“Where Are the Grown-Ups?”
Business Games
English - November 02, 2021 18:00 - 1 hour - 104 MB - ★★★ - 2 ratingsSocial Sciences Science Education Self-Improvement Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
JP Castlin on Complexity, what it means for your business, and how to deal with it via safe-to-fail experimentation.
Originally planned to be Episode 1 of Season 1 (as per audio), becomes S02e02 because we now have 2 full intro episodes and can't have Episode 0 or Season Zero on the podcast platforms.
Next week, we'll talk about Experimental Economics—but in this episode, JP Castlin talks to us about complexity, how understanding complexity is relevant for running a business, and how it all relates to experimentation.
About Business Games: www.business-games.ai/about/
ContentsAdd ~1 min to the timestamps after 11th minute mark.
Introduction [00:00]On Complexity: A Primer [03:55]On Systems: In Nature and Organizations—Ordered Clear, Complicated, Complex, and Chaotic [04:38]A Marketing Example of a Dispositional System [06:14]…and a Chaotic System [06:53]On Experimenting in Different Kinds of Systems [07:09]On Two Types of Uncertainty: Epistemic (Knowledge-based) and Aleatory (Inherent and Irreducible) [08:11]On Contexts and More on Quantum Mechanics Vs Newtonian Physics [12:02]On How to Deal with Uncertainty in Complexity [13:49]Fail-safe Vs Safe-to-fail: Marvel Vs Blumhouse [15:15]Experimentation in Various Contexts [19:13]Online Vs Offline, and Operational Efficiency Vs Strategic Choice [20:28]On Eternal Boiling, Premature Convergence, A/B Testing, and Local Optima [23:46]System Has Its Own Behaviour: Ants and Colonies [26:52]Strategy and (Equi-) Probability [27:53]On Not Getting Disheartened [30:58]On Boundary Conditions, Company-specific Metrics, Scaling and Dampening [31:57]On Corporate Versus SME, Small Versus Big [34:28]On Product Versus Service [36:40]On Services, Complexity, Causality, and Defensive Decision-making [39:24]On the Value of Consultants in Complexity [46:12]On Cost-out Versus Value-add, Start-ups and Scaling [49:36]On Start-ups and Proprietary Data [51:09]On Deliberate Versus Emergent Strategy [52:54](More) on How to Deal with Complex Problems in Practice [55:02]The Homework [57:39]JP’s Own Work as It Relates to Experiments, Strategy, and Complexity [01:00:17]On the Key Takeaways: Both Jokingly and Seriously [01:07:18]On Emotions in Experimentation [01:10:24]Links to JP’s WorkSubstack: Strategy in Praxis https://strategyinpraxis.substack.com/WWW: JP Castlin https://jpcastlin.com/Twitter: @JPCastlin https://twitter.com/JPCastlinLinkedIn: https://www.linkedin.com/in/jpcastlin/MarketingWeek:
JP Castlin on Complexity, what it means for your business, and how to deal with it via safe-to-fail experimentation.
Originally planned to be Episode 1 of Season 1 (as per audio), becomes S02e02 because we now have 2 full intro episodes and can't have Episode 0 or Season Zero on the podcast platforms.
Next week, we'll talk about Experimental Economics—but in this episode, JP Castlin talks to us about complexity, how understanding complexity is relevant for running a business, and how it all relates to experimentation.
About Business Games: www.business-games.ai/about/
ContentsAdd ~1 min to the timestamps after 11th minute mark.
Introduction [00:00]On Complexity: A Primer [03:55]On Systems: In Nature and Organizations—Ordered Clear, Complicated, Complex, and Chaotic [04:38]A Marketing Example of a Dispositional System [06:14]…and a Chaotic System [06:53]On Experimenting in Different Kinds of Systems [07:09]On Two Types of Uncertainty: Epistemic (Knowledge-based) and Aleatory (Inherent and Irreducible) [08:11]On Contexts and More on Quantum Mechanics Vs Newtonian Physics [12:02]On How to Deal with Uncertainty in Complexity [13:49]Fail-safe Vs Safe-to-fail: Marvel Vs Blumhouse [15:15]Experimentation in Various Contexts [19:13]Online Vs Offline, and Operational Efficiency Vs Strategic Choice [20:28]On Eternal Boiling, Premature Convergence, A/B Testing, and Local Optima [23:46]System Has Its Own Behaviour: Ants and Colonies [26:52]Strategy and (Equi-) Probability [27:53]On Not Getting Disheartened [30:58]On Boundary Conditions, Company-specific Metrics, Scaling and Dampening [31:57]On Corporate Versus SME, Small Versus Big [34:28]On Product Versus Service [36:40]On Services, Complexity, Causality, and Defensive Decision-making [39:24]On the Value of Consultants in Complexity [46:12]On Cost-out Versus Value-add, Start-ups and Scaling [49:36]On Start-ups and Proprietary Data [51:09]On Deliberate Versus Emergent Strategy [52:54](More) on How to Deal with Complex Problems in Practice [55:02]The Homework [57:39]JP’s Own Work as It Relates to Experiments, Strategy, and Complexity [01:00:17]On the Key Takeaways: Both Jokingly and Seriously [01:07:18]On Emotions in Experimentation [01:10:24]Links to JP’s WorkSubstack: Strategy in Praxis https://strategyinpraxis.substack.com/WWW: JP Castlin https://jpcastlin.com/Twitter: @JPCastlin https://twitter.com/JPCastlinLinkedIn: https://www.linkedin.com/in/jpcastlin/MarketingWeek: https://www.marketingweek.com/author/jp-castlin/
ArticlesLaplace & Demons - Strategy in Praxis | (substack.com)Bets & Blockbusters - Strategy in Praxis | (substack.com)Marc Pritchard knows better than to believe P&G can act like a startup | (marketingweek.com)Where are the grown-ups? | LinkedIn
Some Other Links MentionedEpistemic vs. Aleatory uncertainty - apppm (dtu.dk)Cynefin Framework | WikipediaGood Strategy Bad Strategy: The Difference and Why It Matters | AmazonHow Brands GrowCognitive Edge | The Cynefin Company