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Outthinkers

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Dec 10, 2021 • 24min

#32—Ben Gomes-Casseres: Mastering the Three Rules of Business Combinations

Ben Gomes-Casseres has worked on partnership strategies for thirty years, as a researcher, teacher, and advisor. A professor at Brandeis University, Ben directs the Asper Center for Global Entrepreneurship. Previously, he was at Harvard Business School and at the World Bank. Ben has published five books and many articles and case studies on M&A, alliances, and joint ventures, and his views have appeared widely in the business press. Ben helps companies create value from external resources by improving the way they manage partnerships. He holds degrees from Harvard, Princeton, and Brandeis. A native of Curaçao, he speaks four languages, and his work can be found at www.remixstrategy.com. His newest book is Remix Strategy: The Three Laws of Business Combinations. He also offers two online courses on Linked-In Learning (Lynda.com): “Strategic Partnerships” and “Ecosystems and Platforms.” In this podcast he shares: Why the future of competition is not firm to firm but rather ecosystem to ecosystem The three rules you must master to win an ecosystem-based competition How to think about the decision of which ecosystems to join, and how much value you can sustainably extract … which by the way has been one of the top questions members of our network of chief strategy officers have be thinking about. __________________________________________________________________________________________-Ben Casseres-Gomes__________________________________________________________________________________________Episode Timeline:00:00—Ben Gomez + The topic of today’s episode2:05—If you really know me, you know that....3:10—What is your definition of strategy?5:24—Could you tells us more about your concept of "business combinations"?6:58—What are the "rules" so to speak about the blurred lines between B2B and B2C in this new ecosystem business environment?8:50—Could you describe the difference between an ecosystem and a platform?11:28—Could you walk us through the three rules of ecosystems?13:16—How does the "pie" get divided so all players get an equal amount of value?15:12—Tell us about branding. Can an ecosystem have a brand?17:53—Could you tell us a little more about the "one plus one" rule?19:38—What do people usually get wrong? 21:23—How can people follow, find and learn from you?__________________________________________________________________________________________Additional Resources: Company page: www.alliancestrategy.comTwitter: https://twitter.com/bencasseresLinkedIn: https://www.linkedin.com/in/bengomescasseresBrandeis Faculty Page: https://www.brandeis.edu/facultyguide/person.html?emplid=d6dac7e5051c516ace0f11fbc430d0cd13c40dcfThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Dec 3, 2021 • 18min

#31—Fred Reichheld: How Companies Can Recapture the True Value of the NPS

Fred Reichheld is the creator of the Net Promotor Score (or NPS). He is a Bain Fellow and the founder of their Loyalty practice, which helps companies achieve results through customer and employee loyalty. His work in the area of customer and employee retention has quantified the link between loyalty and profits. He's authored numerous best-selling books including The Loyalty Effect, Loyalty Rules!;  and The Ultimate Question 2.0: How Net Promoter Companies Thrive in a Customer Driven World. His work has been widely covered in outlets like The Wall Street Journal, New York Times, Financial Times, Fortune, Business Week and The Economist.  Consulting Magazine  chose Fred as one of the “25 Most Influential Consultants”. According to The New York Times, "[He] put loyalty economics on the map." The Economist refers to him as the "high priest" of loyalty. This episode covers key take-aways from his most recent book: Winning On Purpose: The Unbeatable Strategy of Loving Customers. In this podcast he shares: How too many companies misuse—even abuse—NPS Lessons from companies like Apple Retail, Philips, Schwab, Allianz, American Express, and Intuit who get it rightWhy our historical view on capitalism is fading and why the emerging concept of capitalism will lead you to being truly customer-centric Why focusing on investor returns or even employee happiness is short-sighted And why establishing and truly living a core purpose is fundamental to your company’s long-term success __________________________________________________________________________________________-Fred Reichheld__________________________________________________________________________________________Episode Timeline:00:00—Introducing Fred Reichheld + The topic of today’s episode2:07—What made you revisit your idea of NPS?2:47—How are companies misusing NPS?3:54—Why do the ideas about focusing on various themes that aren't centered around the customer, never work out?5:25—Can you define the golden rule?6:22—How do you overcome the resistance to the language of what many consider "soft skill" language?8:28—What metrics should we be starting to embrace?11:10—Can you give us an indicator or metric that can help us gauge how much we're learning?12:54—What is the role of culture and values in this topic?15:40—Could you explain how capitalism fits into all of this?17:01—How can people follow, find and learn from you?__________________________________________________________________________________________Additional Resources: Company page: https://www.bain.com/our-team/fred-reichheld/Twitter: https://twitter.com/FredReichheldLinkedIn: https://www.linkedin.com/in/fredreichheldNewest Book: Thank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Nov 26, 2021 • 21min

