HBR On Strategy

Stefan Thomke, a Harvard Business School professor and author of "Experimentation Works," delves into the transformative power of experimentation in business. He discusses how successful companies like Netflix and Booking.com leverage A/B testing for competitive advantage. Thomke highlights the pitfalls of relying on intuition, advocating for a data-driven decision-making approach. He shares insights on cultivating an experimental culture within organizations, encouraging all employees to engage in small-scale experiments to drive innovation and growth.

In this engaging discussion, Harvard Business School professor Rembrand Koning dives into Thinx's trailblazing journey in the feminine care market. He sheds light on the challenges posed by longstanding taboos surrounding menstruation that stifle innovation. Thinx's bold marketing flips stigma into an asset and promotes empowering women through groundbreaking products. Koning emphasizes the necessity of diversity in decision-making and highlights how changing cultural perceptions can open doors for new business strategies in neglected markets.

Ilya Strebulaev, a professor at Stanford Graduate School of Business and co-author of "The Venture Mindset," discusses how businesses can benefit from thinking like venture capitalists. He explains the importance of accepting failure while pursuing impactful investments. Strebulaev highlights the advantage of fostering a culture of disagreement to enhance decision-making, suggesting strategies like appointing a devil's advocate. He also emphasizes how agility and innovation in large organizations can be improved by embracing diverse opinions and refining decision-making practices.

Peter Cuneo, managing principal of Cuneo and Company, is a turnaround expert with a history of revitalizing companies like Marvel and Black & Decker. He discusses the crucial role of company culture in recovery efforts and shares strategies for effective decision-making. Cuneo highlights the impact of transformative choices, like casting Robert Downey Jr. as Iron Man, on company culture and success. He emphasizes the need for capable teams, effective communication, and a growth mindset when navigating challenging organizational landscapes.

Sundar Pichai, the CEO of Google and Alphabet, discusses the transformative power of artificial intelligence in various industries. He highlights how generative AI, like Google's Gemini, is revolutionizing workplace collaboration. Pichai emphasizes the need for responsible AI development and safety measures as technology advances. He also addresses the evolving role of CEOs in a stakeholder-focused world and envisions AI's potential to enhance education, providing every child access to personalized AI tutoring.

Maria Roche, a Harvard Business School professor specializing in innovation management, joins U.S. Air Force Major Victor Salsa-Lopez, who spearheaded AI initiatives in defense. They discuss the hurdles of driving innovation within bureaucracies and how the Department of Defense has surprisingly contributed to tech advancements since WWII. The conversation highlights the role of AI in optimizing military operations, the challenge of integrating new technologies in legacy organizations, and contrasting the innovation landscapes of government versus private sectors.

Amy Edmondson, a Harvard Business School professor, and Michael Luca from Johns Hopkins Carey Business School dive into the intricacies of data-driven decision-making. They reveal how misinterpretation can lead to faulty conclusions, emphasizing the need for critical thinking in analyzing data. Listeners learn about balancing reliance on data with intuition, understanding the importance of effect sizes, and recognizing the pitfalls of correlation versus causation. Their insights aim to equip leaders with strategies for aligning metrics with meaningful outcomes.

Gary Pisano, a Harvard Business School professor specializing in strategy and sustainable practices, discusses the pitfalls of the 'growth at all costs' mentality prevalent in the tech industry. He emphasizes the need for companies to prioritize sustainable growth strategies over rapid expansion, using examples like Peloton to showcase the consequences of overextension. Pisano advocates for aligning growth ambitions with core values and operational capabilities, highlighting the importance of talent development in fostering long-term profitability.

Kasra Ferdows, an operations management professor at Georgetown University and supply chain expert, delves into how open digital platforms revolutionize supply chain innovation. He shares Haier's remarkable response during the pandemic, swiftly creating mobile isolation wards. The conversation highlights the importance of transparency and collaboration, illustrating how even small organizations can harness digital tools for efficiency. Ferdows emphasizes cultivating strong supplier relationships and nurturing innovative strategies for lasting competitive advantage.

Lauren Cohen, a professor at Harvard Business School, dives into the innovative world of insurtech with a focus on Hippo, a company reshaping the insurance landscape. He discusses how Hippo uses AI to streamline operations and eliminate agents, creating lower prices and targeting consumers in high-risk areas. Cohen also emphasizes the challenges traditional insurers face from climate change and market competition, illustrating how tech-driven firms thrive by embracing efficiency and enhancing customer engagement.