Changing Tack
The Bottom Line
BBC
4.6 • 615 Ratings
🗓️ 13 October 2022
⏱️ 29 minutes
🧾️ Download transcript
Summary
What happens when your business vision doesn't stack up or your long-standing business needs to make changes to keep up with a changing market and customer taste? Do you make a U-turn or a pivot as it's known in business. How do you know when is the right time and how do you get your employees and managers to go with you? Evan Davis and guests discuss.
GUESTS
Matthew Bannister, Broadcaster and Presenter, Folk on Foot podcast
Liz Earle, Beauty and Wellness Entrepreneur, Editor-in-Chief, Liz Earle Wellbeing magazine
and
Jessica Spungin, Adjunct Professor of Strategy and Entrepreneurship, London Business School
PRESENTER: EVAN DAVIS
PRODUCTION TEAM
Producers: Julie Ball and Nick Holland Editor: Tara McDermott Sound: Neil Churchill/Rod Farquhar Production Co-ordinators: Siobhan Reed & Helena Warwick-Cross
Transcript
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| 0:00.0 | BBC Sounds, Music, Radio, Podcasts. |
| 0:04.9 | Hello, welcome to the programme. |
| 0:07.2 | For reasons that don't really need explaining, |
| 0:09.6 | there's been a lot of chat about U-turns lately. |
| 0:12.6 | Having a plan, trying to stick to the plan, |
| 0:15.7 | and then maybe reluctantly abandoning the plan, |
| 0:18.6 | or at least modifying it. |
| 0:20.5 | It's obviously a fascinating topic in |
| 0:22.7 | politics at the moment where generally it's considered big negative to U-turn, although still better |
| 0:28.2 | to U-turn than to stick to the wrong plan. But we don't do politics on the bottom line. There is, |
| 0:33.5 | however, a business take on U-turns and plans and pivots, and we thought we might focus on it today. |
| 0:41.1 | The idea of having a plan, do you even need one? |
| 0:43.8 | How long you pursue it and when you should pivot to use that business-friendly word for abandoning a previous idea. |
| 0:51.2 | Do you aim for revolution in business or evolution and how do you take people |
| 0:55.4 | with you? So many interesting questions about changing plans in business. Many questions I'm |
| 1:02.1 | sure the Prime Minister would be interested in, but we have three guests. Two have management |
| 1:06.9 | tales to tell and one has studied the theory. Matthew Bannister is with us, the former BBC |
| 1:12.7 | executive, who took on the formidable job of transforming Radio One. Matthew Korsenau, a broadcaster, |
| 1:19.2 | a familiar voice on Radio 4, and presenter of his own podcast series, folk on foot, which he describes |
| 1:26.0 | as an all-walking, talking and folk music singing |
| 1:29.4 | podcast. Matthew, take us back to what your job title was and when we're talking. |
| 1:34.9 | We're talking about the 1990s, so nearly 30 years ago now. In 1993, I was appointed as |
... |
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