#30—Peter Cappelli: HR Trends and Best Practices in the Post-Covid Workforce

Peter Cappelli is the George W. Taylor Professor of Management at The Wharton School and Director of Wharton’s Center for Human Resources. He is also a Research Associate at the National Bureau of Economic Research in Cambridge, MA, served as Senior Advisor to the Kingdom of Bahrain for Employment Policy from, was a Distinguished Scholar of the Ministry of Manpower for Singapore, and was Co-Director of the U.S. Department of Education’s National Center on the Educational Quality of the Workforce. He was recently named by HR Magazine as one of the top 5 most influential management thinkers, by NPR as one of the 50 influencers in the field of aging, and was elected a fellow of the National Academy of Human Resources. He is a regular contributor to The Wall Street Journal and writes a monthly column for HR Executive magazine. His recent work on performance management, agile systems, and hiring practices, and other workplace topics appears in the Harvard Business Review. In this podcast he shares: Insights on remote working: When does it work? Will we ever all go back to the office post-COVID? Gig workers: how do you manage them? Temp workers: why using them can decrease morale Psychological safety: can you ever have too much of it? __________________________________________________________________________________________"When you feel extremely safe, it's kind of like saying the guardrails are off. Now, I suppose if you're a true believer in psychological safety, you would say that there are other ways where you could keep the guard rails on—clear standards and clear norms, a strong culture, that sort of stuff—and we found some evidence for that. Then you get this situation where there's so high of a space psychological safety, that people's performance begins to slide. Not too surprising, too much of good things, in many cases, don't end up being so great."-Peter Cappelli __________________________________________________________________________________________Episode Timeline:00:00—Introducing Peter Cappelli + The topic of today’s episode1:45—If you really know me, you know that...2:20—What is your definition of strategy?2:58—What got you interested in your topic, and could you tell us about your recent work for your new book?4:30—Could you describe some of the big gaps in tradeoffs between employees and companies?7:15—What lessons do we have from companies that have gone fully remote?8:38—Is there something we can learn from history about what happens when there is no longer a competitive labor market?11:00—When labor markets are tight, and then aren't, do they revert back to the norm, or are we entering a new kind of contract between employer and employees?13:08—Do companies compare their wages to market average value often? Are there drawbacks to not doing so?15:15—What are the differences in how you manage gig or contract workers and employees, could you elaborate on that?17:10—Could you talk about psychological safety? Is the approach "more is always better" valid?18:28—Where can people follow your work and find you?__________________________________________________________________________________________Thank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Nov 19, 2021 • 19min

#29—Dan Toma: Implementing, Managing and Measuring Innovation in the Corporate Startup

