News from Harvard Business School
“We see a paradox in two important analytics trends. The most recent results from The CMO Survey conducted by Duke University’s Fuqua School of Business and sponsored by Deloitte LLP and the American Marketing Association reports that the percentage of marketing budgets companies plan to allocate to analytics over the next three years will increase from 5.8% to 17.3%—a whopping 198% increase. These increases are expected despite the fact that top marketers report that the effect of analytics on company-wide performance remains modest, with an average performance score of 4.1 on a seven-point scale, where 1=not at all effective and 7=highly effective. More importantly, this performance impact has shown little increase over the last five years, when it was rated 3.8 on the same scale.
“How can it be that firms have not seen any increase in how analytics contribute to company performance, but are nonetheless planning to increase spending so dramatically? Based on our work with member companies at the Marketing Science Institute, two competing forces explain this discrepancy—the data used in analytics and the analyst talent producing it. We discuss how each force has inhibited organizations from realizing the full potential of marketing analytics and offer specific prescriptions to better align analytics outcomes with increased spending.”
Can New Strategies Keep Campbell Soup From Going Cold?
News from The Wharton School at the University of Pennsylvania
“The sudden exit two weeks ago of Campbell Soup Company’s CEO Denise Morrison brings the firm the opportunity to review and reset its strategies. Essentially, it means revisiting its portfolio of products and market positions, weighing acquisitions and dispositions of existing assets, and potentially even putting itself up for sale. ‘Everything is on the table. There are no sacred cows,’ interim CEO Keith McLoughlin told analysts after its third-quarter earnings announcement, which was on the same day Morrison quit.
“Campbell Soup still has a lot going for it, and with the right strategies and execution, it could bounce back to good health, according to experts at Wharton and the University of Michigan.
“As it happens, Campbell Soup is America’s 10th most-loved brand and fifth in the foods category, according to the 2018 Morning Consult rankings. ‘There are still plenty of consumers who care about it and love it,’ said Wharton marketing lecturer Jason Riis.”
9 Reasons To Look Forward To Your HBS Commencement
News from HBS
“On May 24, the Class of 2018 took their last steps as MBA students and crossed over the Commencement stage into the role of an HBS alum. This moment has been a dream for each student since they first walked through the doors of the MBA Admissions office, and for many, years before that. For the Admissions team, Commencement can be bittersweet. We remember your applications and interviews. We watched you inspire your classmates and grow into the amazing leaders that you have become; but frankly, we hate to see you go. But above all, we wish you the best in each of your new endeavors; from social enterprise to venture capitalism, from consulting to entrepreneurship. We can’t wait to see the impact you will make on the world.
“For those of you just beginning your path to the Commencement stage (whether you are starting your first year at HBS this coming Fall or have just started thinking about taking your GRE or GMAT), here are the 9 best moments to look forward to at your HBS MBA Commencement.”
Tuck Student’s App ‘Nudg’ Helps Manage Personal Relationships
News from Dartmouth College Tuck School of Business
“Many of us have forgotten to call, text or otherwise contact those we are close to. Angela Orzell Tu’19 is working to design an application to solve this problem — Nudg, a personal relationship manager.
“According to Orzell, Nudg manages contacts and reminds users to reach out to those with whom they may be forgetting to keep in touch. A prototype of the app will be presented at Technigala, a science-fair style presentation for the computer science department and Digital Art Leadership and Innovation students, in Baker-Berry Library on Wednesday evening.”
Family Business Longevity Requires Owners To Step Back
News from INSEAD
“Professionalizing a family firm is a necessary yet difficult progression. The owner-manager starts with a solo performance but the firm builds into a symphony orchestra in which the family continues to have a say in the running of the firm. Family-run businesses need to shift their deeply engrained organisational culture from a single-family member leader to a professional manager leading the firm. It can be a difficult process to get right because of the larger emotional issues at stake. For professional managers who have little or no experience with family firms, most will have never confronted this kind of transformation before since it is unique to family firms. In general, both owner-managers and professionals often underestimate the length of time and the scope the process can take.
