HBS
News from Harvard Business School
“As a student at Harvard Business School, you’ll have the opportunity to realize your personal career vision with the help of resources available to you through the Career & Professional Development Office. The summer internship is a great way to explore a new industry, function area, or location or further your pre-HBS industry experience.
“As summer winds down and our second-year MBA students are preparing to come back to class, we wanted to take the opportunity to share reflections from the Class of 2019’s internship experiences.”
A half dozen of Harvard’s students write about their varied experiences over the summer, from Pascal Kriesche who followed his dream to launch a startup that is the first fully-automated, free-standing smoothie machine for offices to Madeline Keulen who spent the summer at at Victress Capital, an early-stage venture capital (VC) firm.
After having completed her first year at HBS, Paula Vich Serra spent her summer as an intern in the strategy department of Zalando, the leading online fashion platform in Europe. “At HBS,” she wrote, “we are constantly told that if there is a time to make a mistake, business school is the perfect one. Hence, my goal for the summer internship was to get out of my comfort zone and test the following hypothesis:
- Can I thrive in an unstructured, fairly chaotic environment?
- Is fashion the industry where I want to spend the next 30 years of my professional career?
- Can I easily adapt to a different culture in a professional context?”
UCLA
Why Can’t We All Get Along? On Some Things, We Do
News from UCLA Anderson School of Management
“If you believe the pundits, Americans are divided as never before. Red states versus blue. Black versus white. Men versus women. Young against the old. This barely contained intramural warfare has created dysfunctional politics and is ripping apart the social fabric.
“Not so fast. Southern Methodist University’s Klaus Desmet and UCLA Anderson’s Romain Wacziarg suggest in a working paper that the picture is a lot more complicated — and not nearly so dire.”
Vanderbilt MBA’17 hires by job function
Source: School 2017 MBA employment report
Switching Into A Consulting Career: What You Need To Know
News from Vanderbilt University Owen Graduate School of Management
“Alongside finance, consulting is one of the most popular functions for MBA candidates to land in after graduation: 22% of the Vanderbilt MBA Class of 2017 accepted a consulting job. Many of those applicants had never worked in consulting before and used their MBA degrees to transition into the function.
“We talked to Emily Anderson, Director of the Career Management Center, to find out everything you need to learn before you switch into a consulting career.”
Kellogg
Conspiracy Theories Abound. Here’s How To Curb Their Allure.
News from Northwestern University Kellogg School of Management
“From Pizzagate to the grassy knoll, conspiracy theories often move from the margins of public life to the center. One 2014 study estimates that, in any given year, about half of Americans believe at least one conspiracy theory.
“While some are fairly innocuous, others have life-threatening consequences. During the 2014 Ebola outbreak in West Africa, many people came to believe the health workers trying to treat them were actually trying to infect them. As a result, they avoided medical treatment.
“Cynthia Wang has watched the spread of conspiratorial thinking with fascination — ‘Who is not interested in conspiracies?’ she says — but also with concern. ‘You start wondering, what causes people to come up with these alternative explanations that sometimes seem outlandish?’ says Wang, a clinical professor of management and organizations at the Kellogg School.”
Students participating in the GNAM program in Ireland concluded their week preparing and sharing traditional Irish food at Ballyknocken Cookery School with owner and chef Catherine Fulvio. Haas photo
Berkeley Haas Students’ Globe-Trotting Education
“On a recent study trip to Ireland, Laura Hassner found herself in a Dublin supermarket chatting with a Slovakian classmate who co-owns 250 bakery outlets about the difference between stores that buy dough from factories versus those that bake from scratch.
“For Hassner, an executive MBA student at the UC Berkeley’s Haas School of Business, the conversation was one of many outlining the challenges facing small businesses as well as conglomerates that she took part in during a ‘The Future of Food’ course taught at University College Dublin’s Michael Smurfit Graduate Business School. The course, with 30 international students enrolled, is one of many offered through the Global Network for Advanced Management (GNAM), an international consortium of 30 business schools that Berkeley Haas joined three years ago.”
