The Emergent Approach to Strategy with Peter Compo: A Deep Dive into Adaptive Systems

In this episode, we welcome Peter Compo, author of 'The Emergent Approach to Strategy,' to discuss the chronic failures in strategic planning and how his new book aims to redefine strategy through the lens of complex adaptive systems. Peter explains the importance of moving away from traditional planning methods and embracing an agile, emergent approach that focuses on adaptability and real-time guidance. Drawing from 25 years of experience in corporate America, including his tenure at DuPont, Peter provides practical insights into how organizations can raise their probability of success by understanding and addressing the real bottlenecks to achieving aspirations. We explore key concepts from his book, such as the triad of aspirations, bottlenecks, and strategy, and the role of rules and constraints in fostering innovation. With a mix of theory and practical application, this episode is a must-listen for corporate leaders, business strategists, and anyone interested in innovation and strategic planning.

00:00 Introduction to Strategy Failures

01:32 Guest Introduction: Peter Compo

02:06 Elevator Pitch: New Theory of Strategy

07:29 The Role of Discipline in Innovation

07:47 Music and Corporate Strategy

12:46 Challenges in Strategy Execution

14:00 The Misunderstanding of Strategy

17:43 Planning Under Uncertainty

21:30 The Importance of Adaptive Strategy

35:57 Emergent Strategy and Mintzberg's Teachings

36:44 Deliberate vs. Emergent Strategy

37:55 Understanding Strategic Constraints

39:24 Exploring Different Strategic Approaches

41:33 Overview of Strategy Concepts

43:12 Defining Strategy Across Fields

47:18 The Role of Rules in Strategy

52:22 The Triad of Aspiration, Bottleneck, Strategy

01:02:45 Consulting and Real-World Applications

01:07:22 Conclusion and Resources

Link to Frank Barrett's episode "Yes to the Mess" part 1 and 2:

https://youtu.be/xgkk-Vlgtt0?si=-Ddv-aGFj8XtsDrF

https://youtu.be/D7dR5Gi7i80?si=bJ3NhwhhnuYWgVbl

Link to Peter's website:

https://emergentapproach.com

Link to Peter's Music:

https://www.youtube.com/channel/UCJsn2zbnx8dwvHJrisdkAtg

Link to Aidan McCullen for Keynotes, workshops and event MC:

https://theinnovationshow.io

Find us on Substack for Shownotes and competitions:

https://thethursdaythought.substack.com

strategy, innovation, complex adaptive systems, Peter Compo, Aidan McCullen, DuPont, emergent approach, strategy definition, corporate strategy, business strategy, adaptive systems, strategy framework, Roger Martin, Michael Porter, Mintzberg, Charlie Parker, jazz improvisation, creativity in strategy, bottleneck, aspirations, goals, execution, discipline in strategy, innovation challenges, long-term planning, organizational change, innovation process, strategic planning, decision making, business leadership, corporate America