On Principle

In an established business, how do you balance the idea of innovation—which can by nature be a little messy—and efficiency? That’s the question that confronted our guest when he took over as the creative force behind The Muny, St. Louis’ storied musical theater venue that’s been staging shows for more than a century.

This episode of On Principle is about recognizing when you’ve made a mistake and having the guts to face it—even if it means flushing millions down the drain.

We explore the drama behind new leadership decisions thanks to the business leaders who share stories in season two of On Principle. New episodes put you inside the C-suite or on the street as our guests confront these challenges. And, as usual, WashU Olin academics lend their expertise, add context and drive home the takeaways.

Leaders of firms are often very good at explaining their company’s vision and mission, but less clear on why their firm exists in the first place. We explore the economics of higher purpose in firms. What does the research say? What does it mean? And why does it matter?

How do firms know they’re getting the right bang for every buck they spend on research and development? Olin’s Anne Marie Knott explains her concept of RQ—the research quotient—and what it means for measuring the return on innovation.

Does knowing where a brand stands on the issues of the day turn off consumers? Or does it turn them on? Has the pandemic affected consumer attitudes? On Principle shares more of our interview with WashU Olin scholar Stuart Bunderson and Jesse Wolfersberger, a St. Louis-based entrepreneur whose business focuses on these issues. Both collaborated on surprising research on consumer attitudes about these questions.

David Karandish’s Answers.com was a whopping success, but he was on the ropes 90 days after he began running it. How did his earlier startups teach him to take a punch?

Cat litter isn’t sexy, but it can earn you some scratch—especially when you think out of the … um … box. Nestlé Purina PetCare CEO Nina Leigh Krueger tells the go/no-go story of a kitty innovation.

“Why does your company exist?” That’s the question Dave Ciesinski, CEO of Lancaster Colony, faced when he realized there was more to becoming “the better food company.”

When should a brand name stand up for a cause? Jason Wang has confronted that question. And he did it very publicly after attackers beat two of his workers from Xi’an Famous Foods.