In The Corporation in the Twenty-First Century: Why (Almost) Everything We Are Told About Business Is Wrong, John Kay provides a novel perspective on the evolution of the contemporary corporation.One of the UK’s leading economists, Kay is a fellow of St John’s College, Oxford. He was the first dean of Oxford’s Saïd Business School and has held chairs at London Business School, the University of Oxford, and the London School of Economics and director of the Institute for Fiscal Studies.In his conversation with Martin Reeves, chairman of the BCG Henderson Institute, Kay discusses the essence of the modern corporation, the changing relationship of capital and labour, the gap between the our historic concept of the corporation and the current reality and the forces that have and will further shape the corporation including sustainability, geopolitics, and technology.Key topics discussed: 01:56 | The essence of a 21st century corporation05:53 | The changing roles of workers and capital12:26 | Limits to corporate scale16:00 | Forces that will shape the future of corporations sustainability, geopolitics, technology21:50 | The impact of AI on the nature of the corporation24:12 | Implications for managersAdditional inspirations from John Kay:Radical Uncertainty: Decision-Making Beyond the Numbers (W.W. Norton & Company, 2020)The Long and the Short of It: A guide to finance and investment for normally intelligent people who aren’t in the industry (IPS - Profile Books, 2016)Other People's Money: The Real Business of Finance (PublicAffairs, 2015)Obliquity: Why Our Goals Are Best Achieved Indirectly (Profile Books GB, 2011)

In a captivating discussion, Amar Bhidé, a Columbia University Health Policy professor and innovation expert, dives into the concept of Knightian uncertainty and its relevance to today's corporate landscape. He emphasizes the distinction between unique and repeated events, urging businesses to view uncertainty as a creative opportunity. The conversation also delves into how corporations can harness imaginative storytelling and effective routines to navigate unpredictability and examines the ambiguous role of AI in shaping future business strategies.

Baruch Lev, Professor Emeritus of Accounting and Finance at NYU, and Feng Gu, Professor of Accounting and Law at SUNY, delve into the complexities of mergers and acquisitions. They reveal that 75% of deals fail, primarily due to overconfidence among CEOs. The duo discusses a practical scorecard for assessing acquisition success and identifies patterns that lead to successful mergers. They also highlight the psychological pitfalls that often cloud decision-making and share key lessons for executives seeking growth through acquisitions.

Sandra Matz, a leading researcher at Columbia Business School, dives into the world of digital footprints and their impact on human behavior. She reveals how psychological profiling can predict our decisions, highlighting both the benefits and harms of personalization. The discussion touches on the challenges of data regulation across various regions and the ethical responsibilities of companies to manage user data. Matz also explores the ramifications of AI-driven content and offers insights on how individuals can better manage their digital presence.

Dan Davies, an economist and former investment banker known for his sharp analyses on finance and corporate governance, delves into the systemic flaws in decision-making. He discusses how big systems often produce undesired outcomes, the bureaucratic failures impacting areas like animal welfare, and the risks of accountability lost in complexity. Davies raises alarms about AI's potential to complicate decisions further if not implemented wisely. He emphasizes the need for redesigning decision systems to leverage AI effectively and avoid repeating past mistakes.

Sayash Kapoor, co-author of 'AI Snake Oil' and researcher at Princeton University, shares crucial insights on the realities of AI. He discusses the hype surrounding AI, highlighting the difference between predictive and generative AI. Kapoor explains how inflated expectations can lead to misconceptions, especially in healthcare applications. He emphasizes the need for regulatory measures to balance innovation with safety and urges managers to cultivate a healthy skepticism while embracing new technologies. Dive into his eye-opening exploration of AI's true capabilities.

In The Age of Outrage: How to Lead in a Polarized World, Karthik Ramanna provides a framework for leaders to navigate outrage—the intense, polarized reactions to perceived social injustices, political stances, and misaligned corporate actions—by addressing root causes, engaging stakeholders, and building resilience.Ramanna, a professor of Business and Public Policy at the University of Oxford’s Blavatnik School of Government, specializes in business-government relations and corporate accountability.In conversation with Martin Reeves, chairman of the BCG Henderson Institute, Ramanna discusses the three causes of outrage (fear of the future, past injustices, and ideologies of othering), common instincts that mislead leaders, and his five-step framework for navigating the age of outrage.Key topics discussed: 01:08 | Managing in the age of outrage4:21 | Three causes of outrage: fear of the future, past injustices, and ideologies of othering5:48 | The five-step framework for navigating the age of outrage19:04 | Instincts which mislead companies into taking the wrong stance or making the wrong analysis20:45 | The impact of “temperate leadership” and leadership attributes25:22 | Key factors impacting the age of outrageAdditional inspirations from Karthik Ramanna:Political Standards: Corporate Interest, Ideology, and Leadership in the Shaping of Accounting Rules for the Market Economy (The University of Chicago Press, 2015)

Aswath Damodaran, a renowned Professor of Finance at NYU and author of 'The Corporate Life Cycle,' shares his insights on how corporations age like living beings. He discusses the six stages of the corporate life cycle and the importance of recognizing a company's true age for effective management. Damodaran emphasizes how leadership skills must adapt to each stage, the art of communicating complex ideas simply, and the evolving nature of corporate governance. Tune in for a deep dive into maximizing value through all life cycle phases!

John Rossman, a former Amazon executive and author of best-sellers like 'The Amazon Way,' shares insights on leading successful transformations in a hyper-digital age. He emphasizes the importance of making 'big bets' while adopting a mindset geared towards outcomes. Rossman advocates for structured memos over PowerPoint for clearer communication and decision-making. He also discusses key strategies for navigating organizational change, emphasizing the need to understand customer pain points and maintain a balance between risk and opportunity.

Michael C. Jackson, a professor of management systems and former dean at Hull University Business School, discusses Critical Systems Thinking. He introduces the EPIC process, a practical framework for leaders to navigate complexity. The conversation critiques traditional MBA tools, highlighting the need for a holistic approach in modern business. Jackson also explores five unique perspectives on systems thinking, stressing the importance of diverse insights in problem-solving. The talk reveals how organizations can better embrace systems methodologies amidst contemporary challenges.