Dan Toma is an innovation thought leader and the co-author of two of my favorite books on innovation. The award-winning book The Corporate Startup, (awarded "Management Book of the Year for Innovation and Entrepreneurship" by Chartered Management Institute and The British Library in 2018) and his latest, Innovation Accounting. Dan started his career in entrepreneurship, being involved with technology startups across the world. Puzzled by the questions "Why are innovative products mainly launched by startups?," together with his team at the consultancy company OUTCOME, he focuses on enterprise innovation transformation. Specifically on the changes blue-chip organizations need to make to allow for new ventures to be built in a corporate setting. A big proponent of the ecosystem approach to innovation, Dan has also worked with various government bodies, in Asia and Europe, helping develop national innovation ecosystems and implement national innovation strategies. Most noteworthy is his work in the economic aid program of the Finnish Ministry of Foreign Affairs in Vietnam where he helped design and manage a nationwide business acceleration program and supported the capability development activities. Dan was also featured on the Thinkers50 2020 Radar list of "Management Thinkers to Watch," while also being a member of the World Economic Forum’s working group on accelerating digital transformation. In this podcast he shares: Why the traditional financial metrics we use to manage our core business are inappropriate for measuring innovation.While many people say things like “you have to measure innovation differently” or “we need to start measuring learning rather than revenue for innovation to work,” Dan gives us really tangible, practical advice on how to measure the right things.He also argues that we should not be focused on big “moon shot” ideas and what we should be focused on instead.__________________________________________________________________________________________"There's a gap in the market. There's a lot that talks about employees.There's a lot that talks about customers, and then loosely we'll talk about them together. But what is the value? We went out and did some primary research, and we found that brands that do that really well in the U.S. is 1.8X faster growth rates. For a billion-dollar brand, it's a $40-million impact."-Dan Toma__________________________________________________________________________________________Episode Timeline:00:00—Introducing Dan Toma + The topic of today’s episode2:32—If you really know me, you know that...2:50—What is your definition of strategy?4:40—What got you interested in strategy?5:27—What are you most known for?5:56—Could you tell us about how Covid-19 has shifted companies' approach to innovation?8:59—What are some of the pitfalls of financial accounting?11:10—Can you give us an indicator or metric that can help us gauge how much we're learning?12:50—How do you measure a learning? 13:30—What do people get wrong? 14:50—What's the error in measuring innovation of "moon shot" ideas?16:00—What's something you've changed your mind about?17:13—Could you describe the framThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Nov 12, 2021 • 23min

#28—Tiffani Bova: Modernizing Your Company Strategy to Increase Your Growth IQ

Tiffani Bova is the chief growth evangelist at Salesforce and the author of the Wall Street Journal bestselling book GROWTH IQ: Get Smarter About the Choices that Will Make or Break Your Business. Tiffani has been named to the latest Thinkers50’s list of the world’s top management thinkers and is a welcomed guest on Bloomberg, BNN, Cheddar, MSNBC, and Yahoo Finance, among others. She also contributes her thinking to publications including Harvard Business Review, Forbes, Entrepreneur, Quora, Thrive, among others. She is a change-maker who’s thought-provoking and forward-thinking insights have made her a frequent guest on a variety of industry-leading podcasts and live broadcasts. She’s also a host of her own podcast, What’s Next! with Tiffani Bova, an iTunes’ all-time business and management bestseller and a top sales podcast according to Top Sales Magazine. Tiffani has interviewed a growing number of exceptional humans including Arianna Huffington, Dan Pink, Seth Godin and Tom Peters. She's also considered a top Twitter influencer in Business Growth, Customer Experience, Digital Transformation, the Future of Work, and Sales. She was named one of Inc. Magazine’s 37 Sales Experts You Need to Follow on Twitter, a LinkedIn Top Sales Expert to Follow in 2018, 2019 and 2020, and a Top 100 Women in Tech.In this podcast she shares: What it takes to increase your Growth IQ Why its critical today to be a “master asker” And why after deeply studying product and sales strategies, she is now turning her attention to employees__________________________________________________________________________________________"There's a gap in the market. There's a lot that talks about employees.There's a lot that talks about customers, and then loosely we'll talk about them together. But what is the value? We went out and did some primary research, and we found that brands that do that really well in the U.S. is 1.8X faster growth rates. For a billion-dollar brand, it's a $40-million impact."-Tiffani Bova__________________________________________________________________________________________Episode Timeline:00:00—Introducing Tiffani Bova + The topic of today’s episode2:20—If you really know me, you know that...3:18—What is your definition of strategy?4:38—Could you give us background on Growth IQ, your most well-known concept?7:53—What's something that appears on your paths to growth that in wasn't included before?9:59—Could you characterize what makes Salesforce something beyond CRM?12:15—What made you decide to focus on business growth?16:16—What are you working on now?18:10—What should strategists do next, and how can we connect with you?__________________________________________________________________________________________Additional Resources: Personal page: https://www.tiffanibova.com/Twitter: https://twitter.com/Tiffani_BovaLinkedIn: https://www.linkedin.com/in/tiffanibovaInstagram: Thank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Nov 5, 2021 • 20min

