539: A strategy to navigate a paradox (with Wendy Smith)

539: A strategy to navigate a paradox (with Wendy Smith)

Welcome to an episode with an expert on organizational paradoxes, Wendy Smith. Get Wendy's Book here: https://amzn.to/3fF1b8C

When faced with a tough decision-making situation, it is common for us to assess and select what we believe is the best deal and then move on. We tend to assume that we need to pick one option and eliminate the other. But what if we could actually succeed in pursuing both options?

In this episode with Wendy Smith, we discuss how leaders and individuals can effectively respond to contradictory yet interdependent demands and have the mindset shift needed to successfully navigate a paradox.

Wendy Smith is the Dana J. Johnson Professor of Management and faculty director of the Women's Leadership Initiative at the Lerner College of Business and Economics, University of Delaware. She earned her PhD in organizational behavior at Harvard Business School, where she began her intensive research on strategic paradoxes—how leaders and senior teams effectively respond to contradictory yet interdependent demands.

Working with executives and scholars globally, she received the Web of Science Highly Cited Research Award (2019, 2020, and 2021) for being among the 1 percent most-cited researchers in her field and received the Decade Award (2021) from the Academy of Management Review for the most cited paper in the past 10 years. Her work has been published in such journals as Academy of Management Journal, Administrative Science Quarterly, Harvard Business Review, Organization Science, and Management Science.

She has taught at the University of Delaware, Harvard University, and the University of Pennsylvania–Wharton while helping senior leaders and middle managers all over the world address issues of interpersonal dynamics, team performance, organizational change, and innovation.

Wendy lives in Philadelphia with her husband, three children, and the family dog.

Get Wendy's book here:

Both/And Thinking: Embracing Creative Tensions to Solve Your Toughest Problems. Wendy Smith, Marianne Lewis, Amy C. Edmondson. https://amzn.to/3fF1b8C

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Episoder(816)

56: Richard Ivey Case Interview Advice

56: Richard Ivey Case Interview Advice

Richard Ivey in Southern Ontario is one of the 4 great case schools in the world - along with Harvard, IESE and Darden - and a school with which we have a deep affiliation given our client history. In recent years we have had much fewer clients, but we still retain a deep understanding of the program and receive many queries from Ivey candidates. This podcast details some of the common questions we receive from Ivey candidates in the hope it answers them all in one location. Much of the advice is counter-intuitive and we hope it helps with your own case interview preparation.

10 Feb 201223min

55: Inspiring Asian Client's Story

55: Inspiring Asian Client's Story

As a policy, we do not write much about our clients. However, I felt this story was worth sharing. A candidate from an unknown school, from one of the poorest developing countries in the world, lands an offer at BBM. In fact, the first from her country. I have heavily disguised her details to protect her identity. Note, this client was a Firmsconsulting Emerging Fellow, the very first and the reason we started this program, when she was admitted to our program and is part of the scholarship program we run to identify and groom outstanding individuals from the emerging markets and inner cities.

4 Feb 201231min

54: Summer Reading Books

54: Summer Reading Books

These are the 4 books we recommend for summer reading. Two, are among the most important books for management consulting that we recommend for all management consultants. "McKinsey's Marvin Bower" is a book we recommend to every single and aspiring consultant and is the foundation of understanding the values of management consulting.

29 Jan 20127min

53: Some Consultants mislead

53: Some Consultants mislead

This podcast discusses one of the most common problems for candidates. When consultants are indifferent, unwilling to give bad news or insufficiently informed, they can provide misleading information which costs time and money. The irony is that candidates place too much emphasis on this feedback and sometimes hurt their chances. We discuss the reasons why this happens, common phrases to be aware off and ignore and how to carefully read between the lines when accepting feedback.

23 Jan 201219min

52: Proving our techniques on dialogue

52: Proving our techniques on dialogue

Last week we attended a graduation dinner for a candidate, who insisted we prove to her that it is possible to speak authoritatively on any subject and with zero preparation. She introduced us to a doyen of health economics to test this theory. FYI – we were not prepped in advance and do not know anything about the field. We wanted to show her techniques to manage such situations. Listen to what happens.

17 Jan 201218min

51: Networking Mistakes

51: Networking Mistakes

Tackles some the recent problems we have seen with candidates. We have tried to stay away from conventional advice and address issues not commonly discussed. Since this is largely based on the tactics we advise our clients to follow, it is bound to be counter to the plethora of advice you find in many books and on many sites.

11 Jan 201219min

50: Analyst-Partner mistakes

50: Analyst-Partner mistakes

This long podcast (60 minutes) examines the common mistakes consultants make at each level of their career. I have gone into some detail to explain my own mistakes, and that of former and current colleagues. Some of the advice is counter-intuitive and I have stayed away from generic advice. This will be very useful to aspiring consultants who need to understand what it takes to succeed at each level.

5 Jan 201259min

49: Join Accenture etc?

49: Join Accenture etc?

We get this question more times than you can imagine. We also get a chorus of Accenture people telling us we are wrong, and they are "eating McKinsey's lunch." I think the question posed is incorrect and the defense of Accenture is incorrect. This podcast explains why. BBM are good at advising decision makers on general management issues. They excel at that. They are pretty much no-where in the implementation space. Accenture, Deloitte SO etc have their areas of strength, but it is not in the general management advisory space. They are both good at different things. Decide what you want to do and then pick the firm. However, don't assume a firm is good everything, and if you have never worked at BBM, don't believe everything your Accenture/Deloitte/[add your firms name here] partner says. Get first-hand information. FYI – Kennedy Research, the Economist and IDC Research are not first-hand information and neither is getting the opinion of a junior person or someone with just one or two years experience.

30 Des 201113min

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