“One study has shown that large publicly-traded family firms in Hong Kong, Singapore and Taiwan have lost half their market value in the five years following the retirement of a family owner-manager. Most of these firms had been too dependent on the family leaders. Hence, embarking on the professionalisation process is crucial for the survival and prosperity of the family firm. In guiding the firm through this process, owner-managers will create added value while reducing key personal risks, such as sudden health problems or accidental loss of life.”
MBA candidates settle into their seats prior to the start of the Samuel Curtis Johnson Graduate School of Management Recognition Ceremony, May 26 in Newman Arena. Lindsay France photo
MBA Grads Urged To Harness Power To Do Good
“Amanda Archila, MBA ’18, was making a difference as Washington, D.C.-based national account manager for Divine Chocolate, a fair-trade, farmer-owned company headquartered in Ghana and London.
“But in order to make a bigger difference, to secure real power for the purpose of the greater good, Archila knew she needed to take another step.
“Her story of sacrifice and perseverance is undoubtedly similar to the scores of others who were honored May 26 at the Samuel Curtis Johnson Graduate School of Management Recognition Ceremony, held in Newman Arena.”
Natsume Ono photo
New Medical Marijuana Dispensary Opens Across From Ross School
News from University of Michigan Ross School of Business
“Amid a new Michigan licensing act and an updated Ann Arbor ordinance, a new marijuana dispensary has opened near the University of Michigan’s campus. Green Planet dispenses medical marijuana to registered patients and is located at 700 Tappan Ave., across from the Ross School of Business and the Law Quadrangle.
“Green Planet is one of many new dispensaries opening in the Ann Arbor area after the legal changes put into effect earlier this year.
“According to its website, the dispensary is part of a non-profit group aiming to assist medical marijuana patients and share information about marijuana’s medical benefits.”
Why Firms Should Conduct Randomized Controlled Trials
News from INSEAD
“Making mistakes and learning from them is par for the course for companies. But years of bad decisions could lead to the downfall of conglomerates.
“In the case of General Electric, a major engine of America’s economy for more than a century, the firm shook investor confidence when it announced last year that it would have to slash its stock dividend in half – only the second time it had to cut its dividend since the Great Depression.
“By the end of last year, General Electric shed more than $100 billion in market value since November 2016, undone by a long history of overpriced acquisitions, opaque accounting and its overly complex business model.”
Building Your Own Network When You’re Part Of A Family Business
News from HBS
“Ashley Fina’s grandfather was a natural networker. As the founder of his own New York retail store, Michael C. Fina relied on his network to build his company into a beloved Manhattan institution, which counted Frank Sinatra among its customers. But when Ashley first entered the family business, she realized that while her grandfather had a robust network, his sons, including Ashley’s father, who eventually took over the business, did not.
“’They were so focused on maintaining and building what their father and mother had built, they didn’t turn their attention to building their own network. It was really my father’s biggest regret,’ Ashley recalls now. Her grandparents’ vast array of friends and advisors — and reliable customers — didn’t simply pass from one generation to the next.”
Juan Carlos Vargas, the managing principal at GeoAdaptive LLC speaks at the tourism roundtable, as Vincent Molés, from the Harvard Extension School, front, Kathleen Ahamed-Broadhurst, research manager from for the Cornell Sustainable Tourism Entrepreneurship; and Jacqueline Kariithi, a postdoctoral research fellow from Princeton listen. Dave Burbank photo
Executives Explore Sustainable Tourism At Pillsbury Forum
“More than two dozen senior-level business executives and educators from around the world discussed emerging directions in sustainable tourism at a roundtable hosted by Cornell’s Pillsbury Institute for Hospitality Entrepreneurship and the Center for Sustainable Global Enterprise on May 3 at Statler Hall.
“The roundtable sought to develop new ways to evaluate, manage and maintain destination assets around the world. Neil Tarallo, the director of the Pillsbury Institute, welcomed the participants, while co-organizers Jeanne Varney ’85 and Mark Milstein, clinical professor of management, and the director for the Center for Sustainable Global Enterprise, gave opening remarks.”
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