#27—Michael Tushman: Why Ambidextrous Organizations Outperform Others

Michael Tushman is a Baker Foundation Professor, Paul R Lawrence Professor Emeritus, and faculty chair of the Advanced Management Program (AMP) at Harvard Business School. He is also a founding director of Change Logic, a Boston-based strategic advisory firm. Michael is internationally recognized for his work on the relations between technological change, executive leadership and organization adaptation, and for his work on innovation streams and organization design. Mike is an active business consultant and educator, working with CEOs and senior teams around the world. Mike leads several Harvard Business School's premier learning opportunities for executives. In addition to AMP, he is faculty co-chair of Leading Change and Organizational Renewal and is a former Faculty Chair for the Professional Leadership Development Program. He also teaches on the Business Analytics Program, HBS’s first online only program. Mike’s publications include Lead and Disrupt, Winning Through Innovation: A Practical Guide to Leading Organizational Renewal and Change, both with Charles O’Reilly; and Corporate Explorer: how corporates beat startups at the innovation game with Andy Binns. In this podcast he shares: How to structure a company so it can simultaneously exploit your current business and explore new businesses The definition of an ambidextrous organizationWhy it's so critical that you think about your firm's “identity” and purpose And why the greatest barrier to your ability to innovate may be dealing with “identity threats” __________________________________________________________________________________________"My experience with ambidexterity is the structure is pretty trivial. You just put the past in the future. Oftentimes the reason that ambidextrous structures fail is that the senior team cannot deal with the paradox and tensions and contradictions associated with both exploiting and exploring simultaneously. So I would beg the strategy types in the room to help your colleagues attend to inconsistent strategies simultaneously in service of the overarching identity and help their colleagues deal with tension in the room is that is not there exploit always kills, explore."-Michael Tushman__________________________________________________________________________________________Episode Timeline:00:00—Introducing Michael Tushman + The topic of today’s episode2:38—If you really know me, you know that...2:01—What is your definition of strategy?4:50—What are you most well-known for?7:25—Could you explain to us the concept of an ambidextrous organization?10:15—How do you find leaders that can manage the tension between exploit and explore?15:40—Could you explain how explore companies differ in how they shape the context and rules?16:50—Could you explain a little more about this identity conflict that companies experience?19:18—What are you working on now and how should people connect with you?__________________________________________________________________________________________Additional Resources:Faculty Page at HBS: https://www.hbs.edu/faculty/Pages/profiThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Oct 29, 2021 • 24min

#26—Felix Oberholzer-Gee: Applying a Value-Based Strategy to Drive Your Business

Felix Oberholzer-Gee is the Andreas Andresen Professor of Business Administration at Harvard Business School. An award-winning instructor, his academic work has been published in the very best, peer-reviewed journals of his profession. He currently teaches competitive strategy in executive education programs such as the Harvard General Management Program. He also serves as faculty chair of the Senior Executive Leadership Program for China and the Driving Digital Strategy program. He is a cohost of the popular HBR Presents podcast, After Hours. His most recent book Better, Simpler Strategy, Felix is one of the most compelling, complete, and yet, simple strategy books out there. He shows how successful companies that appear to be in very similar businesses – say Home Depot and Lowes - dramatically outperform their rivals. At a time when rapid technological change and global competition conspire to upend traditional ways of doing business, these companies pursue radically simplified strategies focused on value. In this podcast he shares: Why focusing on differentiating our value proposition for customers misses half of the opportunity (we should be equally focused on employees and suppliers).Why we so often confuse “complements” with “substitutes”—for example, we thought music streaming would kill the music business, but it actually had the opposite effect.A simple, immediately-actionable framework design a strategy that maximized the value of your firm.__________________________________________________________________________________________"There are two key ideas: One is value creation for customers, and that is just ways to increase willingness to pay for your customers. Willingness to pay is the most a customer would ever be willing to pay for a product or a service. We want to make sure that we do the kinds of things that increase value where value is the difference between willingness to pay the most the customer is willing to pay verses the actual price for a better camera in your smart phone, and the actual price that we charge."-Felix Oberholzer-Gee__________________________________________________________________________________________Episode Timeline:00:00—Introducing Felix Oberholzer-Gee + The topic of today’s episode1:54—If you really know me, you know that...2:01—What is your definition of strategy?3:22—What are you most well-known for?5:18—Could you walk us through your framework of what value-based strategy is?10:15—Differentiating your offer to increase willingness to pay13:10—What is the right amount of value to capture?17:40—What is a favorite framework or tool you have?19:50—Applying the value of differentiation to more than just marketing23:00—How should people connect with you?__________________________________________________________________________________________Additional Resources:Faculty Page at HBS: https://www.hbs.edu/faculty/Pages/profile.aspx?facId=251462LinkedIn: https://www.linkedin.com/in/felixThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Oct 22, 2021 • 23min

