HBR IdeaCast
What Venture Capitalists Can Teach Companies About Decision-Making
May 28, 2024
Ilya Strebulaev, a Stanford Graduate School of Business professor and co-author of 'The Venture Mindset', shares insights from his expertise in venture capital. He discusses how established companies can learn from the risk-taking and agile decision-making of VCs. Emphasizing the importance of structured debates and challenging consensus, he reveals practical strategies to optimize decision-making. Strebulaev advocates for a cultural shift in larger organizations to embrace a venture mindset, ultimately promoting innovation and growth.
27:04
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Quick takeaways
- Venture capitalists prioritize strategic decision-making over individual projects, emphasizing a portfolio of bets to drive success.
- Large companies can learn from VC firms by embracing risk, inviting disagreement, and staying agile in decision-making.
Deep dives
Value of Venture Capital to Success
Venture capital plays a significant role in the success of new large companies over the last 50 years, including renowned companies like Apple, Google, and Netflix. Ventures backed by venture capitalists create competitive pressure for traditional companies, necessitating the adoption of a venture mindset to innovate and respond effectively to disruption.
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