Thinkers & Ideas The Invincible Company with Alex Osterwalder
May 8, 2020
In this episode, Alex Osterwalder, a pioneer in business strategy and coauthor of The Invincible Company, shares insights on how businesses can reinvent themselves. He emphasizes the importance of balancing exploration and exploitation in innovation. Alex argues that many small bets yield better results than a single large investment and highlights practical barriers faced by large corporations. He also discusses the necessity of adaptability in the post-COVID landscape, showcasing effective strategies for testing new business models quickly.
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Make Many Small Bets
- Make many small exploratory bets and double down only on those showing traction.
- Invest broadly: venture data suggests roughly 250 small bets to produce one outlier.
Elevate Innovation To Leadership
- Give innovation real power and strategic clout inside the company.
- Promote or create a chief entrepreneurial role with authority equal to execution leaders.
Ping An's Co-CEO For Exploration
- Ping An appointed a co-CEO to lead exploration and become a technology player.
- The founder gave Jessica Tan co-CEO power to run exploration across new arenas.
