INSEAD Knowledge Podcast

Companies looking to succeed in emerging markets must listen to local needs and tailor their proposition accordingly.That's the message from Affiliate Professor of Strategy Lite Nartey and digital financial services expert Bruno Akpaka in this INSEAD Knowledge podcast, which examines how mobile payments system Mobile Money was successfully introduced in Ghana.Akpaka, who oversaw the launch of Mobile Money in 2009 as mobile telecom firm MTN's general manager for Western Central Africa, explains how the company took the time to speak to all stakeholders involved. Alongside banks and regulators, the MTN sent representatives out to speak directly with market traders and their customers, many of whom had never previously had access to financial services.This led MTN to eschew the traditional banking route in favour of a distribution model that brought the service to unbanked consumers through a network of agents. This allowed the company to customise their proposition and develop a product that met the needs of local consumers, offering them convenience, security and simplicity.What started out as a project with financial inclusion goals, has since evolved into a comprehensive financial system. By the end of 2024, Mobile Money had more than 17.2 million users in Ghana – approximately half the total population.While such a tailored approach might seem obvious, Professor Nartey highlights how many global firms still try to apply strategies from developed markets without fully understanding local contexts. As the Mobile Money case shows, each market has its own challenges – and requires its own tailored solution.      

What's common across the Boeing 737 MAX debacle, the 1MDB financial scandal and America's opioid crisis? They are all illustrations of how business leaders, in pursuit of performance, neglected and undermined progress – specifically fairness, well-being and sustainability.With each such scandal, trust in business frays. While one may blame specific firms and leaders, too much is amiss in modern business to solely blame the actors, says INSEAD Professor of Strategy and Management Subi Rangan in this podcast. Business theory and business education also warrant careful scrutiny and correction.

Can dreaming really help solve waking problems? And could a specific form of dream analysis help an organisation better achieve shared goals and objectives? In this INSEAD Knowledge podcast, Susan Long, Emeritus Professor at the National Institute of Organization Dynamics Australia and Michael Jarrett, Professor of Management at INSEAD offer their perspective on the value of social dreaming for firms.The roots of social dreaming can be traced back to World War II, and German journalist, Charlotte Beradt's documentation of dreams during the Nazi era. Inspired by her findings, British psychoanalyst Gordon Lawrence developed the concept of social dreaming as a structured method for exploring the unconscious dynamics operating within contemporary social groups.This method moves beyond the traditional view of dreams as purely personal experiences. While individual dreams often address personal wishes and daily events, social dreaming suggests that groups of people, interconnected within a social system, also collectively dream about issues, desires and problems relevant to the group as a whole.The conversation goes on to explore the practicalities of running a social dreaming session – from the importance of the Matrix to the role of the host in leading the group through the dream reflection dialogue.Citing real life examples, Long and Jarrett explain how they have both used social dreaming to work with firms to identify and address the unconscious concerns and emotions that influence behaviour and decision-making. In this way, social dreaming can offer deeper insights into shared concerns. This allows for improved communication, collaboration and a more comprehensive understanding of the complex dynamics at play within groups.Further reading:The Third Reich of Dreams: The Nightmares of a Nation, Charlotte Beradt.Introduction to Social Dreaming: Transforming Thinking, W. Gordon Lawrence.Social Dreaming: Philosophy, Research, Theory and Practice, Susan Long and Julian Manley (eds.).

For the longest time, businesses have embraced a “product selling” playbook. Typically, this means having a supplier with a product to sell and a customer to persuade to purchase that product based on the price and perceived value.However, in an increasingly challenging business environment where disruption is the norm, such a transactional approach is no longer fit for purpose. In this INSEAD Knowledge podcast, Christoph Senn, Adjunct Professor of Marketing at INSEAD, and Mehak Gandhi, Head of Research at Valuecreator, discuss an alternative approach to working with your customers, one that involves a deeper partnership and a greater understanding of their client's needs. An approach they've outlined in their new book, Triple Fit Strategy: How to Build Lasting Customer Relationships and Boost Growth. You can access more tools about the framework and get further information about the book here.

