The Importance of Trade-Offs in Strategy

In a world of either/or tradeoffs, it sometimes pays to explore the possibility of and/or. By changing our perspective and embracing paradox, we can see possibilities that were obscured by our tendency to see only tradeoffs.

Wendy K. Smith is the Dana J. Johnson Professor of Business at the University of Delaware and co-founder of the Women's Leadership Initiative. She is also an author, and with Marianne Lewis, their latest book is Both/And Thinking: Embracing Creative Tensions to Solve Your Toughest Problems, about how to navigate the inevitable paradoxes and demands of life and the world.

Wendy and Greg discuss Wendy’s book and what she has learned about paradoxes and the changes made possible when you replace ‘Either/Or thinking with ‘Both/And’ thinking. They discuss this approach and how you can learn from fields as diverse as philosophy, therapy, and improv, as well as Wendy’s three conditions of Change, Plurality, and Scarcity.

Gregory LaBlanc is a lifelong educator with degrees in History, PPE, Business, and Law, Greg currently teaches at Berkeley, Stanford, and HEC Paris. He has taught in multiple disciplines, from Engineering to Economics, from Biology to Business, from Psychology to Philosophy. He is the host of the unSILOed podcast. unSILOed is produced by University FM.

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