Scott Stephenson, CEO of Verisk Analytics, discusses cultivating innovative ideas in business, being ambitious and humane as Christians, and the story that made him mention Jesus whenever possible. The podcast explores the three buckets of product development, qualities of world-class leaders, rewards for work, book recommendations, faith-influenced work, and understanding God's common grace.
Innovation in business can take three forms: product enhancement, process improvement, and invention, and each requires different ways of thinking and organizing.
Creating an environment that inspires creativity and promotes breakthroughs involves seeking diverse experiences, getting out of one's comfort zone, and practicing associative thinking.
Deep dives
The Power of Innovation in Business
In this podcast episode, Scott Stevenson, CEO of Varysk Analytics, discusses the importance of innovation in business. He highlights how innovation can take three forms: product enhancement, process improvement, and invention. Stevenson emphasizes the need for all three forms of innovation and explains how they require different ways of thinking and organizing. He also discusses the balance between ambition and humanity in business and the story that led him to say the name of Jesus whenever possible in his leadership role.
Keys to Managing Innovation in a Large Company
Stevenson shares insights on how to encourage and manage innovation in a large company. He emphasizes the importance of continually going back to the big ideas and values of the company, and asking for innovation from the team. He highlights the need for both financial and emotional support for innovation, as well as the importance of staying committed during the early stages of innovation projects.
Creating an Environment for Creative Breakthroughs
Stevenson discusses the importance of creating an environment that inspires creativity and promotes creative breakthroughs. He highlights the value of associative thinking and observing things outside of one's normal pattern. Stevenson suggests spending time with customers, getting out of one's comfort zone, and seeking diverse experiences and observations to stimulate creativity and innovation.
The Impact of Faith on Work and Leadership
Stevenson shares how his faith as a Christian influences his work and leadership. He references Bible verses on giving an answer for the hope one has, as well as the importance of living out one's values and modeling the values of the organization. Stevenson also emphasizes the significance of energy, passion, and commitment in leadership, as well as the need to prioritize relationships, including family, church, and community involvement.
Jordan Raynor sits down with Scott Stephenson, CEO of Verisk Analytics (VRSK), to talk about how to cultivate innovative ideas, how Christians can be both “ambitious and humane” in business, and the story that convinced Scott to say the name of Jesus whenever possible, even when leading a public company.