In a dynamic business environment, leaders often need to implement new strategic initiatives – from new business models to new technologies or workflows. But change is never easy. The success of new initiatives depends on whether leaders win the support of actors within the organisation.In other words, it is a matter of influence. In this podcast with Vibha Gaba, the Berghmans Lhoist Chaired Professor of Entrepreneurial Leadership at INSEAD, discusses the forces at play when leaders try to drive change. To build support for their strategic initiatives, leaders must understand how support and resistance spread within the organisation's networks.

Despite millions retiring annually, the topic remains taboo for many employers and employees. Every year, millions leave the workforce, yet discussions about this common rite of passage are often avoided.This INSEAD Knowledge podcast features Graham Ward, Adjunct Professor of Organisational Behaviour and Isabel Lebbe, Partner in the Investment Management practice of Arendt & Medernach, discussing the often-neglected issue of retirement.Drawing on years of research in this field, the pair highlight the significant impact that retirement can have on both individuals and the organisations they leave behind. They point out that retirement should not merely be seen an event but is, in fact, a complex process that requires careful consideration and planning from both sides. Ward and Lebbe argue that with an ageing population, changing demographics also mean firms need to stop viewing retirement as an end. Instead, they must view it as a valuable opportunity to maintain relationships and leverage the experience of retiring employees to ensure a positive experience for all involved. Read more: https://knowledge.insead.edu/career/talk-about-making-good-exit  

Rigid hierarchical team designs seem to have fallen out of favour with many contemporary organisations. But making the switch to a decentralised approach, where authority is more evenly distributed between team members instead of concentrated among a few senior leaders, is by no means easy.In this podcast, Michael Y. Lee, Assistant Professor of Organisational Behaviour at INSEAD, explains the difficulties of dismantling organisational hierarchies. He unpacks the reasons why firms can fail in their bids to jettison hierarchies and suggests two key practices they can adopt to set themselves up for success.

Everyone loves a good story. But storytelling is way more powerful when leaders employ it effectively, according to Manfred Kets de Vries, Distinguished Clinical Professor of Leadership Development and Organisational Change at INSEAD and the Raoul de Vitry d'Avaucourt Chaired Professor of Leadership Development, Emeritus.In this podcast, Kets de Vries, who authored the book Storytelling for Leaders, discusses the power of storytelling and how leaders can employ storytelling effectively. More importantly, he explains how storytelling can create tipping points – not only to change others but leaders themselves.

The world is becoming more interconnected. Digital platforms and social media are giving us a greater “voice” and more ways to group, which can increase the chances of disagreeing with one another. Unsurprisingly, we are seeing great polarisation and conflicts in many parts of the world.In this podcast, INSEAD professors and the co-founders of INSEAD's Negotiation and Conflict Management Collaborative (NCMC), Horacio Falcão, Roderick Swaab and Eric Luis Uhlmann, explain why negotiation and conflict management are ever more important in these times. They discuss what it means to go beyond just a one-time “win”, and the need for more constructive dialogues and sustainable negotiation strategies.Developing negotiation skills will not only increase tolerance, but also help people transform disagreement into opportunities to work together and create value – in other words, expanding the pie instead of trying to expand their share of a “fixed pie”. Ultimately, if we learn to interact with others with a win-win mindset, we can build a more humane world – one negotiation at a time.

Today's uncertain and disrupted world has had a major impact on how firms do business. It has led to a gradual strategic shift from the era of “bigger is better” and a narrow fixation on increased sales growth to a more nuanced, broader vision of corporate value growth.In this podcast, Jean-Claude Larreche, an Emeritus Professor of Marketing and the Alfred H. Heineken Chaired Professor of Marketing, Emeritus, builds on the themes of his new book Value Capture Selling to explore this transformation further, examining the reasons behind the shift and what it specifically means for the role of salespeople within firms.