#25—Liz Wiseman: Unleashing the Talents of Your Company's 'Impact Players'

Liz Wiseman is a researcher and executive advisor who teaches leadership to executives around the world. I first met her in 2010 when she had just published her New York Times bestseller Multipliers: How the Best Leaders Make Everyone Smarter. I’ve been following her work since, as she published The Multiplier Effect and Wall Street Journal bestseller Rookie Smarts. In this podcast we are going to dig into her latest book, Impact Players: How to Take the Lead, Play Bigger, and Multiply Your Impact. Liz is the CEO of the Wiseman Group, a leadership research and development firm headquartered in Silicon Valley, California. Some of her recent clients include: Apple, AT&T, Disney, Facebook, Google, Microsoft, Nike, Salesforce, Tesla, and Twitter. Liz has been listed on the Thinkers50 ranking and in 2019 was recognized as the top leadership thinker in the world. She has conducted significant research in the field of leadership and collective intelligence and writes for Harvard Business Review, Fortune, and a variety of other business and leadership journals. She is a frequent guest lecturer at BYU and Stanford University and is a former executive at Oracle Corporation, where she worked as the Vice President of Oracle University and as the global leader for Human Resource Development. Have you every found yourself in a situation in which you are working hard, feeling overwhelmed, but you realize you are spinning your wheels and not actually having impact? Yet, somehow, there is that person on your team who is able to avoid the distractions, focus on the right things, and make a breakthrough impact?These are called impact players, and Liz has dedicated her last years of research into discovering what makes them unique.In this podcast she shares: What impact players are, and how they differ from othersSecrets of these stellar professionals drawn from a two-year studyThe five mindsets of impact players__________________________________________________________________________________________"In the process of studying leadership and trying to teach this, I came to this realization, and if I've learned anything in my research, it is this: It's not about leadership; it's about contributor-ship. And that is, that people come to work every day desperately wanting to contribute everything they have. When people talk about the experience working for a diminishing leader, they're like, "It was painful, and it was exhausting." Being only able to give 50% of your know-how and capability was exhausting, and demoralizing."-Liz Wiseman__________________________________________________________________________________________Episode Timeline:00:00—Introducing Liz Wiseman+ The topic of today’s episode2:50—If you really know me, you know that...3:30—What is your definition of strategy?4:22—What are you most well-known for?6:09—Could you give us an example of a habit a diminisher might exhibit unconsciously?8:33—Why did you choose "impact players" as your next area of research?11:01—Clarifying the five practices of impact players 12:20—Figuring out the "job to be done"13:03—Impact players step up and lead14:52—Moving things across the finish16:18—Learning and adapThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Oct 15, 2021 • 20min

