Alex Osterwalder is an author, entrepreneur, and leading thinker on business strategy and innovation. He is the co-founder of Strategyzer and creator of the Business Model Canvas, a tool for designing and mapping business models.

Osterwalder is coauthor of a new book, The Invincible Company, which decodes how some of the world’s leading companies have built superior business models and reinvented themselves, and the lessons that other organizations can learn. In this discussion with Martin Reeves, Chairman of the BCG Henderson Institute, Osterwalder discusses insights from the book, including innovation strategy, organization, and how to balance exploration and exploitation.