The concept of coaching has been a hot topic in business circles for a number of years. It now almost seems a given that top executives employ the services of a coach to help them become better leaders and advance their careers. But the rise in popularity of coaching has also thrown up a number of questions: What really makes a good coach? What can and should you expect from your coach? How can you pick someone that's right for you?  These are just some of the questions addressed in this new podcast featuring Derek Deasy and Enoch Li, co-directors of the INSEAD MBA Personal Leadership Development Programme. What's clear is that a need for openness, engagement and a willingness to collaborate with your coach are all essential if the experience is really going to make an impact.Drawing on their years of experience, they explain why group coaching can be so effective. Better understanding the anxieties and interactions at play within a group can allow people the space to bring a more honest version of themselves to the team, which can benefit both individuals and organisations.

Finding meaning in your work isn't just about loving what you do. The reality is there are many ways to experience fulfillment, even in what might seem like a mundane job.In this episode, Winnie Jiang, an Assistant Professor of Organisational Behaviour at INSEAD, explains how financial security, connections with colleagues and even the satisfaction of doing a good job can all contribute to a sense of purpose. Jiang outlines how meaning can be grown and developed through “job crafting”. This can involve adjusting tasks, choosing to work with certain colleagues or changing how we view the overall meaning of our work. Importantly, she emphasises that while passion and purpose can be cultivated in almost any role, you ultimately have control over your experience. You can either change your perspective and approach to a situation, or, if necessary, remove yourself from it altogether.Jiang then explores the topic of career transitions. She examines why some people find it difficult to move to a new role, while others seem to switch occupations with ease. The key, she says, is to identify and recognise what gives your work meaning and how those elements might be transferable to new roles.By understanding your own "meaning perception", you can approach career changes with a more open mind and find fulfillment in unexpected places.Related reading:Your Dream Job May Not Exist, and That's OkayThe Secret Ingredient For a Successful Career ChangeHow to Find Fulfilment by Taking a Step Down

The emergence of large language models (LLMs) is poised to transform many industries, from entertainment and health care to market analysis. Businesses that fail to explore the rich opportunities presented by language technologies may soon find themselves at a significant competitive disadvantage.We speak to Abhishek Borah, Associate Professor of Marketing at INSEAD, about his new book, Mine Your Language: Influence, Engage, Predict, which offers vital insights on how language can be monetised.With an engaging mix of anecdotes and research, Abhishek explains how the art of text mining can unlock critical insights from data, a far cry from the expensive and often biased consumer marketing surveys.

Professionals are often told – and mostly convinced – that networking is good for their careers. However, the challenge is plugging the knowing-doing gap. How can people build and manage their networks more effectively? What makes individuals more or less motivated to network? In this podcast, Ko Kuwabara, Associate Professor of Organisational Behaviour at INSEAD, explains how mindsets can affect peoples' motivation to network. He discusses networking through the lens of a growth vs. fixed mindset – a concept popularised by psychologist Carol S. Dweck.He also discusses how as the modern workplace becomes increasingly diverse, a growth mindset can help members of an organisation better embrace diversity.

Leaders play an important role in spearheading organisational change. However, INSEAD professor Narayan Pant notes that many leaders tend to rely on the same ways of doing things that have worked for them in the past, even though it may be the wrong approach for a particular situation.In this podcast, Pant delves into why it can be difficult for leaders to identify and change their behaviours. He explains the four-step process to help leaders overcome this, which includes cultivating awareness, making a commitment to change, overcoming interferences and putting new behaviours into practice.

The increasing volatility and asynchrony in today's business environment is urging leaders to move beyond traditional, internally focused team models.In this podcast, INSEAD professor Henrik Bresman discusses the second edition of his book, X-Teams: How to Build Teams That Lead, Innovate, and Succeed, co-authored with Deborah Ancona from MIT Sloan. The book emphasises the need for teams to engage externally to gain diverse perspectives, while maintaining internal cohesion. The second edition aims to reignite excitement for running better teams by celebrating successful implementations of X-Team principles.

