from its inception leveraged partnerships for growth and competitive advantage
• Powerful tips on how you can grow non-core ventures and businesses even from within a slowly-growing company

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Episode Timeline:

00:00—Highlight from today's episode

00:49—Introducing Bob + The topic of today’s episode

2:05—If you really know me, you know that...

3:45—What is your definition of strategy (and the benefit of the weekly meeting)

6:02—Would you be able to characterize the approach to strategy in the Microsoft ecosystem, as you worked with Bill Gates, Satya Nadella and others?

9:18—You were part of the team that saw Satya Nadella's transition into CEO. What characteristics did he exhibit that made you feel that was the right choice?

13:13—What can you share about the ecosystem and partnership strategy Microsoft adopted from early on?

19:14—Could you expound on your views around artificial intelligence from a leadership perspective?

21:31—Could you talk to us about how values play into the rise of AI and sophisticated machines?

23:50—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Newest Book: https://www.thedatapreneurs.com/

Linkedin: https://www.linkedin.com/in/bob-muglia

Twitter: https://twitter.com/Bob_Muglia

Dear listeners, this week we celebrate our 100th episode. We want to take this opportunity to thank you for your support and listenership, as we treat you to a compilation of some of our favorite insights over the past years. Below you'll find a highlights reel broken down into clips in four categories:

CLASSIC STRATEGY: Featuring Rita, McGrath, Richard Rumelt, John Hagel, and Mike Tushman who each share with us timeless ideas around strategy.

LEADERSHIP, CULTURE & WORKFORCE: Featuring Adam Bryant, Ajay Banga, Sally Susman, Johnny C. Taylor, Tiffani Bova, and Elizabeth Altman, who each share critical insights into leadership, our employees, and the quickly changing landscape of the workforce.

VALUE CREATION: Featuring Felix Oberholzer-Gee, Thales Teixeira, Pete Fader, and Mohan Subramaniam, who each share alternative and modern views around value creation.

INNOVATION, TECH & THE FUTURE: Featuring Alex Osterwalder, Rob Wolcott, Vivek Wadhwa, and Faith Popcorn who each share with us insightful ideas around innovation, upcoming trends in tech and society, and the future of business.

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Episode Timeline:

00:34—Special Introduction to 100th Episode from Kaihan

CLASSIC STRATEGY

2:57—Highlight from Rita McGrath: Strategic Planning Amidst Uncertainty

5:24—Highlight from Richard Rumelt: Finding the Crux of Your Strategy

7:01—Highlight from John Hagel: Why You Should "Zoom Out, Zoom In," and Scale From the Edge

9:01—Highlight from Mike Tushman: Why Ambidextrous Organizations Outperform Others

LEADERSHIP/CULTURE/WORKFORCE

10:52—Highlight from Adam Bryant: Good vs. GREAT CEOs—500 Interviews Reveal What Makes the Difference

12:58—Highlight from Ajay Banga: Insights from a Former CEO with Ajay Banga of MasterCard

15:11—Highlight from Sally Susman: Insights from Pfizer's Chief Corporate Affairs Officer in Crafting Public Discourse

17:27—Highlight from Johnny C. Taylor: Trends You Need to Know About the Workforce

19:27—Highlight from Tiffani Bova: Elevating Your EX to Improve Your CX

21:01—Highlight from Elizabeth Altman: Rethinking the Definition of a Workforce in the Modern Era

VALUE CREATION

23:24—Highlight from Felix Oberholzer-Gee: Applying a Value-Based Strategy to Drive Your Business

26:11—Highlight from Thales Teixeira: Decoupling the Customer Value Chain for Competitive Advantage

28:36—Highlight from Pete Fader: Becoming a Customer-Centric Business

30:49—Highlight from Mohan Subramaniam: The Future of Competitive Strategy and the Evolving Role of Data, Customers and Digital Ecosystems

INNOVATION, TECH & THE FUTURE

33:46—Highlight from Alexander Osterwalder: How Investing in Culture Ecosystems Leads to Innovation

35:57—Highlight from Rob Wolcott: The Power of Proximity in your Strategy

38:31—Highlight from Vivek Wadhwa: Harnessing Tech for an Innovative Future

40:24—Highlight from Faith Popcorn: Predictions to Know From a Leading Futurist

42:34—Closing and Thank you

Daniel Trabucchi is the co-author, with Tommaso Buganza, of Platform Thinking: Read the past. Write the future.

He is Senior Assistant Professor at the School of Management of Politecnico di Milano where he fosters research and teaches at the intersection between innovation management and leadership, with a strong focus on platform thinking and the human side of innovation.

He is the co-founder of Symplatform, the international symposium on digital platforms that aims to match managers and academics coming from various disciplines and he is the co-founder and scientific director of Platform Thinking HUB the observatory that aims to help established firms in finding innovation opportunities through platforms.

Finally, he co-hosts with Philip Meier “Talking About Platforms,” the podcast where the latest research on platforms is featured and spread. His work has been featured by outlets such as Journal of Product Innovation Management, Technovation, Technological Forecasting and Social Change and many others, but he aims to make scientific research as accessible as possible, so—in addition to the book—his platform knowledge can be found also on Coursera in four courses under the title of “platform thinking."

The idea of value creation has come a long way—where we used to think of providing value along a linear chain for stakeholders, platforms open up an incredible amount of possibilities in making customers and other stakeholders active participants—not only the end-receivers—of value creation.

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"This is the power of platform thinking. You've got the brand. You've got the customers. You've got resources. If you find the right idle assets in your organization, you could actually use platforms as a new way to perceive a value creation."

-Daniel Trabucchi

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In this episode, he shares:

• The definition of a platform, and how it has changed over time—and how it expands past what we have all come to think of as the archetype of platforms, digital ones like Airbnb and Uber.
• Four types of platforms, and how the core of each one, despite their distinct differences, is to create value between users.
• How it’s not just the startups who can utilize platforms—established organizations have many assets to leverage in getting into the platform space
• How platforms offer the opportunity for business leaders to reevaluate their business model with fresh eyes, challenging traditional labels and considering alternate perspectives

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Episode Timeline:

00:00—Highlight from today's episode

1:08—Introducing Daniel + The topic of today’s episode

2:42—If you really know me, you know that...

3:51—What is your definition of strategy?

4:21—Let's start with the foundation—how do you define a platform?

8:07—Could you describe the four types of platforms?

13:12—What are some of the mindset changes that need to happen for people to see these different ways to use platforms in value creation?

19:04—What are the first steps to take in creating or plugging into a platform?

21:40—How can people follow you and connect with you to continue learning from you?

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Additional Resources:

Linkedin: https://www.linkedin.com/in/daniel-trabucchi-a7891566/

Email: [email protected]

Newest Book: https://platformthinking.eu/