E32: Strategy and innovation: how to thrive in tomorrow’s business world

(Rita McGrath)

 

 

It was about 3 years ago when I visited the local branch of my bank in Belgium to deposit the cash that Lenka and I received at our wedding. As usual, Linda was sitting behind the counter. I asked Linda how she was doing.

“Not too well…”

“Earlier this week we heard the news that this branch will be closing down. Half of us will be transferred to another branch, and half of us will be out of a job. Since we heard the news, there has been a lot of tension in the office.”

“I really don’t know what to do. I have been working here for more than 25 years. This job is all I know.”

I could see the desperation in her eyes. Linda had been a great employee and I loved having her as my banker. But… she had not been strategic about her career. And now her future was at risk. She was not prepared for this moment… and now she felt like it was too late.

The world is changing fast. What does that mean for your career?

What can you do to have an amazing career still 10, 20 years from now?

Which types of jobs will be needed?

What are employers looking for?

Which companies will thrive i tomorrow’s business world?

We asked Rita McGrawth these questions.

Rita McGrath is a world-renowned thought leader and an expert on leading innovation and growth during times of uncertainty. She has received the #1 achievement award for Strategy from the prestigious Thinkers50 and is consistently named one of the world’s top ten management thinkers.

Rita is a professor at Columbia Business School and the author of five books, including the best-selling “The End of Competitive Advantage” and the upcoming “Seeing Around Corners: How to Spot Inflection Points in Business Before They Happen”.

 

 

Click here to watch the interview on Youtube

 

Interesting stories and strategies that came up in our conversation:

  • How to build your career so that you thrive in tomorrow’s business world
  • What does the ideal leadership development program look like?
  • What is the “holy grail” of business strategy?
  • How can you create an entrepreneurial mindset in your organization?
  • The difference between true innovation and “innovation theater”
  • What are the 3 processes of innovation?
  • What is at the top of Rita’s bucket list

TIP: Design your own experiment: 1) remember one or two tips from the interview, 2) apply them TODAY and 3) reflect to see how it helped the situation.

 

 

Stay in touch with Rita McGrath:

 

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