Digital technologies create digital relationships that limit comapnies ability to innovate and change.It's long been understood that social networks, the likes of LinkedIn and Facebook, but also tools such as Whatsapp and Slack, enable individuals to collaborate and accomplish important tasks. As a result, firms typically rely on collaboration through networks to help them innovate and change.Yet, in this podcast, INSEAD professor Jason Davis argues that networking to boost one's social capital can actually hurt firms if the resulting “digital relationships” only help individuals pursue private objectives. The conversation expands on the themes covered in his recent book Digital Relationships: Network Agency Theory and Big Tech, itself based on over a decade of research in big tech companies such as Google, Amazon and Tesla, in America, Asia and Europe.

Why and how to reinvent multinational management skills. In this podcast conversation, Yves Doz, Emeritus Professor of Strategic Management at INSEAD, draws on over 30 years of research to argue that global companies now have two choices: They can simply retreat from operating globally, or they can try and rebuild their multinational management capabilities.

Are start-up ecosystems born or can they be made? Both, says Chiara Spina, INSEAD Assistant Professor of Entrepreneurship, who has extensive experience working with and studying start-ups in Italy, the United Kingdom, India and Pakistan. In the latest INSEAD Knowledge podcast, Spina explains that flourishing ecosystems such as Silicon Valley and Israel are often nurtured by unique local conditions and historical backgrounds. Future start-up hubs could well spring up in emerging economies such as the Czech Republic, Jordan and Pakistan. Spina evaluates their relative advantages and weaknesses, drawing from her experiences working on the ground with entrepreneurs and policymakers in these countries.She also recommends specific strategies for governments to find innovative ways to succeed in the start-up race, playing to the unique strengths and challenges of their region rather than replicating models from elsewhere.

Artificial intelligence has already demonstrated its ability to amplify performance and reshape competitive dynamics. A prime example lies in the pivotal role played by chess computers as artificial training partners, boosting players' capabilities.Introduced in the late 1970s, chess computers gained popularity in Western countries but were not available in the former Soviet Union due to microchip shortages. Building on this staggered diffusion, INSEAD's Henning Piezunka and Fabian Gaessler from Pompeu Fabra University examined how AI influenced chess player performance under conditions where computers were exclusively accessible in the West vs. being available in both regions.Their research findings are compelling. Access to chess computers significantly boosted human performance, with players becoming substantially better. Furthermore, AI training helped level the playing field, especially benefitting disadvantaged players and those without access to human training partners. In this podcast, Piezunka emphasises the critical factors that determine the effectiveness of AI training.

Supply chain disruptions have become commonplace in recent years due to the increasing occurrence of natural disasters, the Covid-19 pandemic, the Ukraine war and various forms of geopolitical tension. In an increasingly volatile business environment, organisations that are used to operating in structured environments can look to the humanitarian sector for insights on navigating this new reality.In this podcast, INSEAD Knowledge speaks to Luk Van Wassenhove, Emeritus Professor of Technology and Operations Management and academic director of the INSEAD Humanitarian Research Group (HRG). He is not only well-known in the field of operations management, but also recognised as one of the pioneers in humanitarian operations.In the past, humanitarian organisations have benefited from adapting best practices from the commercial sector, but businesses can also gain insights from how humanitarian organisations operate in extreme conditions. How do they overcome uncertainty, time pressure, challenging physical conditions and the lack of resources and information?Van Wassenhove's serendipitous engagement with the humanitarian world – including the Red Cross in Geneva and the UN World Food Programme for the UN Joint Logistics Centre – 25 years ago made him realise that operations management professionals have much to learn from humanitarian organisations. In fact, learning can be a two-way process. This is where the INSEAD HRG has a role in bridging knowledge between the two seemingly unrelated sectors. Companies need to look beyond their current and immediate boundaries and be open to learning from others. They should also learn to work with diverse stakeholders, be agile in dealing with unexpected situations, decentralise and localise where possible and empower employees to increase responsiveness. Moreover, principles of humanitarian work are increasingly relevant in a world with a growing divide. If companies follow the example of humanitarian organisations by embracing the principle to “do no harm” and take responsibility for the impact of their business, society and the environment will benefit greatly from this change.

