INSEAD Knowledge Podcast

Capitalism's current troubles did not begin with Covid-19, but the pandemic has further exposed the grave consequences of inequality in developed economies and the fragility of global value chains. Populist movements (on both the left and right) are intensifying their demands that Adam Smith's "invisible hand" be assigned a local habitation and a name. Moreover, the harsh business lessons of Covid (PPE shortages, operational shutdowns, etc.) cast some doubt on the core tenets of globalisation.Robert U. Ayres, INSEAD Emeritus Professor of Economics and Political Science and Technology Management, joins us to discuss how the USA's post-WWII capitalist hegemony lost its way in the late 20th century, and what can be done to restore capitalism's global credibility in the face of Covid-19. In his new book, "On Capitalism and Inequality: Progress and Poverty Revisited", Ayres argues that the moral and ethical decline began with the rise of Wall Street speculation, which increasingly caused the world economy to resemble a poker game with dizzying stakes, rigged in favour of the wealthy and powerful. To re-establish a sense of fairness, Ayres recommends a familiar remedy: universal basic income, otherwise known as UBI. Unlike many UBI proponents, however, Ayres has a robust, provocative answer to the pertinent question of how it can be paid for.Read more: https://knowledge.insead.edu/economics-finance/how-universal-basic-income-could-save-capitalism-14941

Leadership has two faces -- there's the glamorous side that happens in the spotlight, and the less obvious work that goes on behind the scenes. Both are crucial, but leadership literature has increasingly stressed the public face at the expense of the more technocratic one. To borrow terminology from seminal organisational theorist James March, it focuses on the poetry of leadership and often neglects the plumbing. Charles Galunic, INSEAD Professor of Organisational Behaviour, sheds light on the more obscure face of leadership in his new book Backstage Leadership: The Invisible Work of Highly Effective Leaders. He encourages leaders to concentrate on five core processes: scanning and sensemaking, building and locking in commitment, handling contradictions, harnessing culture, and developing talent and capabilities. Though his book was written before Covid-19, he also speaks about the heightened relevance of backstage leadership in light of the pandemic and the resulting economic crisis.Read more: https://knowledge.insead.edu/leadership-organisations/the-two-faces-of-leadership-14646

Luk Van Wassenhove, INSEAD Emeritus Professor of Technology and Operations Management, is one of the world's foremost researchers on business and sustainability. Long before the phrase "circular economy" was widely known, he was partnering with companies to reduce waste in their supply chains. In addition, he has decades of experience helping NGOs improve their delivery of services in some of the most challenging contexts imaginable -- places where, as he puts it, "you might get shot at" in the normal course of humanitarian work. Luk joins us to discuss what he has learned over his eventful career about how to harmonise sustainability and profitability. He also offers insights about the state of the circular economy and other efforts to improve the environmental impact of business in our perilous world.

Even before COVID-19, supply chains were under constant threat from global disruptive events. Demand volatility caused by climate change, trade wars, pandemics, political unrest, etc. stir chaos in the market, as we saw with the waves of panic buying that swept the world along with the coronavirus. Supermarket shelves stripped of toilet paper and other essentials are only the most recent manifestation of the "bullwhip effect", or the amplified impact of relatively small demand changes as they travel through the supply chain. Left to itself, the bullwhip effect can do "horrendous" damage to companies, says V. "Paddy" Padmanabhan, the Unilever Chaired Professor of Marketing at INSEAD. His seminal research about the bullwhip effect has been credited with saving companies billions of dollars every year. Prof. Padmanabhan joins us to discuss how his time-tested insights apply to today's turbulent, uncertain global business climate.

A lot of us are out of our comfort zones right now, both physically and psychologically. While this is an unsettling place to be, it can also lead to more out-of-the-box thinking and breakthrough ideas. In other words, the exceptional conditions of this crisis may help foster the new ideas we need to surmount it. Prof. Li Huang joins us to discuss her extensive research into creativity, recommending three actionable techniques professionals can use to channel their COVID-based discomfort into creative energy.Read more: https://knowledge.insead.edu/leadership-organisations/how-discomfort-makes-us-more-creative-13866

In this Special Edition of the INSEAD Knowledge podcast, our editors sit down with three INSEAD faculty thought leaders working at the cutting edge of public health research. First, Prashant Yadav discusses how medical supply chains are falling short of keeping us safe, the potentially dire consequences in cases of global emergency such as the coronavirus pandemic, and the "social innovators" poised to transform the sector for the better. Second, Theodoros Evgeniou describes the daunting challenges governments face in regulating AI-based medical technologies. Finally, Pierre Chandon explains how food marketing can help tackle another devastating global epidemic -- obesity.Read more: https://knowledge.insead.edu/blog/insead-blog/collaboration-unlocks-global-health-solutions-13566

Can you do good without being a "do-gooder"? INSEAD strategy professor Jasjit Singh argues that you don't need to quit your job and join an NGO to have a beneficial impact on the world. But doing the most good may not mean painting houses in your off-hours or running marathons for charity. Increasingly, businesses are pursuing both social impact and profits -- sometimes in the same sweet spot, other times through strategic trade-offs. Even if you work for a massive organisation, there are ways to make a tangible difference. Moreover, there is a persuasive, data-driven business case for doing so.Read more: https://knowledge.insead.edu/blog/insead-blog/the-force-for-good-spectrum-using-business-as-a-tool-13321

When it comes to innovation, people often confuse product with process. Creating game-changing products and services (or any novel and useful business solution) requires creative approaches that aren't part of the standard managerial skill-set. Manuel Sosa, INSEAD Associate Professor of Technology and Operations Management, joins us to discuss how close-knit collaborations between managers and designers can spark innovative thinking, and perhaps even catalyse organisational transformation.Read more: https://knowledge.insead.edu/leadership-organisations/the-kinds-of-collaboration-that-lead-to-successful-innovation-12991

Jennifer Petriglieri, author of the new book Couples That Work: How to Thrive in Love and at Work, has interviewed more than 100 dual-career couples on their triumphs and tensions. The key to long-term happiness, she says, is for partners to communicate about deeper issues, rather than getting hung up on practicalities. But what happens if couples discover they may not be on the same page?Read more: https://knowledge.insead.edu/career/the-proper-care-and-feeding-of-dual-career-couples-12601