In this episode, Paul Spencer unpacks the tension between specialization, interdependence, and resilience in business using lessons from Deming, economic theory, and even the story of a simple pencil. Through relatable anecdotes and thoughtful analysis, Paul highlights how strong supplier relationships, systemic awareness, and high-quality standards are crucial for success in an unpredictable world. You'll hear surprising insights about risk, the true value of simplicity, and how deeply connected we all are—both in business and life. Tune in for practical wisdom that will challenge your assumptions and help you navigate complexity with greater clarity.
Connect with Paul
Website: https://www.secondnature.solutions/
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LinkedIn: https://www.linkedin.com/in/paul-spencer-7252118/
Chapters
(00:01) Debating Deming’s Single Supplier Principle
(02:29) Navigating Supply Chain Risks and Dichotomies
(04:37) Value Beyond Price in Business Relationships
(06:30) Specialization and Interdependence in Economics
(10:44) Simplicity, Quality, and Customer Expectations
(16:59) Interdependence, Cascading Effects, and Risk
(21:28) Personal and Social Dimensions of Interdependence