#24—Johnny C. Taylor, Jr.: Trends You Need to Know About the Workforce

Johnny C. Taylor, Jr., is President and Chief Executive Officer of SHRM, the Society for Human Resource Management. With over 300,000 members in 165 countries, SHRM is the largest HR professional association in the world, impacting the lives of 115 million workers every day. As a global leader on the future of employment, culture and leadership, Johnny is a sought-after voice on all matters affecting work, workers and the workplace. He is frequently asked to testify before congress on critical workforce issues and authors the weekly USA Today column, "Ask HR." Johnny’s career spans over 20 years as a lawyer, human resources executive and CEO in both the not-for-profit and for-profit space. He has held senior and chief executive roles at IAC/Interactive Corp, Viacom's Paramount Pictures, Blockbuster Entertainment Group, the McGuireWoods law firm, and Compass Group USA. He was appointed chairman of the President's Advisory Board on Historically Black Colleges and Universities and served as a member of the White House American Workforce Policy Advisory Board during the Trump Administration. In this episode, it's worth nothing that all of his projections are fact-based, not conjecture, built on a large database of employment data SHRM has been collecting for decades. In this podcast he shares: Some fascinating, counterintuitive insights about Generation Z. Hint: They actually care a lot about money.A breakdown of the macro policy structural barriers that are going to have to be removed if organizations are going to create workplaces that will work in the future Practical, first steps CEOs, Strategists, and leaders can take to begin resetting their culture __________________________________________________________________________________________"I have a shorthand definition of what culture is, and it's how things really work around here. How things get done, not how they should or how you want them to. So number one, and just practical thing I would say to anyone listening is you've got to sit down and you've got to engage in introspection."-Johnny C. Taylor, Jr.__________________________________________________________________________________________Episode Timeline:00:00—Introducing Johnny C. Taylor, Jr. + The topic of today’s episode2:28—If you really know me, you know that...2:47—What is your definition of strategy?3:47—Is strategy changing in nature to being made more spontaneously and spread out, and what's causing it?6:02—What are the top one or two shifts in strategy that a strategist or CEO needs to be thinking about?8:44—How would you characterize how Gen Z is different in the way they think about work?12:00—What can strategists and CEOs to rethink the way that the definition or a 'worker' is changing?15:01—How can a strategist or CEO if their company needs a cultural reset?16:42—Among all the frameworks on culture, what's your go-to first step or driver in shifting culture?18:42—How can people connect and keep learning from you?__________________________________________________________________________________________Additional Resources:SHRM Website: https://www.shrm.org/PThank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast
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Oct 8, 2021 • 21min

#23—Pete Fader: Becoming a Customer-Centric Business

Pete Fader is the Frances and Pei-Yuan Chia Professor of Marketing at The Wharton School of the University of Pennsylvania. His expertise centers around the analysis of behavioral data to understand and forecast customer shopping and purchasing activities. He works with firms from a wide range of industries, including telecom, financial services, gaming/entertainment, retailing, and pharmaceuticals. He’s the author of Customer Centricity: Focus on the Right Customers for Strategic Advantage and co-authored The Customer Centricity Playbook with Sarah Toms.Pete co-founded a predictive analytics firm (Zodiac) in 2015, which was sold to Nike in 2018. He then co-founded and continues to run Theta Equity Partners to commercialize his more recent work on “customer-based corporate valuation," a simple but powerful idea, that you can value any company by adding up the value of its individual customers. He has won numerous awards for his research and teaching accomplishments. Among these achievements, he was named by Advertising Age as one of its inaugural “25 Marketing Technology Trailblazers” in 2017, and was the only academic on the list. In this podcast he shares: What customer lifetime value is, and why it should be the central driver of your strategy A challenge to the idea that you should treat all customers equally well The first set of steps you should take to begin becoming a truly customer-centric business __________________________________________________________________________________________"Of the portfolio things we sell, here's the next thing that you should buy. That's not customer centricity. I mean, it can be if they love us, and they really do want to buy all of our things in sequence, but in a lot of cases, that's not the way it works. So it really is figuring out who are those valuable customers? And what are their broader wants and needs beyond just the stuff that we sell to them?"-Pete Fader__________________________________________________________________________________________Episode Timeline:00:00—Introducing Pete Fader + The topic of today’s episode2:05—If you really know me, you know that...2:38—What is your definition of strategy?3:21—What are you most known for?4:37—Could you define customer centricity?6:00—What's a company that models being customer-centric well?9:15—How do you identify who the most valuable customers are? 15:05—Can B2B companies apply these principles as well? 17:57—What's something that you've changed your mind about?19:05—What last thoughts do you want to leave us with?__________________________________________________________________________________________Additional Resources:Twitter: https://twitter.com/faderpLinkedIn: https://www.linkedin.com › peterfaderFaculty Page: https://executiveeducation.wharton.upenn.edu/faculty/peter-fader/Thank you to our guest. Thank you to our executive producer, Karina Reyes, our editor, Zach Ness, and the rest of the team. If you like what you heard, please follow, download, and subscribe. I'm your host, Kaihan Krippendorff. Thank you for listening.Follow us at outthinkernetworks.com/podcast

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