Innovation is the creation of new value for a customer :: Hunter Hastings

What is Innovation?

Innovations that deliver true value to customers are novel and sustainable. This week, Jared is joined by Hunter Hastings, a thought leader blending economics, marketing, and innovation. Hunter defines innovation as "the creation of new economic value for an end user with a viable business proposition." They discuss the subjective nature of value, emphasizing the emotional and intangible aspects that resonate with customers.

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Episode Guide:

0:00 - Intro

0:59 - What is Innovation?

2:53 - New and Sustainable vs Unsustainable newness

5:55 - Silicon Valley Innovation in 1990s - 2000s

10:30 - Invention of Corporations and Managements

13:27 - Partnerships and Aberrant Capitalism

15:37 - Problem Management: Explore and Exploit

17:23 - Digital Enablement and Human Energy

20:40 - Innovation in Business Education

23:35 - Talent Management and Team Science

28:15 - System Theory: Emergence

29:37 - Advice for Innovators
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Hunter Hastings is an economist who took up a career in corporate marketing and occupied the posts of Chief Marketing Officer in a global consumer products business, Chief Executive Officer in a Silicon Valley start-up enterprise, and Senior Partner in a global consulting company. He’s been an advisor to several Fortune 500 clients in the area of customer motivation and service strategy. Hastings has been an adjunct professor at Hult International Business School, the largest global graduate business school, and is the author / co-author of seven books spanning business and economics, and several peer-reviewed economics papers. He holds a master’s degree in economics from Cambridge University in the UK.

More about our guest:

• Hunter Hastings
• Book: Aberrant Capitalism: The Decay and Revival of Customer Capitalism (Elements in Reinventing Capitalism)

OUTLAST Consulting offers professional development and strategic advisory services in the areas of innovation and diversity management
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