Two reasons companies fail -- and how to avoid them | Knut Haanaes

Translator: Ánxelo Gonzalves Reviewer: Xusto Rodriguez

Here are two reasons companies fail:

Existen dúas razóns polas que as empresas quebran:

they only do more of the same,

ou só fan sempre o mesmo

or they only do what's new.

ou só fan cousas novas.

To me the real, real solution to quality growth

Para min a verdadeira solución para un crecemento de calidade

is figuring out the balance between two activities:

é encontrar o equilibrio entre estas dúas actividades:

exploration and exploitation.

exploración e aproveitamento.

Both are necessary,

Ambas son necesarias,

but it can be too much of a good thing.

mais podemos caer na esaxeración.

Consider Facit.

Pensemos en Facit.

I'm actually old enough to remember them.

Eu son vello abondo para me lembrar.

Facit was a fantastic company.

Facit era unha empresa fantástica.

They were born deep in the Swedish forest,

Naceu nos profundos bosques suecos,

and they made the best mechanical calculators in the world.

e fabricaba as mellores calculadoras mecánicas do mundo.

Everybody used them.

Todo o mundo as usaba.

And what did Facit do when the electronic calculator came along?

E que fixo Facit cando apareceron as calculadoras electrónicas?

They continued doing exactly the same.

Continuaron a facer exactamente o mesmo.

In six months, they went from maximum revenue ...

No intervalo de seis meses pasaron dos máximos beneficios...

and they were gone.

a desapareceren.

Gone.

Fóronse.

To me, the irony about the Facit story

Para min, o que me resultou irónico na historia de Facit

is hearing about the Facit engineers,

foi saber que os seus enxeñeiros

who had bought cheap, small electronic calculators in Japan

compraran pequenas e baratas calculadoras electrónicas no Xapón,

that they used to double-check their calculators.

e usábanas para testar as súas calculadoras.

(Laughter)

(Risos)

Facit did too much exploitation.

Facit esaxerou no aproveitamento.

But exploration can go wild, too.

Mais a exploración tamén pode ser excesiva.

A few years back,

Hai uns anos,

I worked closely alongside a European biotech company.

traballei cunha empresa europea de biotecnoloxía.

Let's call them OncoSearch.

Imos chamarlle OncoSearch.

The company was brilliant.

A empresa era brillante.

They had applications that promised to diagnose, even cure,

Tiña aplicacións que prometían diagnosticar e mesmo curar

certain forms of blood cancer.

algúns tipos de cancro do sangue.

Every day was about creating something new.

Todos os días querían crear cousas novas.

They were extremely innovative,

Eran extremadamente innovadores e o seu lema era:

and the mantra was, "When we only get it right,"

"Até que o conseguirmos"

or even, "We want it perfect."

ou, mesmo: "Até que sexa perfecto".

The sad thing is,

O triste é que,

before they became perfect --

antes de se tornaren perfectos,

even good enough --

ou, sequera, o suficientemente bos,

they became obsolete.

tornáronse obsoletos.

OncoSearch did too much exploration.

A OncoSearch esaxerou na exploración.

I first heard about exploration and exploitation about 15 years ago,

Ouvín falar sobre este tema por primeira vez hai perto de 15 anos,

when I worked as a visiting scholar at Stanford University.

cando estaba como investigador convidado na Universidade de Stanford.

The founder of the idea is Jim March.

O fundador da idea é Jim March.

And to me the power of the idea is its practicality.

Para min, a vantaxe da idea é que resulta práctica.

Exploration.

Exploración.

Exploration is about coming up with what's new.

Exploración é chegar a algo novo.

It's about search,

É investigar,

it's about discovery,

é descubrir,

it's about new products,

son novos produtos,

it's about new innovations.

é innovar,

It's about changing our frontiers.

é mudar as nosas fronteiras.

Our heroes are people who have done exploration:

As persoas que admiramos son as que se dedicaron a explorar:

Madame Curie,

Madame Curie,

Picasso,

Picasso,

Neil Armstrong,

Neil Armstrong,

Sir Edmund Hillary, etc.

Sir Edmund Hillary, etc.

I come from Norway;

Eu son de Noruega.

all our heroes are explorers, and they deserve to be.

Todas as persoas que alí admiramos son exploradoras e todas o merecen.

We all know that exploration is risky.

Todas e todos sabemos que explorar é arriscado.

We don't know the answers,

Descoñecemos as respostas,

we don't know if we're going to find them,

non sabemos se as iremos encontrar,

and we know that the risks are high.

e sabemos que o risco é elevado.

Exploitation is the opposite.

O aproveitamento é o oposto.

Exploitation is taking the knowledge we have

O aproveitamento consiste en usar o que xa sabemos

and making good, better.

para tornar o bo en mellor.

Exploitation is about making our trains run on time.

Aproveitamento é facer que os trens cheguen a tempo.

It's about making good products faster and cheaper.

É crear bos produtos, máis axiña e máis barato.

Exploitation is not risky --

O aproveitamento non é arriscado...

in the short term.

a curto prazo.