Since the launch of ChatGPT in November 2022, many companies have harnessed the language model and similar generative AI tools for a variety of business functions, including writing marketing copy, coding and plugging gaps in medical imaging data. But before leaders jump on the generative AI bandwagon, they should consider how it fits into their existing technological infrastructure and wider digital transformation strategy. The technology also poses a myriad of risks, both internally and externally, that companies must mitigate.In this podcast, INSEAD Affiliate Professor of Strategy Chengyi Lin explains all the buzz around generative AI, outlines the implications of the technology across various sectors and offers key strategies to help CEOs, managers and entrepreneurs implement it more successfully across their organisations.

How do world-renowned leaders, innovators, entrepreneurs, artists and creatives achieve success? For some 20 years, Nathan Furr, an Associate Professor of Strategy at INSEAD, has been interviewing such individuals, culminating in a book with 42 practical tools to overcome uncertainty. In this INSEAD Knowledge podcast, we speak to Nathan Furr and Susannah Furr, his co-author of the book The Upside of Uncertainty: A Guide to Finding Possibility in the Unknown. In this conversation, they share how they developed this framework and how they consistently use the tools to navigate uncertainty in their lives. Amid the current socio-political and economic uncertainty, their tool kit demonstrates how to practice robust emotional hygiene to preserve mental well-being in difficult times.If we frame uncertainty in a different way, we might embrace the possibility it brings instead of fearing it.

Despite their best efforts and desire to “do good”, firms are often primarily focused on financial returns and rarely give stakeholders a seat at the table. This is because firms often lack a genuine understanding of the values that diverse stakeholders can bring and the unique needs and interests they seek.In this INSEAD Knowledge podcast, Lite Nartey, a Visiting Professor of Strategy at INSEAD, discusses how firms can identify key stakeholders based on their power and the legitimacy and urgency of their claims. She reveals the most effective ways to manage vast stakeholder networks and how to effectively engage with important players to create joint value.

What does it take to transform the idyllic Greek island of Tilos into the first zero-waste island? Can this circular model be extended to other islands and even other parts of the world? These are questions the INSEAD Sustainable Business Initiative seeks to answer in its first research collaboration with Polygreen – a network of companies that offers integrated and innovative circular economy solutions worldwide.INSEAD Knowledge speaks to Atalay Atasu, Professor of Technology and Management and academic director of the Sustainable Business Initiative at INSEAD and Imran Gill, CEO for the Middle East at Polygreen. Our guests speak about the Just Go Zero Tilos initiative and how Tilos could well be the role model to help organisations take sustainable and circular systems from inspiration to execution.

Love them or loathe them, Chinese tech giants such as ByteDance, Alibaba and Tencent have become global household names in e-commerce, digital payments, social media and gaming in a few short years. Relatively little is known about these firms, but a new book may just change that.Written by INSEAD Professor of Strategy Guoli Chen and Jianggan Li, founder and chief executive of venture capital firm Momentum Works, Seeing the Unseen: Behind Chinese Tech Giants' Global Venturing shines a light on the success – and failure – of the likes of TikTok, Shein and WeChat beyond their home market of China.Make sure to visit INSEAD Knowledge for the latest in impactful research and cutting edge thought leadership from INSEAD, the Business School for the World.

