The recent Lux Research webinar “How to Unpack Opportunities in Spaces That Were Previously Misunderstood or Under-Valued” outlined how anthropology can help us build a cadence for actioning on new ideas without compromising on the ability to make a large impact across the organization. Lux Research EVP and Group Director Ujwal Arkalgud informed attendees that we under- or overvalue certain opportunities because we misunderstand trends, a changing set of beliefs.
Tensions drive culture forward and are born on the left end of the trend spectrum out of an ideology. Ideology needs to be transformed into a vulnerability. The mainstream lives in a constant tug-of-war balancing the pressure from the left and the right. Trends are resisted by the right end of the spectrum [or curve], where attachment to established ideas is strong.
However, how do we identify these changing beliefs?
Systems of beliefs shape our understanding of ideas and issues. Ujwal provided the example of nutrition and how the meaning of nutrition in our culture can be transformed when understanding the full context. He explained how the understanding of nutrition deficiency is rather technical. When nutrition deficiency is becoming a trend, it turns into nutrition gaps and establishes a connection to sleep and certain key micronutrients. When it is established as a trend, nutrition is now about feeling happy, and mainstream consumers link it to indulging in diverse tastes and styles of food.
Most organizations consider new opportunities only to then abandon them because they are assumed to be too small or too niche. This is perhaps because they are making decisions on new opportunities not yet in mainstream acceptance but instead in the ideological or vulnerable stages.
Key Takeaways:
- What is a trend? A shifting set of beliefs.
- What are the three stages of a trend? Ideology > Vulnerability > Mainstream acceptance.
- How should we value opportunities? Based on the stage they are in, and whether our solutions can cater to the needs of that stage.
Join Lux EVP & Group Director Ujwal Arkalgud as he helps you answer the question “Why do we under- or overvalue certain opportunities?” Register today to watch the on-demand webinar “How to Unpack Opportunities in Spaces That Were Previously Misunderstood or Under-Valued“!