But if we only exploit,

Mais se nos dedicamos só ao aproveitamento,

it's very risky in the long term.

é moi arriscado a longo prazo.

And I think we all have memories of the famous pop groups

Imaxino que todas e todos sabemos de bandas de pop famosas

who keep singing the same songs again and again,

que cantan as mesmas cancións constantemente,

until they become obsolete or even pathetic.

até convertérense en obsoletas ou mesmo patéticas.

That's the risk of exploitation.

Ese é o risco do aproveitamento.

So if we take a long-term perspective, we explore.

Por iso, se adoptamos unha perspectiva de longo prazo, exploramos.

If we take a short-term perspective, we exploit.

Se adoptamos unha perspectiva de curto prazo, aproveitamos.

Small children, they explore all day.

As crianzas están todo o día a explorar.

All day it's about exploration.

Dedican todo o día a explorar.

As we grow older,

Conforme imos crecendo

we explore less because we have more knowledge to exploit on.

exploramos menos, porque temos máis coñecemento que aproveitar.

The same goes for companies.

O mesmo acontece coas empresas.

Companies become, by nature, less innovative

As empresas viran, por natureza, menos innovadoras

as they become more competent.

conforme se van facendo máis competentes.

And this is, of course, a big worry to CEOs.

Iso, claro, é unha importante preocupación para quen a dirixe.

And I hear very often questions phrased in different ways.

Escoito moitas veces preguntas, formuladas de diferentes formas.

For example,

Por exemplo:

"How can I both effectively run and reinvent my company?"

"Como podo xestionar e reinventar eficazmente a miña empresa?",

Or, "How can I make sure

ou: "Como podo ter a certeza

that our company changes before we become obsolete

de que a nosa empresa muda antes de se tornar obsoleta

or are hit by a crisis?"

ou ser afectada por unha crise?".

So, doing one well is difficult.

Facer unha cousa ben é difícil.

Doing both well as the same time is art --

Facer as dúas cousas ben ao tempo, é unha arte

pushing both exploration and exploitation.

(promover tanto a exploración como o aproveitamento).

So one thing we've found

E algo que descubrimos é que

is only about two percent of companies are able to effectively explore

só o 2% das empresas teñen capacidade efectiva

and exploit at the same time, in parallel.

para explorar e aproveitar ao mesmo tempo, de forma paralela.

But when they do,

Mais cando o fan,

the payoffs are huge.

os beneficios son enormes.

So we have lots of great examples.

Temos moitos bos exemplos.

We have Nestlé creating Nespresso,

Temos a Nestlé, que creou o Nespresso,

we have Lego going into animated films,

temos a Lego, póndose a facer filmes de animación,

Toyota creating the hybrids,

a Toyota, que creou os híbridos,

Unilever pushing into sustainability --

a Unilever, que promove a sustentabilidade.

there are lots of examples, and the benefits are huge.

Existen moitos exemplos, e os beneficios son enormes.

Why is balancing so difficult?

Por que o equilibrio é tan difícil?

I think it's difficult because there are so many traps

Eu penso que é difícil porque existen moitas trampas

that keep us where we are.

que nos atrapan onde estamos.

So I'll talk about two, but there are many.

Vou falar de dúas, mais existen moitas máis.

So let's talk about the perpetual search trap.

Falemos, pois, da trampa da busca permanente.

We discover something,

Descubrimos algo,

but we don't have the patience or the persistence

mais non temos a paciencia ou a persistencia

to get at it and make it work.

para traballalo e facer que funcione.

So instead of staying with it, we create something new.

E, en vez traballalo, facemos algo novo.

But the same goes for that,

E volve acontecer o mesmo

then we're in the vicious circle

e entramos no círculo vicioso

of actually coming up with ideas but being frustrated.

de ter moitas ideas que se frustran.

OncoSearch was a good example.

OncoSearch era un bo exemplo.

A famous example is, of course, Xerox.

Un exemplo famoso é, claro, Xerox.

But we don't only see this in companies.

Mais isto non acontece só nas empresas,

We see this in the public sector as well.

tamén o vemos no sector público.

We all know that any kind of effective reform of education,

Todas e todos sabemos que calquera reforma no ensino,

research, health care, even defense,

na investigación, na saúde ou mesmo na defensa,

takes 10, 15, maybe 20 years to work.

precisa 10, 15 ou 20 anos para funcionar.

But still, we change much more often.

Aínda así, nós mudamos con moita máis frecuencia.

We really don't give them the chance.

Non lles damos unha verdadeira oportunidade.

Another trap is the success trap.

Outra trampa é a trampa do éxito.

Facit fell into the success trap.

Facit caeu na trampa do éxito.

They literally held the future in their hands,

Tiñan, literalmente, o futuro nas súas mans,

but they couldn't see it.

mais non se deron conta.

They were simply so good at making what they loved doing,

Facían tan ben aquilo que lles gustaba,

that they wouldn't change.

que optaron por non mudar.

We are like that, too.

Nós tamén somos así.

When we know something well, it's difficult to change.

Cando sabemos facer algo ben é difícil mudar.

