Stefan Michel, a professor of marketing and strategy at IMD Business School, dives into the essentials of not just creating but capturing value in business. He argues that many companies miss the mark by focusing solely on innovation without a strategy to capture that value. Michel shares a framework for defining the value of innovations and highlights real-world examples from companies like Nespresso and Google. He discusses value-based pricing, collaborative strategies, and the need to rethink innovation for enhanced competitive advantage.

Stefan Michel, professor at IMD, says your business should rethink how it captures value, not just how it creates it.