Tag Archives: INSEAD Knowledge

How Biotech Firms Can Improve Cross-Functional Collaboration

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by Oliver Schiltz and Roger Lehman

Optimising the R&D-to-commercialisation handover process is crucial for the survival of young biotech companies.

While many sectors were dealt a punishing blow during the pandemic, Covid-19 ushered in a boom in the biotech industry. Biotech start-ups raised US$34 billion globally in 2021, double the figure in 2020, and the worldwide market size is expected to grow nearly 14 percent per year from 2022 to 2030.

But though the industry is flourishing, many smaller firms could remain one-trick ponies that only produce a single product, while others may never bring an asset to market. Indeed, around 90 percent of drug candidates fail to make it to the commercialisation stage.

Read the article at INSEAD Knowledge.

Who’s Afraid of the Experience Economy?

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by Benjamin Kessler, INSEAD Knowledge

Great brand experiences drive better business outcomes, during the pandemic and beyond.

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Yet in Kobe’s experience, transitioning to the experience economy raises resistance in most established companies. Corporate leaders are uncomfortable reconfiguring so much of their business around something as fickle and unquantifiable as human emotion. That’s why he and Roger Lehman, a trained psychoanalyst, wrote Return on Experience, a monograph that alternates full-colour imagery of Eight Inc.’s most iconic projects with Q&A-style chapters exploring how and why great experiences improve business outcomes. Kobe and Lehman also delve into themes such as risk, complexity and empathy that are central to the experience economy.

Read the article at INSEAD Knowledge.

Purchase Return on Experience here.

Marked for Disruption, Deep in Denial: Law Firms at a Crossroads

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The greatest threat to the survival of law firms isn’t technological, but psychological.

Two words – Amazon Law – encapsulate the beginning of a disruption which will have consequences not only on a single industry but also at a societal level. An unconscious threat to the identity of one of the world’s oldest professions starts to creep in from different angles.

Read the article at INSEAD Knowledge.

The Business Value of Empathy

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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.

Click here or the image to listen to the podcast at INSEAD Knowledge:

Purchase Return on Experience here.

Related INSEAD Knowledge article: Who’s Afraid of the Experience Economy?

What makes a wise leader

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Roger Lehman and Prasad Kaipa discuss what makes a wise leader.

Smart leaders steer their organisations to victory, but wise leaders are needed to keep them on top in a dynamic world.
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