From the challenges of hybrid working to the quiet quitting trend, the Covid-19 pandemic has had a seismic impact on the workplace, leaving many companies struggling to understand how best to understand and meet employees' needs and motivations. In this INSEAD Knowledge podcast, Associate Professor of Organisational Behaviour Mark Mortensen proposes a more holistic approach to understanding employees' needs, while offering practical solutions to ensure that they remain fully invested in their organisation and its goals.This conversation is based on research Mark co-authored with Amy C Edmondson and first published in the January 2023 HBR Magazine article Rethink Your Employee Value Proposition. Listeners can access the free survey tool discussed in the podcast here: Integratedevp.org.Make sure to visit INSEAD Knowledge for the latest in impactful research and cutting edge thought leadership from INSEAD, the Business School for the World.

The engine a multinational uses to create novel ideas is often an "innovation outpost". In this INSEAD Knowledge podcast, INSEAD Professor Felipe Monteiro shares his research on these outposts and the ways that multinationals manage to integrate innovation.

Does taking photos during an experience helps us enjoy it more, or not? Alixandra Barasch, INSEAD Visitor Professor of Marketing, joins us to discuss the interplay between immersion in an experience and common fears of being judged on social media. Barasch also shares advice on the type of photos we should share online if we want observers to feel more connected to us. In addition, tech can influence our well-being through reinforcing the repetition of good behaviour. For instance, when apps draw our attention to streaks, it increases the odds of us continuing. But, as Barasch's research shows, it can be a double-edged sword.

Why is it so hard to lose weight and keep it off? Is it because willpower is a scarce resource? Or could there perhaps be a biological component? Hilke Plassmann, Octapharma Chaired Professor of Decision Neuroscience at INSEAD, joins us to discuss how newly discovered connections between the gut and the brain are making scientists rethink the issue of food choice. As researchers like Plassmann discover more about this complicated system, we may be edging closer to developing ways to hack it. And this would give us far more powerful weapons than mere willpower in controlling junk-food cravings and temptations. It may also help societies conquer the spreading obesity epidemic and ease the burdens of its current sufferers.

In this INSEAD Knowledge podcast, Professor Morten Bennedsen, the Academic Director of the Wendel International Centre for Family Enterprise at INSEAD, talks about how the experience of bringing in talent from outside the family can rejuvenate family firms. Professionalisation is “about having the right leadership skills at any level in the organisation and moving the family firm from a one-man band, from this famous creative person with very little corporate government structure to the full symphony orchestra” – including a CEO and the board – of a well-managed firm. Bennedsen views the process as the development of organisational structure that encompasses all the firm's human resources towards a common goal, like an orchestra.

Unlike men, CEOs are not all created equal. Whether it’s due to national culture, industry, personality and timing, captains of industry or public service run the gamut between powerful leaders or symbolic figureheads. INSEAD Professor of Strategy Guoli Chen draws on nearly two decades of research into chief executives, leadership teams and corporate strategy to illuminate the factors that determine CEO impact, and how such impact manifests in corporate activities and performance. A narcissistic CEO, for instance, will engage in vastly different mergers and acquisitions and corporate social responsibility compared to an executive of lesser ego. Chen also sizes up increasingly prominent members of the C-suite such as the chief financial officer and the chief sustainability officer. But whatever the power of any one person, as Chen tells it, few can live up to the “romance of leadership”. Read more: https://knowledge.insead.edu/strategy/do-ceos-matter-16456

Our relationship to products and brands is complicated. Our opinion of them is shaped by how they make us feel as much as what they do for us. Tim Kobe, founder of strategic design firm Eight Inc., knows this all too well. Starting with his pioneering work on the initial Apple Store concepts, he's helped global brands find their voice -- and new heights of profitability -- by leveraging the emotional experience they provide to customers. Kobe and Roger Lehman, INSEAD Senior Affiliate Professor of Entrepreneurship and Family Enterprise, wrote the new book Return on Experience, which explains how and why great experiences are what move the needle most for companies these days. Essentially, it's all about empathy, expressed through great design that provides "extraordinary human success". Example: the contagious creativity and innovative spirit infused in the first iPhones. But too many executives are suspicious of leveraging empathy as a business value. Consequently, they risk missing out on the greatest source of value they could bring to their customers and organisation. Read more: https://knowledge.insead.edu/entrepreneurship/whos-afraid-of-the-experience-economy-16411