Bill Gates has said:

Bill Gates dixo:

"Success is a lousy teacher.

"O éxito é pésimo profesor.

It seduces us into thinking we cannot fail."

Sedúcenos facéndonos pensar que non podemos errar".

That's the challenge with success.

Ese é o desafío do éxito.

So I think there are some lessons, and I think they apply to us.

Penso que aquí hai algunhas leccións que poden servirnos a nós

And they apply to our companies.

e ás nosas empresas.

The first lesson is: get ahead of the crisis.

A primeira lección consiste en adiantarse á crise.

And any company that's able to innovate

Calquera empresa capaz de innovar

is actually able to also buy an insurance in the future.

está, á vez, a contratar un seguro para o futuro.

Netflix -- they could so easily have been content

Netflix podía terse contentado, moi facilmente,

with earlier generations of distribution,

coas primeiras formas de distribución,

but they always -- and I think they will always --

mais sempre están (e penso que continuarán)

keep pushing for the next battle.

a prepararse para seguinte batalla.

I see other companies that say,

Vexo outras empresas que din:

"I'll win the next innovation cycle, whatever it takes."

"Venceremos no próximo ciclo de innovación custe o que custar".

Second one: think in multiple time scales.

A segunda consiste en pensar en diferentes prazos de tempo.

I'll share a chart with you,

Vou mostrarvos un gráfico.

and I think it's a wonderful one.

Penso que é unha marabilla.

Any company we look at,

Ollemos para a empresa que ollemos,

taking a one-year perspective

na perspectiva de un ano,

and looking at the valuation of the company,

e reparando no valor da empresa,

innovation typically accounts for only about 30 percent.

habitualmente a innovación representa apenas arredor do 30%.

So when we think one year,

Por iso, cando pensamos en un ano,

innovation isn't really that important.

a innovación non é moi importante.

Move ahead, take a 10-year perspective on the same company --

Pasemos a unha perspectiva de 10 anos na mesma empresa.

suddenly, innovation and ability to renew account for 70 percent.

De repente, innovación e capacidade de renovación representan o 70%.

But companies can't choose.

Mais as empresas non poden escoller:

They need to fund the journey and lead the long term.

precisan financiar o camiño e liderar a longo prazo.

Third:

Terceira:

invite talent.

estimular a crítica.

I don't think it's possible for any of us

Non penso que poidamos, ninguén de nós,

to be able to balance exploration and exploitation by ourselves.

equilibrar exploración e aproveitamento pola nosa conta.

I think it's a team sport.

Penso que se trata dun deporte de equipo.

I think we need to allow challenging.

Penso que debemos permitir a crítica.

I think the mark of a great company is being open to be challenged,

Penso que o caracteriza unha grande empresa é a abertura á crítica,

and the mark of a good corporate board is to constructively challenge.

e o que caracteriza unha boa xerencia é a crítica construtiva.

I think that's also what good parenting is about.

Penso que niso consiste tamén ser un bo pai.

Last one: be skeptical of success.

A última: escepticismo ante o éxito.

Maybe it's useful to think back at the old triumph marches in Rome,

Quizais sexa útil pensarmos no pasado, nas marchas triunfais de Roma,

when the generals, after a big victory,

cando aos xenerais, após unha gran vitoria,

were given their celebration.

se lles ofrecía unha homenaxe.

Riding into Rome on the carriage,

Cando entraban en Roma, nas súas carruaxes,

they always had a companion whispering in their ear,

tiñan sempre un compañeiro a murmurarlles ao ouvido:

"Remember, you're only human."

"Lembra que apenas es humano".

So I hope I made the point:

Espero que isto quedase claro:

balancing exploration and exploitation

alcanzar o equilibrio entre exploración e aproveitamento

has a huge payoff.

comporta grandes recompensas.

But it's difficult, and we need to be conscious.

Mais é difícil, e debemos ser conscientes.

I want to just point out two questions that I think are useful.

Quero apenas recalcar dúas cuestións que penso que son útiles.

First question is, looking at your own company:

Primeiro, reparade na vosa empresa.

In which areas do you see that the company is at the risk

En que áreas pensades que a empresa está en risco

of falling into success traps,

de caer na trampa do éxito,

of just going on autopilot?

de estar só en piloto automático?

And what can you do to challenge?

E que podedes facer para as estimular?

Second question is:

A segunda cuestión que compre facerse é:

When did I explore something new last,

"Cando probei algo novo por última vez,

and what kind of effect did it have on me?

e que tipo de consecuencias tivo para min?

Is that something I should do more of?

Será algo que deba facer máis?".

In my case, yes.

No meu caso, si.

So let me leave you with this.

De modo que permitídeme deixarvos con esta idea.

Whether you're an explorer by nature

Quer sexades persoas exploradoras por natureza,

or whether you tend to exploit what you already know,

quer teñades a tendencia a aproveitar o que xa sabedes,

don't forget: the beauty is in the balance.

non esquezades que a beleza está no equilibrio.

Thank you.

Grazas.

(Applause)

(Aplauso)