Peter Compo Part 1 - The Emergent Approach to Strategy:

The Innovation Show

The Emergent Approach to Strategy with Peter Compo: A Deep Dive into Adaptive Systems In this episode, we welcome Peter Compo, author of 'The Emergent Approach to Strategy,' to discuss the chronic failures in strategic planning and how his new book aims to redefine strategy through the lens of complex adaptive systems. Peter explains the importance of moving away from traditional planning methods and embracing an agile, emergent approach that focuses on adaptability and real-time guidance. Drawing from 25 years of experience in corporate America, including his tenure at DuPont, Peter provides practical insights into how organizations can raise their probability of success by understanding and addressing the real bottlenecks to achieving aspirations. We explore key concepts from his book, such as the triad of aspirations, bottlenecks, and strategy, and the role of rules and constraints in fostering innovation. With a mix of theory and practical application, this episode is a must-listen for corporate leaders, business strategists, and anyone interested in innovation and strategic planning. 00:00 Introduction to Strategy Failures 01:32 Guest Introduction: Peter Compo 02:06 Elevator Pitch: New Theory of Strategy 07:29 The Role of Discipline in Innovation 07:47 Music and Corporate Strategy 12:46 Challenges in Strategy Execution 14:00 The Misunderstanding of Strategy 17:43 Planning Under Uncertainty 21:30 The Importance of Adaptive Strategy 35:57 Emergent Strategy and Mintzberg's Teachings 36:44 Deliberate vs. Emergent Strategy 37:55 Understanding Strategic Constraints 39:24 Exploring Different Strategic Approaches 41:33 Overview of Strategy Concepts 43:12 Defining Strategy Across Fields 47:18 The Role of Rules in Strategy 52:22 The Triad of Aspiration, Bottleneck, Strategy 01:02:45 Consulting and Real-World Applications 01:07:22 Conclusion and Resources Link to Frank Barrett’s episode “Yes to the Mess” part 1 and 2: Link to Peter’s website: Link to Peter’s Music: Link to Aidan McCullen for Keynotes, workshops and event MC: Find us on Substack for Shownotes and competitions: strategy, innovation, complex adaptive systems, Peter Compo, Aidan McCullen, DuPont, emergent approach, strategy definition, corporate strategy, business strategy, adaptive systems, strategy framework, Roger Martin, Michael Porter, Mintzberg, Charlie Parker, jazz improvisation, creativity in strategy, bottleneck, aspirations, goals, execution, discipline in strategy, innovation challenges, long-term planning, organizational change, innovation process, strategic planning, decision making, business leadership, corporate America