Many executives have a nagging sense that something is amiss in their lives. But not all of them find the courage – or the tools – to tackle what needs fixing. In his new book, The CEO Whisperer, Manfred Kets de Vries, INSEAD Distinguished Professor of Leadership Development and Organisational Change, shares lessons and insights he gleaned from decades of helping CEOs and executives become their best selves. First and foremost, he encourages leaders to know themselves and to step away from their manically busy schedules in order to self-reflect. He also discusses the tools he has been using in his long-running INSEAD seminar, The Challenge of Leadership. These include the storytelling-based life case study, dream analysis and a thorough examination of one’s inner theatre. A fully trained psychoanalyst, Kets de Vries has pioneered the art of team coaching as a way to promote better behavioural patterns. His experience has taught him that most changes are incremental, but they do share an element of pain, as a critical motivator. To those who worry about making mistakes on their journey of change, he offers an important reminder: Life is not a rehearsal.

How can doing more with less make us more innovative? With a paradox mindset, by embracing both sides of seemingly conflicting priorities, many people find creative solutions to persistent problems.INSEAD's Ella Miron-Spektor joins us to discuss her research into the paradox mindset. Whether people struggle or thrive with competing demands largely depends on their mindset. With a paradox mindset, these demands can be transformed into new ideas and improved performance. The paradox mindset suggests an alternative perspective, accepting and learning to live with the tensions associated with competing demands.

How did a DVD-by-mail company transform itself into a leading global entertainment brand? By rejecting mediocrity, embracing negative feedback, and turning hierarchy on its head.INSEAD's Erin Meyer joins us to discuss Netflix's unique corporate culture, designed to maximise innovation by minimising rules and red tape. Her new book, No Rules Rules: Netflix and the Culture of Reinvention, was written with none other than Netflix co-founder, co-CEO and chairman Reed Hastings. In place of executive decisions and specific guidelines, Netflix employs a culture of constant, unflinching 360-degree feedback where merely adequate performers are quickly shown the door. Meyer explains how this company that operates, in Hastings's words, "on the edge of chaos" achieved its stratospheric success -- and how Netflix may be the role model for a post-pandemic economic rebound.

Capitalism's current troubles did not begin with Covid-19, but the pandemic has further exposed the grave consequences of inequality in developed economies and the fragility of global value chains. Populist movements (on both the left and right) are intensifying their demands that Adam Smith's "invisible hand" be assigned a local habitation and a name. Moreover, the harsh business lessons of Covid (PPE shortages, operational shutdowns, etc.) cast some doubt on the core tenets of globalisation.Robert U. Ayres, INSEAD Emeritus Professor of Economics and Political Science and Technology Management, joins us to discuss how the USA's post-WWII capitalist hegemony lost its way in the late 20th century, and what can be done to restore capitalism's global credibility in the face of Covid-19. In his new book, "On Capitalism and Inequality: Progress and Poverty Revisited", Ayres argues that the moral and ethical decline began with the rise of Wall Street speculation, which increasingly caused the world economy to resemble a poker game with dizzying stakes, rigged in favour of the wealthy and powerful. To re-establish a sense of fairness, Ayres recommends a familiar remedy: universal basic income, otherwise known as UBI. Unlike many UBI proponents, however, Ayres has a robust, provocative answer to the pertinent question of how it can be paid for.

