The Innovation Show

In part 2 of The Entrepreneurial Mindset, Rita McGrath, discusses the concept of the entrepreneurial mindset and the power of consumption chain analysis for businesses seeking to differentiate and innovate.    Rita illustrates how understanding each step of a customer's journey, from need identification to product disposal, can unveil numerous opportunities for innovation and competitive advantage.    She shares insightful examples ranging from grocery shopping to the historical battle between Betamax and VHS, highlighting the importance of aligning each step of the consumption chain to customer needs and preferences.    She also touches on the significance of resegmenting markets and reconfiguring industries to capture new opportunities, using examples from automobile insurance and manufacturing.    The episode offers a deep dive into how companies can apply these concepts to drive growth, challenge assumptions, and transform their competitive landscapes.   00:00