Takeaways from Nordic Business Forum 2023

Patrick Lencioni

The event commenced with an electrifying keynote by Pat Lencioni. His presence filled the expansive hall, exuding energy to every corner.

Pat emphasized two main concepts: "The Five Dysfunctions of a Team" and "The 6 Types of Working Genius." He shared a personal workplace story that led to the development of the "Working Genius" concept, highlighting its practical nature.

In great detail, Pat explained the Working Genius model, providing numerous examples and personal anecdotes. The audience seemed captivated, grasping the essence of this method.

He also discussed Psychological Safety and Vulnerability-based Trust, building upon these fundamental concepts to illustrate their contributions to a healthy team. Despite "The Five Dysfunctions of a Team" being around for decades, it feels more relevant than ever.

Compared to many over-engineered and complex personality assessments, Pat's models stand out with their simplicity and common sense.

Jos de Blok

Following Pat, Jos de Blok offered a contrasting perspective on leadership and organizational structures.

Jos advocates for local connections over global hierarchies, stating, "We do not need bosses; we got used to the idea, but it's unnecessary."

In Dutch Healthcare, Jos identified organizational problems, leading to slow, impersonal systems. By building trust and relationships between nurses, patients, and communities, Jos found that healthcare outcomes improved when the teams were trusted to organize themselves. Allowing people to take charge of their roles was the solution.

While his ideology of "self-leading organizations" challenged traditional notions, Jos's emphasis on simplicity resonated with me.

Rebecca Henderson

"We are shaking the foundations of the world we have built."

In her heartfelt talk, Henderson addressed the harsh reality of climate change. She used Florida as an example, explaining how the ever more volatile weather caused by climate change makes the state less lucrative and affects regional economics. Insuring homes and businesses in Florida becomes more expensive, burdening the state with the responsibility of public infrastructure. This leads to a cycle of increased taxes, causing move people moving out and leading to cycle that will ultimately bankrupt the state.

Henderson used Florida as a proxy example for what she predicts will happen to all economies if we keep the current path.

Henderson also highlighted positive changes, such as clean energy cutting global warming predictions in half. Governments and free markets are collaborating to solve public problems and make a positive impact. She commended China for its strides in carbon control.

Businesses that prioritize purpose over profit are treating people well and making a positive difference. The Nordics, with their wealth, education, and social equality, can lead the way for the rest of the world.

Scott Galloway

Charismatic, unconventional, confident, and sarcastic, Scott Galloway was perhaps the most captivating and controversial speaker at the event.

His presentation had a volatile flow, seemingly an improvised rant about random topics he felt strongly about. However, it was carefully thought out and prepared, exuding authenticity.

Galloway holds negative opinions about Social Media, particularly Meta as a company. He criticizes Meta for monetizing "rage" by polarizing people using algorithms. He highlights that fines against Meta, while significant for laypeople, are insignificant as "bugs in the windshield" compared to their profits.

Galloway values practical use of AI over hyped concepts like the Metaverse. He believes we are drowning in data and emphasizes using AI to refine it as the new gold rush.

Despite his skepticism toward new technologies, Galloway acknowledges the significant boost AI has given to productivity. He predicts that AI will bring substantial changes to the global economy by making things more affordable. Having a smart AI strategy is crucial for businesses going forward.

Tim Ferriss

As a long-time fan of Tim Ferriss, I was eagerly looking forward to seeing him live in Helsinki. Instead of a typical presentation, Tim opted for an interview format with Jari Sarasvuo, a Finnish media and business luminary. While Jari may be esteemed within Finnish standards, his performance on stage with someone as authentic and verbally talented as Tim fell a bit short.

Tim shared his learnings and methods for personal productivity and well-being, touching on the following points:

- For most business projects, Tim's team uses a six-month horizon. He prioritizes learning and relationships, recognizing that even if a project fails, the lessons and connections gained are valuable for future endeavors.

- Tim introduced the DSSS model for business and development projects:

- D for deconstruction, which involves breaking challenging tasks into smaller, less overwhelming chunks.

- S for selection, focusing on the critical elements for success.

- S for sequencing, determining the order of execution.

- S for stakes, setting relevant incentives.

- Tim also emphasized physical well-being, highlighting the importance of strength training. He believes that if there's only one thing a person has time or motivation for, it should be strength training. He also stressed the negative effects of prolonged sitting and the importance of mobility work to counteract them.

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