“Any idea you can think of for a new product, I guarantee you that somewhere in the world there’s six other people thinking of the same thing.”

If those words from L.E.K. Consulting vice chair Stuart Jackson already serve as a reality check, consider also the challenges involved in achieving superior functionality to existing offerings, defining a market, and gaining those consumers’ trust. And that’s not to mention the incumbent channels, suppliers and even often parts of your own organisation that are “trying to find ways to preserve the current order of things”.

It’s little wonder then that the failure rate for new products is so high. Fortunately, however, there are steps you can take, as Jackson and co-author Ilya Trakhtenberg write in their new book Predictable Winners, to “systematically identify and retire risk at each step of the innovation journey”.

This week’s guest on Leadership Lessons, Jackson offers listeners advice on doing just that.

Credits:

Producer: Inga Marsden

Presenter: Antonia Garrett Peel

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.

On this week’s episode, MT’s editorial team discusses whether businesses are burying their heads in the sand when it comes to cybercrime and some common traps that risk undermining your international expansion efforts.

It’s been a torrid time for Marks & Spencer as it continues to battle a cyberattack that according to one estimate is costing the retailer £43m a week. And it’s not the only one to fall victim. The Co-op has said it is now in the “recovery phase” after an attack forced it to take crucial systems offline, while the same group has also claimed responsibility for an attempted hack of high-end department store Harrods. Their plight is hardly unique, but are businesses facing up to the threat to their operations? We asked our audience.

Expanding overseas can require leaders to revert to a “start-up mentality” – at least that’s the argument of Tipalti president Rob Israch, who authored our second piece for this week. We bring you his tips for avoiding common pitfalls of international expansion, including what leaders typically get wrong about localisation and how to ensure your product, service and culture resonate with local customers and employees.

Links:

https://www.managementtoday.co.uk/mt-asks-businesses-burying-heads-sand-cyber-crime/opinion-and-analysis/article/1916933

https://www.managementtoday.co.uk/m-s-lessons-retailers-approach-crisis-communications/opinion-and-analysis/article/1917341

https://www.managementtoday.co.uk/leaders-wrong-localisation/opinion-and-analysis/article/1916615

Credits:

Presenters: Antonia Garrett Peel and Éilis Cronin

Producer: Inga Marsden

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.

In 2019, the Center for Aging Better predicted that by 2025 there will be one million more people aged 50 and over, and 300,000 fewer people aged 30 and under, in the workplace, with one in three of the working age population aged 50 and over.

But as we creep towards to halfway point of 2025, was this prediction correct?

Lyndsey Simpson, founder of 55/Redefined, certainly thinks so. In fact, she says we've exceeded those levels.

In this week's episode, we discuss the UK's ageing population and its affect on the workplace. Simpson argues that many employees who reach retirement age don't feel ready to stop working - but modern workplaces still impose a mid-60s retirement age. Through her work at 55/Redefined, she has seen an influx of people over the retirement age return to the workplace - and believes business leaders who are quick to dismiss older workers are missing out on critical return on experience.

Credits:

Presenter: Éilis Cronin

Producer: Inga Marsden

Artwork: David Robinson

Hosted on Acast. See acast.com/privacy for more information.