Chatting with Barry Nalebuff, Milton Steinbach Professor at Yale SOM and cofounder with Seth Goldman ’95 of Honest Tea. Yale SOM photo
Leveraging The Yale Entrepreneurship Ecosystem
News from Yale SOM
“I was born and grew up in Belgium. At home we spoke French and English, and I studied in Dutch. As a family we traveled a lot to the U.S. and Spain and lived there for months at a time. Taking the time to participate in local life made me love the differences of cultures and pushed my curiosity about how ‘things’ worked around the world. This led me to study food science and engineering in Brussels and Canada. I chose these studies because, as much as cultures might differ from each other, food always plays a central role in any society.
“After graduation I started working in the natural food ingredient industry. The food industry has a large impact both people and the environment. Food ingredient suppliers sit between farmers and end consumers, so they are concerned about the sustainability of their raw material as well as the health impact of their ingredients. This is all tied together by emotions. Recently, many startup companies have found ways to disrupt the food industry by being more conscious about the ingredients they use — a field where I feel I can help greatly. This need — and my hope for healthier and more sustainable food — have strongly attracted me to these entrepreneurs.”
MIT
The World Economic Forum Warns That AI May Destabilize The Financial System
News from MIT Sloan School of Management
“Artificial intelligence will reshape the world of finance over the next decade or so by automating investing and other services — but it could also introduce troubling systematic weaknesses and risks, according to a new report from the World Economic Forum (WEF).
“Compiled through interviews with dozens of leading financial experts and industry leaders, the report concludes that artificial intelligence will disrupt the industry by allowing early adopters to outmaneuver competitors. It also suggests that the technology will create more convenient products for consumers, such as sophisticated tools for managing personal finances and investments. “”
“But most notably, the report points to the potential for big financial institutions to build machine-learning-based services that live in the cloud and are accessed by other institutions.”
Martin Shubik. Yale photo
Prof. Martin Shubik, Influential Game Theory Scholar, Dies
News from Yale SOM
“Martin Shubik, the Seymour H. Knox Professor Emeritus of Mathematical Institutional Economics, died on Wednesday, August 22, 2018.
“A member of the Yale faculty since 1963 and a founding member of the Yale SOM faculty, Professor Shubik was a specialist in strategic analysis, the economics of corporate competition, and the study of financial institutions.”
Eric Schwartz. Ross photo
Getting the Lead Out: Data Science and Flint Pipes
News from University of Michigan Ross School of Business
“Copper or lead? It’s the burning question in Flint as the painstaking process to find, remove and replace lead pipes continues this summer.
“University of Michigan students and professors, working with the city, helped answer that question with data science that predicts which homes have lead pipes. They estimated that three out of four houses in Flint have lead in their service lines, which are the pipes connecting each home to the city water system.
“’Knowing which homes to inspect can reduce the costs of replacing their pipes with safer ones and more efficiently get the lead out of Flint,’ said Eric Schwartz, U-M assistant professor of marketing at the Ross School of Business. ‘The approach could serve as a model for other cities to follow.’”
Collaborate, But Only Intermittently, According To New Study By HBS Professor And Colleagues
News from HBS
Ethan Bernstein. HBS photo
“More than a decade after the introduction of the first smartphone, we are now awash in always-on technologies — email, IM, social media, Slack, Yammer, and so on. All that connectivity means we are constantly sharing our ideas, knowledge, thinking, and answers. Surely that ‘wisdom of the crowd’ is good for problem solving at work, right?
“New research by Harvard Business School associate professor Ethan Bernstein and colleagues, now available online in Proceedings of the National Academy of Sciences of the United States of America (PNAS), suggests that ‘always on’ may not be always effective. ‘Intermittently on’ might, instead, be better for complex problem solving.
“In their study the three researchers — Bernstein from Harvard Business School, Assistant Professor Jesse Shore from the Questrom School of Business at Boston University, and Professor David Lazer from Northeastern University — put together and studied the results of a number of three-person groups performing a complex problem-solving task. The members of one set of groups never interacted with each other, solving the problem in complete isolation; members of another set of groups constantly interacted with each other, as we do when equipped with always-on technologies; and a third set of groups interacted only intermittently.”
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