Discover the importance of accurately defining primary customers in your business strategy and allocating resources accordingly. Explore case studies on Amazon's customer-centric approach and Mary Kay's focus on independent beauty consultants. Learn how continuous testing and validation of customer choices can lead to success in a competitive market. Gain insights into understanding the needs of ideal customers for effective resource allocation.

Discover how companies like Google, Amazon, and Alibaba thrive in fast-moving markets by focusing on monitoring the marketplace, sharing intelligence, and constant innovation. Traditional hierarchical organizations struggle to adapt, while market-oriented companies embrace ecosystems and empower employees. Learn about the biases and challenges of changing culture and the role of managers in handling failures. Consistent priorities and shared values are essential for sustained success in a fast-moving market.

Discover how Wolters Kluwer successfully transitioned from a publishing house to a digital information services company. CEO Nancy McKinstry shares insights on strategy execution, leadership, and innovation. The importance of patience in the digital transformation journey is also emphasized. Other topics discussed include the power of diversity in driving growth and advice for aspiring CEOs.

OXXO, a convenience store chain in Mexico, faced a strategic challenge when its rival doubled in size overnight. OXXO's CEO focused on improving the company's culture and operations instead of opening more stores. They implemented management systems to gain economies of scale. The podcast discusses strategy, operational strategy, organizational culture, and growth in multi-unit organizations.

Strategy doesn't have to be complicated. Focus on creating value through customer and employee satisfaction. Profits come from visualizing the value you create. Learn about willingness to pay and sell, and how Best Buy's turnaround increased value.

This podcast discusses a case study on a struggling retail chain's strategy to attract younger customers and boost declining revenue. It explores the challenges of brand makeovers, pricing strategies, and the importance of experimenting in high-stakes situations. The podcast also includes feedback from retail industry professionals and highlights the need for time for major changes to take hold in the marketplace.

Learn how Eastern Bank partnered with a FinTech entrepreneur to develop an online lending platform. Explore the challenges of testing new ideas and the impact of FinTech on small business lending. Discover how traditional banks compete with online lenders and the future of small business banking.

Helen Leap-Weig discusses the importance of critical thinking in business, emphasizing questioning assumptions, logical reasoning, and diversifying thought processes. The podcast explores the power of diversity of thought in driving innovation and the role of logic and critical thinking in management. It also provides advice on improving critical thinking skills and behaviors for uncritical thinkers.

Innovation is a challenge for large incumbent companies. Their long-term success depends on exploring new innovations that stretch the organization beyond its core businesses. But these new opportunities must draw on the company’s existing strengths and leadership position. Harvard Business School senior lecturer Derek van Bever and former lecturer Stephen P. Kaufman studied global brewing company Molson Coors, as it prepared to enter the cannabis beverages business in 2019. “The unknowns were unknowns — they were unknowable,” Kaufman tells Cold Call host Brian Kenny. “You need to have a theory, rather than to look for data. And this is much tougher than what we often see — major companies getting into a market that a startup has already proven exists. This is a place where no market exists.” Molson Coors initially planned to slowly test a few products in a small market to see if there might be a viable business. But ultimately the company decided to take a more aggressive and expensive strategy, with the aim of seizing first-mover advantage. Kaufman and van Bever explain how Molson Coors formulated that strategy. Key episode topics include: strategy, global strategy, budgets and budgeting, business ethics, disruptive innovation, joint ventures, food and beverage sector, beer, cannabis, market opportunity, first-mover advantage, incumbent, product development, new markets, managing risk, scope creep, Canada. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR Cold Call episode: Should Global Beer Company Molson Coors Enter the Cannabis Beverages Business? (2021)· Find more episodes of Cold Call· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org.

Free products and services are everywhere – from buy-one-get-one-free offers to free office software like Canva and Google docs, and, yes, this very podcast. If your revenue strategy does not include give aways, these free goods and services can put extra pressure on your business. How can you compete? Brigham Young University professor of strategy David Bryce studied give-away strategies across 26 different product markets. He says that companies make two key mistakes when they try to compete with a free entrant: responding too quicky with their own free offering or not responding at all. “Really, the challenge becomes how do established companies think about their own systems in ways that make those systems not become obstacles to launching free but really become facilitators,” he explains. In this episode, you’ll learn which key factors to consider as you decide how to compete with a free entrant. You’ll also learn how to refine your own product mix and consider which of your customers to target with free products. Key episode topics include: strategy, competitive strategy, giveaways, rebates, third-party pay, bundles, advertising revenue, growth, customers. HBR On Strategy curates the best case studies and conversations with the world’s top business and management experts, to help you unlock new ways of doing business. New episodes every week. · Listen to the original HBR IdeaCast episode: When Competitors Give Away the Store (2011)· Find more episodes of HBR IdeaCast· Discover 100 years of Harvard Business Review articles, case studies, podcasts, and more at HBR.org.