Rory Sutherland

is much less creative and much more likely to lead to value destruction, including for the shareholders, than the pursuit of multiple objectives, the triangulation of multiple objectives, which is looking after your employees, looking after your shareholders, looking after your customers, and looking after the wider society. Okay?

is much less creative and much more likely to lead to value destruction, including for the shareholders, than the pursuit of multiple objectives, the triangulation of multiple objectives, which is looking after your employees, looking after your shareholders, looking after your customers, and looking after the wider society. Okay?

is much less creative and much more likely to lead to value destruction, including for the shareholders, than the pursuit of multiple objectives, the triangulation of multiple objectives, which is looking after your employees, looking after your shareholders, looking after your customers, and looking after the wider society. Okay?

So a multidimensional objective from a company will probably lead to a greater variety of behaviors and a greater level of creativity than a single-minded kind of reductionist objective like short-term shareholder value maximization.

So a multidimensional objective from a company will probably lead to a greater variety of behaviors and a greater level of creativity than a single-minded kind of reductionist objective like short-term shareholder value maximization.

So a multidimensional objective from a company will probably lead to a greater variety of behaviors and a greater level of creativity than a single-minded kind of reductionist objective like short-term shareholder value maximization.

And one of Kay's points, which he makes, is that if you look at the companies that have been kicking around in the Fortune 500 or the FTSE or whatever for a long, long time, It's Nestle, it's Unilever, it's Procter & Gamble, it's Reckitt, okay? It's companies which have a large marketing function which keeps them rooted in the real but changing world of what customers really want, okay?

And one of Kay's points, which he makes, is that if you look at the companies that have been kicking around in the Fortune 500 or the FTSE or whatever for a long, long time, It's Nestle, it's Unilever, it's Procter & Gamble, it's Reckitt, okay? It's companies which have a large marketing function which keeps them rooted in the real but changing world of what customers really want, okay?

And one of Kay's points, which he makes, is that if you look at the companies that have been kicking around in the Fortune 500 or the FTSE or whatever for a long, long time, It's Nestle, it's Unilever, it's Procter & Gamble, it's Reckitt, okay? It's companies which have a large marketing function which keeps them rooted in the real but changing world of what customers really want, okay?

And keeps them alert to effectively exploring new forms of value exchange which are ever-changing with technology, taste, fashion, etc., And those companies, interestingly, seem to have a much greater level of survival than companies that effectively develop some proxy measure of success other than the marketplace and seek to pursue that. Now, pursuing success in the marketplace is more difficult.

And keeps them alert to effectively exploring new forms of value exchange which are ever-changing with technology, taste, fashion, etc., And those companies, interestingly, seem to have a much greater level of survival than companies that effectively develop some proxy measure of success other than the marketplace and seek to pursue that. Now, pursuing success in the marketplace is more difficult.

And keeps them alert to effectively exploring new forms of value exchange which are ever-changing with technology, taste, fashion, etc., And those companies, interestingly, seem to have a much greater level of survival than companies that effectively develop some proxy measure of success other than the marketplace and seek to pursue that. Now, pursuing success in the marketplace is more difficult.

It's more painful. It involves you to deal in things that are highly probabilistic rather than deterministic. It's messy. But ultimately, in terms of resilience, it seems to keep companies on their game. in a way that businesses that are basically focused on what you might call internal benchmarking metrics can find themselves actually massively detached. Could you give an example? Well, okay.

It's more painful. It involves you to deal in things that are highly probabilistic rather than deterministic. It's messy. But ultimately, in terms of resilience, it seems to keep companies on their game. in a way that businesses that are basically focused on what you might call internal benchmarking metrics can find themselves actually massively detached. Could you give an example? Well, okay.

It's more painful. It involves you to deal in things that are highly probabilistic rather than deterministic. It's messy. But ultimately, in terms of resilience, it seems to keep companies on their game. in a way that businesses that are basically focused on what you might call internal benchmarking metrics can find themselves actually massively detached. Could you give an example? Well, okay.

If you pursue, yeah, I mean, if you pursue efficiency at the delivery of something, okay, you can end up very efficiently making something that people no longer want or where you're completely depositioned because effectively what you're making. So in some cases, for example, the rules of the game change.

If you pursue, yeah, I mean, if you pursue efficiency at the delivery of something, okay, you can end up very efficiently making something that people no longer want or where you're completely depositioned because effectively what you're making. So in some cases, for example, the rules of the game change.

If you pursue, yeah, I mean, if you pursue efficiency at the delivery of something, okay, you can end up very efficiently making something that people no longer want or where you're completely depositioned because effectively what you're making. So in some cases, for example, the rules of the game change.

Okay, so there will be a period where, for example, well, I'll give you a perfect example of this, okay? Which is an example I love to give. Which is, when I was a kid, okay, there were a few rich kids at school who'd been to Schiphol Airport. And they'd come back and go, it's incredible. Like, there's shops and everything you can buy.

Okay, so there will be a period where, for example, well, I'll give you a perfect example of this, okay? Which is an example I love to give. Which is, when I was a kid, okay, there were a few rich kids at school who'd been to Schiphol Airport. And they'd come back and go, it's incredible. Like, there's shops and everything you can buy.