Leadership has two faces -- there's the glamorous side that happens in the spotlight, and the less obvious work that goes on behind the scenes. Both are crucial, but leadership literature has increasingly stressed the public face at the expense of the more technocratic one. To borrow terminology from seminal organisational theorist James March, it focuses on the poetry of leadership and often neglects the plumbing. Charles Galunic, INSEAD Professor of Organisational Behaviour, sheds light on the more obscure face of leadership in his new book Backstage Leadership: The Invisible Work of Highly Effective Leaders. He encourages leaders to concentrate on five core processes: scanning and sensemaking, building and locking in commitment, handling contradictions, harnessing culture, and developing talent and capabilities. Though his book was written before Covid-19, he also speaks about the heightened relevance of backstage leadership in light of the pandemic and the resulting economic crisis.

Luk Van Wassenhove, INSEAD Emeritus Professor of Technology and Operations Management, is one of the world's foremost researchers on business and sustainability. Long before the phrase "circular economy" was widely known, he was partnering with companies to reduce waste in their supply chains. In addition, he has decades of experience helping NGOs improve their delivery of services in some of the most challenging contexts imaginable -- places where, as he puts it, "you might get shot at" in the normal course of humanitarian work. Luk joins us to discuss what he has learned over his eventful career about how to harmonise sustainability and profitability. He also offers insights about the state of the circular economy and other efforts to improve the environmental impact of business in our perilous world.

Even before COVID-19, supply chains were under constant threat from global disruptive events. Demand volatility caused by climate change, trade wars, pandemics, political unrest, etc. stir chaos in the market, as we saw with the waves of panic buying that swept the world along with the coronavirus. Supermarket shelves stripped of toilet paper and other essentials are only the most recent manifestation of the "bullwhip effect", or the amplified impact of relatively small demand changes as they travel through the supply chain. Left to itself, the bullwhip effect can do "horrendous" damage to companies, says V. "Paddy" Padmanabhan, the Unilever Chaired Professor of Marketing at INSEAD. His seminal research about the bullwhip effect has been credited with saving companies billions of dollars every year. Prof. Padmanabhan joins us to discuss how his time-tested insights apply to today's turbulent, uncertain global business climate.

A lot of us are out of our comfort zones right now, both physically and psychologically. While this is an unsettling place to be, it can also lead to more out-of-the-box thinking and breakthrough ideas. In other words, the exceptional conditions of this crisis may help foster the new ideas we need to surmount it. Prof. Li Huang joins us to discuss her extensive research into creativity, recommending three actionable techniques professionals can use to channel their COVID-based discomfort into creative energy.

In this Special Edition of the INSEAD Knowledge podcast, our editors sit down with three INSEAD faculty thought leaders working at the cutting edge of public health research. First, Prashant Yadav discusses how medical supply chains are falling short of keeping us safe, the potentially dire consequences in cases of global emergency such as the coronavirus pandemic, and the "social innovators" poised to transform the sector for the better. Second, Theodoros Evgeniou describes the daunting challenges governments face in regulating AI-based medical technologies. Finally, Pierre Chandon explains how food marketing can help tackle another devastating global epidemic -- obesity.

Can you do good without being a "do-gooder"? INSEAD strategy professor Jasjit Singh argues that you don't need to quit your job and join an NGO to have a beneficial impact on the world. But doing the most good may not mean painting houses in your off-hours or running marathons for charity. Increasingly, businesses are pursuing both social impact and profits -- sometimes in the same sweet spot, other times through strategic trade-offs. Even if you work for a massive organisation, there are ways to make a tangible difference. Moreover, there is a persuasive, data-driven business case for doing so.

When it comes to innovation, people often confuse product with process. Creating game-changing products and services (or any novel and useful business solution) requires creative approaches that aren't part of the standard managerial skill-set. Manuel Sosa, INSEAD Associate Professor of Technology and Operations Management, joins us to discuss how close-knit collaborations between managers and designers can spark innovative thinking, and perhaps even catalyse organisational transformation.

Jennifer Petriglieri, author of the new book Couples That Work: How to Thrive in Love and at Work, has interviewed more than 100 dual-career couples on their triumphs and tensions. The key to long-term happiness, she says, is for partners to communicate about deeper issues, rather than getting hung up on practicalities. But what happens if couples discover they may not be on the same page?