A Novel Approach
INSEAD Knowledge
Impactful research and thought leadership from INSEAD, The Business School for the World
Dried-up supply chains, power-hungry electric cars, feuding team members. Across industries in today’s shape-shifting business landscape, problems and crises are a feature rather than a quirk. But we've got you covered.
Our articles this month are full of innovative strategies and counterintuitive solutions to conundrums brought about by technological disruption, emerging trends and – the peskiest of them all – human nature. All of them, as always, are backed by the research and practitioner insights of INSEAD professors and their collaborators.
Drug shortages are a growing problem around the world, disrupting patient care and endangering public health. From a systems perspective, supply chain risk management plays a critical role in improving access to drugs. What we need is a simple way to frame the problem.
Tilburg University’s Thomas Breugem , INSEAD’s Iman Parsa and Luk Van Wassenhove, and BI Norwegian Business School’s Kim van Oorschot developed a two-dimensional matrix to classify drugs based on medical criticality and supply chain risk. They explain how this tool can help doctors, distributors, manufacturers and other stakeholders identify the most appropriate interventions to address drug shortages.
Resentment among team members can be a major barrier to productivity and success. INSEAD’s Nadav Klein offers tips on how to reduce resentment and create a more positive and collaborative work environment.
His solution is simple if counterintuitive: Create situations where team members must rely on each other. Engage them in tasks or set organisational goals that make them work together. It’s hard to resent someone you?need help from.
Ever since electric vehicles became a thing, humankind has acquired a new worry: range anxiety, that niggling fear that your car is going to stall miles away from the next charging point. Nio, a Chinese EV maker, is on a mission to remedy this, writes INSEAD’s Chengyi Lin .
Nio offers battery swaps that can be completed in as little as three minutes, thanks to its network of charging stations and unique chassis design. The company also boasts a battery subscription service that allows customers to pay for battery usage rather than the upfront cost of the battery.
Since the rise of Samsung and BTS, South Korea has become known for its own brand of style and pop culture. Now, South Korean brands are creating a new kind of cultural economy using immersion, a marketing approach that engages consumers on a deep, multisensory level, says INSEAD’s David Dubois .
Through K-pop and Gentle Monster, a fast-growing eyewear brand, Dubois uncovers how South Korean brands offer value to customers through immersive experiences, from discovery to purchase. He suggests ways other brands can employ a similar strategy to elevate their offerings.
Disruptive technologies can pose a major threat to established businesses. But as the saying goes, when the going gets tough, the tough get going. Under-threat companies can fight back, says INSEAD’s Nathan Furr and Brigham Young University’s Daniel Snow .
Firms can improve their existing technology or combine old and new technology into a whole new product, like a hybrid car. Which counter-offensive strategy is the most effective depends on their customers’ preferences and needs.
We hope these articles have inspired you to approach problems from different, innovative angles. For more insights, watch this INSEAD Explains video series on the unintended consequences of generative AI. Do also check out the latest research highlights from Dean of Research and Innovation Lily Fang .
Have a knowledgeable day ahead!
The INSEAD Knowledge team
?