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Reflecting on the passing of Daniel Kahneman on March 24, 2024, I am reminded of his transformative work in Thinking, Fast and Slow. Kahneman’s research introduced two systems of thinking: System 1: Fast, intuitive, and automatic, but prone to biases like the halo effect and availability heuristic. System 2: Slow, deliberate, and analytical, essential for counteracting biases and making informed decisions. Real-World Application: Netflix’s Content Strategy Netflix faced a decision: invest in original content or acquire existing content. Applying Kahneman’s principles, they: Identified System 1 Biases: Avoided overvaluing original content based on early successes (halo effect). Considered comprehensive data over recent trends (availability heuristic). Engaged System 2 Thinking: Analyzed viewer preferences, engagement metrics, and ROI. Consulted industry experts and conducted surveys. Practical Steps: Developed a balanced scorecard to evaluate content potential. Modeled various scenarios to project future performance. Outcome: Netflix invested in original content while strategically acquiring external content, strengthening their brand and industry position. Kahneman’s insights teach us to balance intuition with analysis for better decision-making. His legacy continues to inspire. Rest in peace, Daniel Kahneman. Image credit: www.cnn.com #DanielKahneman #ThinkingFastAndSlow #DecisionMaking #BehavioralScience #System1 #System2 #Netflix #ContentStrategy #Leadership #ProfessionalGrowth #RIPDanielKahneman

We are excited to have Erin Meyer, in our Leading Complexity Program this fall. She is the author of "No Rules Rules, " a book with Reed Hastings that explores Netflix's innovative organizational culture. Erin has researched why companies like Netflix, Amazon, and Google are successful. They are culture-driven differently. Most companies focus on absolute positives like integrity, respect, and communication. However, the best companies concentrate their culture on addressing and managing the inherent workplace tensions and dilemmas that enable employees to make everyday decisions. Want to learn more about growing a thriving company culture differently?  Join us in the Leading Complexity program. Link in comments #complexity #leadershipdevelopment #agileleadership #agileorganization #leadingcomplexity #productdevelopment #productleadership

I ALWAYS reference this book when explaining the value of unlimited time off and other policies that make employees feel ‘regulated’ — instead, organisations should be working towards making the employee as autonomous as possible. Putting the power in their hands to work the way they want in order to produce the best work possible to drive the business forward will reveal their loyalty, work ethic, and commitment.

I’m hooked on Netflix’s Drive to Survive ➖ The intense competition, high stakes, relentless drive to succeed, and the sheer will to survive. 🏎️ Every race is a thrilling spectacle,🔥🔥 As I binge-watched the latest season, I couldn’t help but draw parallels to the business world, especially in my work with clients at LQ - Energise for Success. Just like F1 teams, businesses today face a fast-changing landscape driven by new technologies and constant disruptions. The big question for our clients is, “𝐇𝐨𝐰 𝐝𝐨 𝐈 𝐚𝐝𝐝𝐫𝐞𝐬𝐬 𝐭𝐡𝐞𝐬𝐞 𝐞𝐯𝐨𝐥𝐯𝐢𝐧𝐠 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐧𝐞𝐞𝐝𝐬?” Instead of just making incremental tweaks, what if you could build entirely #newbusinessmodels around these emerging needs ⁉ This approach usually involves leveraging new technology to either create a novel business model for the same customer group or transform an existing model to serve new customer groups – often, it's a mix of both. Here’s what I’ve learned from both the racetrack (binge-watching) and the boardroom: 𝐃𝐫𝐞𝐚𝐦 𝐁𝐢𝐠, 𝐓𝐞𝐬𝐭 𝐑𝐢𝐠𝐨𝐫𝐨𝐮𝐬𝐥𝐲: Ambition is key, but so is rigorous testing and validation. Don’t cling to unproven assumptions; let customer insights guide you in the test phase. 🧪 𝐀𝐝𝐨𝐩𝐭 𝐚 𝐏𝐨𝐫𝐭𝐟𝐨𝐥𝐢𝐨 𝐀𝐩𝐩𝐫𝐨𝐚𝐜𝐡: Treat business building like managing a portfolio. Aim for a 50-65% success rate. It’s crucial to halt investments in ideas that don’t work and redeploy resources to more promising areas. Fail fast, fail forward. 💡 𝐂𝐨𝐥𝐥𝐚𝐛𝐨𝐫𝐚𝐭𝐞 𝐟𝐨𝐫 𝐄𝐱𝐩𝐞𝐫𝐭𝐢𝐬𝐞: Don’t do it alone. Partner with experienced experts to bring in external knowledge and investment. 🤝 𝐁𝐫𝐢𝐝𝐠𝐞 𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐆𝐚𝐩𝐬: The culture of a new business often differs from its core business culture. Successfully bridging this gap can be the deciding factor between success and failure. 🌉 If you’re curious to learn more about how we navigate these challenges at LQ with our clients, give me a wave 👋 – I’d love to share some of our exciting case studies! #BusinessGrowth #Innovation #Leadership #StrategicThinking

Do you think that Digital Transformation is not for legacy and well-established business? When discussing digital transformation, business leaders frequently prioritize the digital aspect over the transformative element. This oversight, though common, is significant. When broaching this topic, the initial inquiry should be: what specific transformation are we addressing, and how does it distinguish itself from previous market shifts encountered by our company? https://buff.ly/3GPF6fK #digitaltransformation #CorporatePerformanceManagement #reportingautomation #financialreportingautomation #financialstatementsautomation #managementreportingautomation #realtime reporting #onlinereporting #integratedreporting #financialstorytelling #storytelling #datainsights #dataanalytics #ESGreporting

Highly Recommended--Is Strategic Foresight the Missing Link? It's Time to Integrate Strategy and Foresight: (Harvard Business Review). Organizations should revitalize the process of strategic foresight, which explains how to play, how to win, and how to demonstrate resilience in the face of ongoing disruption. The author describes integrating strategic foresight through a ten-step process and shares Netflix's experience. The content raises these issues: What explains the disconnect between strategy and foresight?   What are the advantages and risks of operating with strategic foresight? How does organizational foresight differ from strategic foresight?        https://lnkd.in/gAYj5pWH #HBR #strategicforesight #strategy #corporateforesight #Netflix #JoyceFlory #ghostwriter 

TOMORROW join Lance Knight to learn why a product-centric approach is the key to a successful digital transformation. Register now to learn why it’s key to unlocking your company’s full potential in the digital age! #ValueStreamManagement #DigitalTransformation #Broadcom

Goal setting ’is challenging, but did you know OKRs are helping businesses achieve strategic direction and clarity? Giants like Amazon, Netflix and Deloitte are proof of the success of OKRs. Find out more in our guide about how OKRs can help your business. Download your free copy of "The Ultimate Guide to Setting Business OKRs" here: https://lnkd.in/gVvfywJj #OKRs #goalsetting #clarity #business #success

Goal setting ’is challenging, but did you know OKRs are helping businesses achieve strategic direction and clarity? Giants like Amazon, Netflix and Deloitte are proof of the success of OKRs. Find out more in our guide about how OKRs can help your business. Download your free copy of "The Ultimate Guide to Setting Business OKRs" here: https://lnkd.in/d49897r9 #OKRs #goalsetting #clarity #business #success

Goal setting ’is challenging, but did you know OKRs are helping businesses achieve strategic direction and clarity? Giants like Amazon, Netflix and Deloitte are proof of the success of OKRs. Find out more in our guide about how OKRs can help your business. Download your free copy of "The Ultimate Guide to Setting Business OKRs" here: https://lnkd.in/gCe3GbQu #OKRs #goalsetting #clarity #business #success